@erikz
Billionaire investor Elon Musk has controversially sold his social media platform X to his AI startup xAI in an all-stock deal, Cointelegraph reported. The move coincided with a U.S. judge's refusal to dismiss a lawsuit related to the social media platform. The transfer of X's ownership to xAI has complicated the class-action lawsuit against Musk. Musk said the deal valued xAI at $80 billion and X at $33 billion. Cochran said Musk paid many times the value of X with xAI stock, but still lost $11 billion. xAI is known for its AI chatbot Grok, which Musk said could outperform OpenAI's ChatGPT.
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