Elon’s Circling $15 Billion In Equity For xAI And His New Valuation Is Crazy
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The valuation is $230 billion, there you go, saved you some time…
It turns out that Elon ‘Smells’ Musk is still not content with the dubious title of ‘richest man in the world’ and wants to be a bit richer. No, a $70.5 billion net worth and a trillion-dollar pay package doesn’t buy you much these days, so Musky-man’s in the market for $15 billion to go towards his AI startup, xAI (XAAIAA.PVT).
‘Startup’? What are we even talking about? OpenAI is apparently a startup, these aren’t cobbled together by teenagers in a garage, what are you talking about?
The equity ask would give xAI (and that’s not one of his kids, just to clarify) a valuation of $230 billion dollars worth of money (USD), which is more than double what it was back in March. I’m sorry, guys, are we looking at the same product here? We’re still talking about the creators of MechaHitler right? You’re saying that’s worth $230 billion? I guess they know something we don’t…
I mean xAI has seen rapid growth over the last two years from not existing at all to existing now. With the flagship product: Grok and the not quite so flagship product: Spicy Grok, xAI have really made a name for themselves, even if that name is completely unpronouncable.
xAI? More like, x-A-WHY-is-this-company-so-valuable?
Tesla’s also getting in on the action with stockholders approving an investment in the company earlier this month. So I guess we’re just moving money round in circles so long as it’s in Elon’s orbit? That’s just money laundering, right?
xAI hopes to rival OpenAI and Claude and Google AI and Bing AI for AI dominance in the AI space which should be easy because Bing sucks.
We’ll see how this plays out though. Will Elon take over the world or will FOMO push him closer to become the man who finally pops the bubble?
For more high-quality journalism like this, click here: Elon Musk Smells
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