So xAI raised $6 billion at a $40 billion evaluation, i.e. they sold 15% for 6 billion. Then they used 82.5% of the company to buy X so the Saudis and JP Morgan and whoever got something, making it less likely that there’s an embassy and a bone saw in Elon’s future.
Edit: sorry, it was $50 billion so 66%. But xAI doesn’t really have any income so I’d say their value is closer to those $6 billion. So they bought Twitter for $4 billion, one tenth of what it was.
So xAI raised $6 billion at a $40 billion evaluation, i.e. they sold 15% for 6 billion. Then they used 82.5% of the company to buy X so the Saudis and JP Morgan and whoever got something, making it less likely that there’s an embassy and a bone saw in Elon’s future.
Edit: sorry, it was $50 billion so 66%. But xAI doesn’t really have any income so I’d say their value is closer to those $6 billion. So they bought Twitter for $4 billion, one tenth of what it was.