Musk Sells X To Himself Through His AI Company

The Daily Beast reports:

Billionaire Elon Musk just bought his own company. Musk, the owner of X, just bought X once again through his artificial intelligence company, xAI.

The all-stock transaction was announced Friday as Musk claimed the combination valued xAI at $80 billion and X at $33 billion (his valuation for the social media company was actually $45 billion, with $12 billion in debt.) Musk bought X in October 2022 for around $44 billion.

Grok, xAI’s first technology, has already been integrated into the social media app, with the large language model having access to X data. As investors rushed to jump on the AI bandwagon, companies like BlackRock and Nvidia all contributed to xAI’s piggy bank last year.

Read the full article. 

What kind of convoluted scamery is

READ MORE OF THIS POST AT Joe My God