World News@lemmy.worldEnglish · 6 days ago

Elon Musk sells X to his own xAI for $33 billion in all-stock deal

apnews.com

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Elon Musk sells X to his own xAI for $33 billion in all-stock deal

apnews.com

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World News@lemmy.worldEnglish · 6 days ago

cross-posted to:
technology@lemmy.world

Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday.

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5 days ago
If I recall, fidelity wrote off most of its investment in twitter less than a year after the acquisition: https://www.forbes.com/sites/tylerroush/2024/09/30/elon-musks-x-is-now-worth-around-a-fifth-of-the-44-billion-he-paid-for-it-fidelity-says/

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