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xAI has acquired X, xAI now valued at $80B

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Re: xAI has acquired X, xAI now valued at $80B

#431

Post by charles_f »

rayiner wrote: post #182
bhouston wrote: post #29

He has done this move before with Tesla buying Solar City. When you do a deal with yourself you can assign any value you want to assets, it isn’t a competitive process. In the previous case Solar City was dying but its acquisition by Tesla was pitched as a great synergy. https://www.businessinsider.com/solarcity-tesla-energy-belea... There were a few lawsuits from Tesla shareholders about the acquisition regarding se…

You’re burying the lede here, which is that the Delaware Chancery Court rules that Tesla had paid a fair price for Solar City: https://www.businessinsider.com/elon-musk-wins-solarcity-tes...

Arguably we'll never know. A court ruling that it's a fair price isn't the same as letting the market decide

Re: xAI has acquired X, xAI now valued at $80B

#432

Post by afavour »

User23 wrote: post #412
KerrAvon wrote: post #318

Earlier quoted context omitted.

On what basis do you think 2028 elections will be free and fair? Congress is going to try to mass-disenfranchise women before the 2026 midterms. They've stated this on the record. Dems aren't going to gain control of congress in the upcoming special elections. We're totally fucked economically and otherwise unless Democrats in congress -- mainly the Senate -- can get a fucking grip, pay attention to what's happening,…

> Congress is going to try to mass-disenfranchise women before the 2026 midterms. They've stated this on the record. What on Earth are you talking about?

I assume they are talking about the SAVE act:

https://19thnews.org/2025/03/save-act-voting-married-women/

> An estimated 69 million American women and 4 million men do not have a birth certificate that matches their current legal name, according to the liberal Center for American Progress.

Re: xAI has acquired X, xAI now valued at $80B

#433

Post by NotYourLawyer »

saaaaaam wrote: post #48

So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.

> valuation that he himself assigned to that company but that was less than what he paid for it

It’s more than he paid. There’s 12 billion of debt you’re not accounting for.

Re: xAI has acquired X, xAI now valued at $80B

#434

Post by vkou »

saaaaaam wrote: post #48

So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.

> Wild

It's not wild, it's - if there is malfeasance - unprosecutable.

Re: xAI has acquired X, xAI now valued at $80B

#435

Post by TZubiri »

HarHarVeryFunny wrote: post #417

Seems to me he's just scammed xAI investors, who thought they were investing in an AI company, into bailing him out of his failed Twitter purchase - they are now the idiots who paid $44B for Twitter (recently valued by Fidelity at $10B), and Musk gets his money back.

IANAL, but this might be brought to court, if the company mission (as defined in their operating agreement) is to invest in AI, then buying X is not in the best interest of the company and not what the investors signed up for. It could be fraud.

Re: xAI has acquired X, xAI now valued at $80B

#436

Post by vkou »

zozbot234 wrote: post #126
mingus88 wrote: post #87

Earlier quoted context omitted.

Yeah these fantasies where musk would somehow go bankrupt by tanking Tesla and overpaying for Twitter were also wild He’s literally the richest person the earth has ever known. He’s never going to suffer financially. He has countless levers of power he can pull. The same fantasy applies to any past or current president ever spending a day in jail. He literally commands the most powerful military apparatus the world h…

That military apparatus is sworn to uphold the Constitution, not support the current president.

When there's no alternative nexus of power to rally around, they'll have no choice but to do whatever illegal thing they are told.

Re: xAI has acquired X, xAI now valued at $80B

#437

Post by jfengel »

vbezhenar wrote: post #231
sorcerer-mar wrote: post #204

Earlier quoted context omitted.

They swear that they will obey lawful orders from their commanders, all the way up to the President.

Who decides whether order is lawful or not?

If the order is wrong, it's your fault for failing to know that.

If the order is valid, it's your fault for questioning it.

Re: xAI has acquired X, xAI now valued at $80B

#438

Post by TZubiri »

kemotep wrote: post #84

With the grok integration into X already being a thing and both being owned by Elon and called X it never really seemed like they were actually two different companies at any point so this is an interesting reminder that they were not.

The grok thing feels as forced and useless as every other AI feature by every other company.

This has "sure buddy" vibes all over it.

Re: xAI has acquired X, xAI now valued at $80B

#439

Post by coliveira »

ketzo wrote: post #341
TheAlchemist wrote: post #305

Earlier quoted context omitted.

That would be a shocking conflict of interest - a public company paying a private company, which is owned by the CEO of the public one ? All while the same CEO claims that the public company is the leader in the field ? Even by Tesla & Musk lawlessness standard that would be too wild.

We already have multiple news stories about xAI receiving 10,000s of GPUs that were originally meant for Tesla. That's about as close to "public company giving private company owned by CEO money" as you could possibly get without cartoon sacks of cash. > Even by Tesla & Musk lawlessness standard that would be too wild. Not to be overly snarky here, but, uh: what standard? They have proven over and over that they coul…

That's what Tesla shareholders get for not giving Musk the $50B that he so much "deserved" to be fully "invested" in the company.

Re: xAI has acquired X, xAI now valued at $80B

#440

Post by lcnPylGDnU4H9OF »

nmca wrote: post #358
rayiner wrote: post #326

Earlier quoted context omitted.

Lawsuits can fail for lots of reasons without a decision on the merits. It seems relevant that the reason the lawsuit failed is because the court looked at the fairness of the transaction and determined that Tesla paid a fair price.

This whole thread is true consistent statements that differ only in emphasis.

> differ only in emphasis

The commenter you are responding to is explicitly intending to place more emphasis on the reason why the lawsuit failed. That is why they used the phrase “burying the lede” in their initial comment.

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