The Economist is pessimistic
xAI has acquired X, xAI now valued at $80B
401–410 of 1001 posts
Re: xAI has acquired X, xAI now valued at $80B
#402Artificial intelligence purchases the largest repository of natural stupidity.
Nothing surprising.
Re: xAI has acquired X, xAI now valued at $80B
#403Re: xAI has acquired X, xAI now valued at $80B
#404Earlier quoted context omitted.
> and xAI doesn't have much of any revenue or assets. xAI does have some pretty massive datacenters with 200K+ GPUs.
Fair enough, edited to just revenue. But those are just datacenters bought with VC money - my intent was to say that xAI's resources are basically just the investment they've received.
You can’t just pull out the corporate Amex and buy a world class datacenter. There is considerable value add there.
Re: xAI has acquired X, xAI now valued at $80B
#405Earlier quoted context omitted.
At the rate he's going, SpaceX is probably on its way to being nationalized within the next few elections. And that would make sense totally aside from punitive response: it is pretty dangerous to have such vital defense infrastructure controlled by such a mercurial personality.
According to existing Supreme Court precedent[1], nationalization of companies requires approval by Congress, not just the President, so that would make it more difficult. [1] https://en.wikipedia.org/wiki/Youngstown_Sheet_%26_Tube_Co._...
Precedent, with this Supreme Court, is meaningless.
Re: xAI has acquired X, xAI now valued at $80B
#406So 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.
But all the armchair business experts assured me that the value of Twitter had completely tanked since Elon bought it because he’s such a stupid fool who ruins everything, so shouldn’t it be worth less? Just a few months ago everyone was confident it was only worth $8 billion. He valued it at the same price minus debt.
How much of these evaluation is based on Musk‘s influence on Trump?
Re: xAI has acquired X, xAI now valued at $80B
#407[flagged]
Re: xAI has acquired X, xAI now valued at $80B
#408Earlier quoted context omitted.
An acquisition is a special case (for the company being acquired) and the scrutiny is somewhat higher. At least in Delaware. I have no idea what corporate law is like in Texas.
No X shareholder in their right mind will object to getting a $45 billion valuation (including debt) when their latest valuations have the company at <$10 billion.
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Re: xAI has acquired X, xAI now valued at $80B
#409In similar news: my left hand acquired my right hand today in an all stock deal valuing the combined hands at $1T. Praising the announcement my arms noted on the deal: “With these two hands now together, there’s nothing our combined fist of might can’t do.” Competitors, my left and right feet, declined to comment on the merger but are said to be in their own separate talks about a deal.
What are you gonna do with two hands?
Twice as much!
Re: xAI has acquired X, xAI now valued at $80B
#410So 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.
This also lets all of his co-investors in X, who were likely pissed that their shares tanked, exchange their shares at an inflated value (but one that still sees them losing 25% of their original investment) for shares in a trendy yet likely overvalued AI company that they consider to have more upside. The other part of this is that if TSLA stock drops to $100-ish he'll be at risk of being margin called on the loans…
Feeling mighty 2008/subprime in here