Utopia Talk / Politics / Elon Musk found a buyer for X (Twitter)

murder Member	Fri Mar 28 17:49:04 Elon Musk says xAI has acquired X in deal that values social media site at $33 billion Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion. “xAI and X’s futures are intertwined,” Musk, the world’s richest person, wrote in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.” He added that the merger of the two privately held companies would, “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” The Tesla and SpaceX CEO acquired Twitter in a deal valued at around $44 billion in late 2022, implementing massive cost cuts and soon renaming it X. Linda Yaccarino, who Musk hired as CEO of X, wrote in a post after Friday’s announcement, “The future could not be brighter.” Musk launched xAI less than two years ago with a stated goal to “understand the true nature of the universe.” The startup has been trying to compete directly with OpenAI, the richly valued AI startup that Musk co-founded in 2015 as a non-profit research lab. He later left OpenAI and has recently been involved in a public relations and legal spat with the company and CEO Sam Altman over the direction that it’s taken. At xAI, Musk’s team has been developing large language models and AI software products, taking on offerings from OpenAI as well as Google, Microsoft, Meta and others. X and xAI have already been intertwined, with xAI’s Grok chatbot available to users of the social media app. In June, xAI announced it would build a supercomputer in Memphis, Tennessee, to train Grok. And in September, Musk revealed part of the Memphis supercomputer, now known as Colossus, was already online. Investors valued xAI at around $50 billion in a financing round last year. Bloomberg reported last month that the company was in talks to raise funds at a $75 billion valuation. OpenAI was closed to wrapping up a round in February at a $260 billion, while generative AI startup Anthropic was valued at $61.5 billion in a deal that closed this month. In addition to running Tesla, SpaceX and xAI and overseeing X, Musk has spent much of his time this year in Washington, D.C., as a central figure in President Donald Trump’s second administration. After contributing $270 million to help Trump and other Republican candidates and causes in the 2024 campaign, Musk was put in charge of the newly formed Department of Government Efficiency (DOGE), which is eliminating government expenses and getting rid of regulations. It’s a position that puts Musk in position to make changes in ways that benefit his various businesses. This isn’t the first time Musk has merged two of his entities. In 2016, Tesla acquired SolarCity for $2.6 billion. The solar installer was founded by his first cousins, Lyndon and Peter Rive, and funded by Musk, who served as board chair. Tesla shareholders later sued, alleging the deal amounted to a SolarCity bailout, and a breach of fiduciary duty that enriched Musk personally. Delaware judges who heard the dispute decided in favor of Musk and Tesla, and allowed the deal to stand without any remuneration back to the automaker. http://www...-media-site-at-33-billion.html
murder Member	Fri Mar 28 17:50:25 People still give this guy their money. lol :o)
williamthebastard Member	Fri Mar 28 17:57:02 X is an artificial intelligence company? Lol, more and more Im being convinced that the term AI is a marketing scam. Soon they'll be calling sandwich vendor machines AI, because like magic they know just which sandwich you want them to poop out when you press a button.
williamthebastard Member	Fri Mar 28 18:07:02 Nietzsche says it is every thinkers duty to not get caught up and lost in the zeitgeist of the time he lives in. This seems to be exactly that cardinal mistake. A generation seduced by flashing lights and shiny trinkets. Just our generations version of men in top hats staring at the first dodgy black and white flickering pictures on theater screens and thinking that we've finally conquered the universe.
obaminated Member	Sat Mar 29 11:56:08 Lol, wtb thinks ai doesn't exist.
TheChildren Member	Sat Mar 29 12:00:28 lol why wuld anyone do this xai? neva heard, is his own ai company or some shit. why wuld it buy twitter. this shit reeks of pyramid fraud scehemes
Dukhat Member	Sat Mar 29 14:25:44 He sold it to himself ... What a bunch of bullshit.
Pillz Member	Sat Mar 29 14:37:05 Wtb is evidence a monkey with FAS can get a degree.
williamthebastard Member	Sat Mar 29 14:59:12 Recent posts have got me pondering on how many people abuse chat programs in detrimental ways. I suspect there are people out there who think theyre speaking to God via ChatGTP, to Satan, demons, all kinds of weird and unhealty stuff. Probably, there are people out there lighting candles and holding ChatGTP seances etc.
