Sirdubdee

joined 2 months ago
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Elon Musk sells X to his own xAI for $33 billion in all-stock deal in c/technology@lemmy.world
[–] Sirdubdee@lemmy.world 3 points 3 weeks ago (2 children)

He traded a liability for an asset. Distanced X from his personal assets (Tesla stock) used as collateral. xAI now has massive amounts of debt and Elon just owns the company that owns it.