The Financial Times reports that the investors who financed Elon Musk’s acquisition of the Twitter platform for $44 billion are making a significant profit thanks to the growth in the value of his company xAI.
Musk provided investors with a 25% stake in xAI, which helped offset losses from the decline in the value of X (formerly Twitter).
xAI will close a new $5 billion funding round, doubling its valuation to $50 billion in six months. Musk’s investors benefit from xAI’s rapid growth, made possible by the billionaire’s significant investments and contributions to two businesses.
xAI is a company that Musk created to compete with OpenAI in the development of artificial intelligence.
The publication noted that Musk not only attracted investment for X (Twitter) through the sale of Tesla shares but also raised funding for xAI, which is actively growing and generating profits.
At the same time, social networks are experiencing problems with advertisers who have left the platform due to concerns about content moderation.