Pillz Member	Sat Mar 29 15:11:25 Ask it. Use it. You're smart enough right?
williamthebastard Member	Sat Mar 29 15:33:23 I almost wish I was back in philosophy classes. If Id suggested to a professor this as a topic of a paper, the topic being, are chat programs being used to aggravate mental illness in the way I suggested above, Im sure they would have found it pretty interesting and said, go for it. And it would have been pretty interesting to spend time researching the paper.
williamthebastard Member	Sat Mar 29 15:39:39 Amused me enough to post the question to an old professor who Im still in touch with since school to hear what he says. Although nothing gave those professors (in Europe, unlike the USA, you have to have a PhD to be called a professor) as much a weary headache and make them quickly swallow 3 paracetamols in despair as all these Youtubian pseudo-philosophical "are we living in a computer simulation?" questions that are so trendy at the moment heh
Pillz Member	Sat Mar 29 15:47:48 Imagine double posting complete gibberish that has no relation to another else in the thread but your own short sighted ravings. Get help wtb.
williamthebastard Member	Sat Mar 29 15:50:13 The irony of posting complete gibberish in light of your thread is jaw dropping lol
Pillz Member	Sat Mar 29 15:54:03 To have my pity.
Pillz Member	Sat Mar 29 15:54:12 Damn. You have my pity.
williamthebastard Member	Sat Mar 29 15:54:38 You have to be ignored because you are such an easy target to crush given the complete mess your life and mind is in, and so deserving of being crushed for your decades of hateful racism and fascism, but you are also in such obvious need of help that I really couldnt do that to you.
Pillz Member	Sat Mar 29 15:58:04 My life and mind are fine. You looked a thread I made 15 years ago and a post that's a year old. And even if the entire thread were current : I am your better. In everything. We all are. You are the weakest link and have been since Hot Rod died.
Nimatzo iChihuaha	Sat Mar 29 16:18:44 I promise you WTB, that if calamity ever befalls you, if you ever have mental health issues or problems in general, If I can not help you I will at least not behave like the scumbag you are. I just don't have it in me, regardless of your political ideology, to kick on people who are lying down. I guess that is where the guy who joined a Nazi gang to not get bullied comes in? Literally kicked people with steel tipped shoes.
williamthebastard Member	Sat Mar 29 23:43:59 He replied: "I just finished an introduction to James the first’s Daemonologie - the guy I write for said there’s suddenly a market for that kind of stuff"
williamthebastard Member	Sat Mar 29 23:54:45 He mostly writes for a big financial paper where he amuses himself by stuffing in what he thinks is overt utter rubbish e.g. about the benefits of being an alpha male on the stock market and marveling at how they're too stupid to pick up on his mockery of them. He laughs and says the stupider stuff he makes up, the more they praise his work
williamthebastard Member	Sat Mar 29 23:59:37 People like Alpha Boi sit there reading his mockery of them thinking theyre being deep and reading some advanced shit lol
Pillz Member	Sun Mar 30 00:18:32 10/22 posts by wtb 7 of them double posts The sign of a healthy mind.
williamthebastard Member	Sun Mar 30 00:28:58 I suspect that a timeline study of Maga normalizing psychopathic characteristics and chat programs/social media replacing physical interaction with other people will show a coincidal increase in statistics for mental illness
Pillz Member	Sun Mar 30 00:42:40 Yes, liberals have been widely and severely impacted by TDS, you're right
obaminated Member	Sun Mar 30 01:11:58 If I could help you wtb I would. Mental illness is a horrible fate. You should stay in a mental hospital and stay on the inadequate meds. Better than your insane rants you make here.
