XAI acquires X for 33 Billion

Investment Analysis Clubs Macro Economic Trends and Risks
1

So Musk was going to lose a lot of money if he couldn’t fund the loans on X. But Hey, look who he had buy them. But nothing wrong here just some more nefarious book keeping, these white collar crimes don’t matter though. I am sure all the XAI owners are just giddy over this and the X shareholders just got a nice haircut right before summer.

** X recently raised $1 billion from investors, valuing it at $44 billion, according to Bloomberg. Musk took X (then Twitter) private in 2022 at nearly the same valuation. Musk was recently served with an SEC summons in the long-running lawsuit over Musk’s alleged failure to disclose his ownership in Twitter before bidding to buy it entirely.**

7 Likes
2

Move over SOFI n HOOD. xAI is coming.

Elon has said he wants x or xAI to be the everything app. Grok, banking, investing, you want it, xAI got it. xAI ain’t got it, xAI will get it. xAI can’t get it, you don’t want it.

:alien_monster::money_mouth_face::money_with_wings:
ralph

3

Killed my account last year, never going back! A old friend kept sending me links to posts there until she finally understood it was not a good place to be. Sudden deconstruction seems like the best possible ending… :slight_smile:

1 Like
4

This means that if/when xAI goes public then we’ll get regular numbers on the operation of X.

DB2

5

Two things that do not make money in one company? Not a bad plan. It saves on the cost of bankruptcy lawyers later.

6

Not saying it’s the same, but isn’t that what Enron did, moving the money losing operations into different entities?

4 Likes
7

AI meets real time cybernetics info from 600 million global users.
Marching towards $2 Trillion valuation.

1 Like
8

Yep trying to hide the money so he can fool the fools who follow him.

2 Likes
9
1 Like
10

He used the company of which he owned 54% to buy the company of which he owned 80%. This is similar to using Tesla to buy Solar City, using control of a larger entity to bail him (personally) out of a failing entity.

5 Likes
11

All things Eloon connected will go through Rapid Unscheduled Deconstruction.

1 Like
12

Elon founded xAI in July 2023. Today it has a valuation of $80 Billion.
Grok usage is rapidly growing globally. It is the most popular App already on Android replacing OpenAI’s chatGPT.

Elon founded OpenAI in 2015 along with Sam, Ilya and others. OpenAI is valued at $150B.

1 Like
13

Grok currently has the highest rate of downloads, which makes sense because it is new-ish. But it isn’t the most popular. Grok has been downloaded 5 million times. ChatGPT and Gemini have each been downloaded over 100 million times.

3 Likes
14

Grok is also available on X which does NOT need a new download. X has over a 1 Billion downloads.

1 Like
15

Exactly but the fools don’t understand they have been Fooled. LOL

16

Sam is in prison.

Oh, you mean Sam Altman, and Ilya Sutskever. They operate at a higher level.

Whereas xAI has Musk and a bunch of VC patsies like Sequoia Capital, who previously funded FTX and Sam Bankman-Freed. And now Elon has relieved them of some of their money.

So Elon is the top dog con man of that group, but this isn’t leading to something greater - it’s just a waste of time (like X), propelled by the cult of Musk (and his young investor droogies).

2 Likes
17

Comedian Alex Falcone‬ posted this at BlueSky.

People have been calling him Elmo which is terribly unfair to a great puppet but I didn’t have a better suggestion. Until now. Henceforth I will only refer to him as Enron Musk.

4 Likes