Musk's xAI buys social media platform X for $45 billion (www.reuters.com)
from misk@sopuli.xyz to technology@beehaw.org on 28 Mar 2025 22:20
https://sopuli.xyz/post/24564967

Archive: ghostarchive.org/archive/z7vik

March 28 (Reuters) - Elon Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion debt.

“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said in a post on X, adding that the combined company would be valued at $80 billion.

Neither X nor xAI immediately responded to a request for comment.

#technology

threaded - newest

drdiddlybadger@pawb.social on 28 Mar 2025 22:33 next collapse

Scam ass ttansaction won’t save him.

Zaktor@sopuli.xyz on 28 Mar 2025 23:00 next collapse

Some xAI investors got scammed. And then scammed again.

Powderhorn@beehaw.org on 28 Mar 2025 23:07 next collapse

Deck chairs on the Titanic.

Midnitte@beehaw.org on 28 Mar 2025 23:58 collapse

Well now the titanic chairs are on the Exon Valdez

Dennis Hopper intensifies

ThePJN@sopuli.xyz on 29 Mar 2025 00:08 next collapse

“This is now worth $80 million dollars because I said so.”

Tarot card ass economy.

passenger@lemm.ee on 29 Mar 2025 05:21 collapse

*Billion

ThePJN@sopuli.xyz on 29 Mar 2025 06:50 collapse

That too! 🤪

Good catch. My brain used a more sensible amount for that snide remark. Guess I’m still here in the real world with my stash of good ol’ V bucks brought to you by Sprite/Lego/Amazon Basics.

Moonrise2473@feddit.it on 29 Mar 2025 06:15 collapse

Now I understood why a few weeks ago it was said that xitter was back to the old ultra overvalued valuation even with less revenue and less users. Because he found some other idiots to pay for it hoping to hit big when and if does an IPO