Dukhat Member	Sun Mar 30 01:14:19 LoL. Irony is completely lost on Obaminated
TheChildren Member	Sun Mar 30 02:21:52 i wuld like 2 sell meself some gold bars 2 if possible like 10k gold bars or some other high numbas of gold bars. enuff 2 set me 4 life. nottin 2 fancy u know. maybe 2 big boats, 2 different jets, several giant palaces in da rich places and shits. own some companies maybe. fuck u moniez. how i make this possible. how i sell meself some gold bars. lets make this happen! im sick of this lufestyle
Nimatzo iChihuaha	Sun Mar 30 05:09:02 Wait a minute. You mean you guys don’t go to forums where you are not welcome and no one likes you, to harass people with the bad things life has thrown their way? The fucking idiot has actually scoured the web after my name, and found some posts I made 20 years ago on a dating advice site. And he called me ugly. Murder said I looked old, Jergul called me fat and now this. Why do leftists insult like mean girls? I have in the past really abused some terminology, but wtb is the first person that I have mentally and psychologically “broken” and sent into a “meltdown”. In the famous words of Hot Rod (RIP) I have owned him to the max. All in the spirit of UP threads, arguments and discussions. However WTB has a big ego, thin skin and and empty skull. His failures are so basic topic after topic, and every time he bets his entire “professional” weight and reputation behind the garbage he writes. And if not his career as a spellchecker he will tell you what classs and exams he took. lol :-)
murder Member	Sun Mar 30 08:31:24 "Murder said I looked old" Eh?
obaminated Member	Sun Mar 30 19:57:11 I love how I post a somewhat safe post and cuckhat ducks in to protect a mentally ill person. Good job amigo.
murder Member	Mon Apr 07 23:33:20 A new twist? ----------- Elon Musk sets the stage for Tesla to bail out Twitter/xAI at an insane valuation Elon Musk, who already suggested Tesla invest in xAI, is now setting the stage for the public company under his control to grossly overpay for xAI, a private company under his control that just absorbed Twitter (X). Anyone invested in a mutual fund that owns Tesla shares could be about to bail out Musk and his billionaire friends. At $44 billion, Musk knew he was overpaying for Twitter and tried to back out of the deal. Within a year of Musk taking Twitter private, Fidelity Investments, which invested in Musk’s Twitter acquisition, revalued its investment as being down 65% from its purchase price. A year later, in October 2024, Fidelity valued Twitter, X by now, at just $10 billion. That’s not surprising since Musk had Twitter take on $12 billion in debt as part of the take-private deal, and revenue fell by roughly half under his leadership. To take Twitter private, Musk personally financed the deal with $25 billion of his own and his existing stake in Twitter, $12 billion in debt, and about $7 billion in investment from his friends. As of October, most of that equity was gone, but Musk wasn’t about to let a loss slide on his record. In 2023, he launched xAI, a private company under his control that develops AI products. Tesla investors are suing him for breach of fiduciary duty and resource tunneling over the founding of xAI since he had previously stated that Tesla would be a big player in AI and simultaneously threatened not to build AI products at Tesla if he didn’t get more control of the company, but let’s put that aside for now. When raising money for xAI in 2023, Axios reported on how Musk might use the AI company as a “plan B to save Twitter” and Musk responded: “I have never lost money for those who invest in me and I am not starting now.” Who are these people who invested in Twitter with Musk? There’s a long list, but two of the biggest investors are Prince Alwaleed bin Talal, a Saudi Arabian billionaire and head of Kingdom Holding Company, and Larry Ellison, billionaire co-founder of Oracle. Both are close friends of Musk. VC firms Andreessen Horowitz and Sequoia Capital, Qatar’s sovereign wealth fund, the highly controversial crypto exchange Binance, and the previously mentioned Fidelity Investments have also invested in the deal. By the end of 2024, those people were basically writing down 80% of their investment in Twitter, as per Fidelity. However, a few months later, in March 2025, X was somehow valued back at $44 billion as part of a “so-called secondary deal.” Some took this information as news that X had turned around, but many were skeptical that the valuation could have gone from $10 billion to $44 billion in just 5 months. Sure enough, we quickly learned that the new valuation had little to do with improved financials at X and was instead based on Musk pushing for xAI to buy X at $45 billion through an all-stock acquisition. A company’s valuation is only what someone is willing to pay for it and Musk was willing for xAI to “pay” $45 billion. In late March, Musk announced that xAI had acquired X in a deal valuing xAI at $80 billion and X at $45 billion, while xAI would take on X’s $12 billion debt. It’s worth noting that xAI had raised only $12 billion at a $40 billion valuation with virtually no revenue as of December 2024, and now it’s a $125 billion company, based entirely on Musk’s valuation, with $12 billion in debt. How does Tesla plays into this? Musk has promised Tesla shareholders that the Twitter acquisition would be good for the company. That was after he sold tens of billions of dollars worth of Tesla stocks to buy Twitter – sending Tesla’s stock crashing. Tesla shareholders haven’t really seen a return on that yet unless you count a brief surge in stock price after Trump was elected, with the help of Musk and X, but the stock has since erased all those gains since Trump came into office. Now, xAI is the plan B. Last summer, Musk suggested that Tesla invests $5 billion in xAI, but that was before the company acquired X. Musk will need shareholder’s approval for a deal between xAI and Tesla, which would happen at Tesla’s shareholders meeting – generally held in June. Now, Tesla’s CEO, who has been complaining about his eroding control of Tesla after selling shares to buy Twitter, has greatly inflated the value of xAI through this acquisition of X ahead of the potential investment. Musk has also discussed Tesla integrating Grok, xAI’s large language model, into its products, specifically its electric vehicles. ChatGPT, OpenAI’s LLM, has already been integrated in many vehicles, including from the Volkswagen Group, Peugeot, and Mercedes-Benz. It’s now very possible that Musk will push for Tesla to invest in xAI, with cash or stock, at the automaker’s next shareholders meeting, with Musk claiming that Tesla needs xAI to stay competitive on the AI front with LLMs and for its upcoming humanoid robot. Electrek’s Take The grift never stops. As I have been saying for years, Musk is not equipped to be an executive of a public company, and this is just the latest example. If all these entities were private, and he was taking his affluent private investor friends on a ride, I wouldn’t have any problem with this, but Tesla is a public company included in many ETFs and mutual funds. Many people own Tesla stocks without even knowing. But as Musk said himself, he doesn’t let people who invested in him lose money. Does that include Tesla investors? I don’t think it does anymore. There’s an argument to be made that Tesla shareholders should already own Musk’s stake in xAI. That’s what the breach of fiduciary duty lawsuit is about. Musk said that Tesla was “a world leader in AI’ and said that AI products would be critical to the company’s future. Then, he starts a private AI company and threaten Tesla shareholders that he will not build AI products at Tesla if he doesn’t get more than 25% control over the company. That’s a clear breach of fiduciary duties to Tesla shareholders as the CEO of Tesla, but it will likely take years to solve this through courts. In the meantime, Musk is pushing for Tesla to invest in xAI, which is now valued at $125 billion – a number completely made up by Musk. Grok is not a bad product, but it ranks below OpenAI’s ChatGPT and Google’S Gemini in most AI rankings. It also relies too heavily on information from X, which is far from reliable. Most experts see xAI as being way behind OpenAI and other AI companies, which are already generating significant revenue. Now, I doubt Musk will still push for a $5 billion investment from Tesla. I don’t think that Musk will want Tesla to spend 15% of its cash position on this amid declining earnings and a very difficult macroeconomic situation. I wouldn’t be surprised to see Musk pushing for Tesla to invest in xAI as part of a stock deal. The timing would be good for Musk. Tesla’s current brand issues, lower deliveries, crashing earnings have led to a much lower share price on top of the crashing US stock market. If Tesla’s share price is lower, Musk can get more shares for his made-up valuation of xAI. Musk likely owns more than 50% of xAI post X acquisition. A stock deal would virtually result in him getting half of the Tesla stocks that are part of the deal – boosting his stake in Tesla, which has been his goal since selling his stake to buy an overpriced Twitter. In short, Musk sold Tesla stocks to buy an overpriced Twitter, regretted it and threatened Tesla shareholders to get more shares. Now, he might get Tesla shareholders to pay for the acquisition again at the same ridiculous valuation. The craziest thing about all of this is that I bet Tesla shareholders are going to approve this scheme. http://ele...-twitter-xai-insane-valuation/
tumbleweed the wanderer	Tue Apr 08 02:14:01 he can also break any laws he wants on any shenanigans since allies of the 'president' are immune to federal law
murder Member	Tue Apr 08 06:42:37 He was immune when Biden and Obama were president too. -
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