Elon Musk's fraud lawsuit just sold X to Xai has become “lotspicer”

Billionaire investor Elon Musk has sparked controversy as he sold social media platform X to AI startup Xai and is consistent with a US judge who rejected his bid to dismiss lawsuits related to the social media platform.

The transfer of X's ownership on March 28 means that the class action lawsuit against Mask accused former Twitter shareholder of fraud by delaying disclosure of initial investments on social media platforms.

Acquisitions could open Xai to more “exposure”

On the same day, Musk reportedly reportedly said, “Xai acquired X in all share trades.” “I opened up his AI entity to be exposed here too, but that's a much bigger pie.”

Musk said Xai is $80 billion and X is $33 billion, and X is valued at $12 billion in debt from its $45 billion valuation. He originally bought his former Twitter, X, in April 2022 for around $44 billion.

“Xai and X futures are intertwined. Today we have officially taken a step towards combining data, models, calculation, distribution and talent,” says Musk.

“This combination unlocks immense possibilities by blending Xai's advanced AI capabilities and expertise with X's big reach,” he said.

“This allows us to build a platform that not only reflects the world, but also actively accelerates human progress.”

However, Cochran claimed, “Musk used his pumped-up Xai stock to pay XAI multiple times, but still caused a loss of $11 billion in the transaction.” He said the mask “is ruining Xai investors and X investors,” and was run to sell user data to Xai.

Related: Elon Musk's 'Government Efficiency' Team Turns Eyes to SEC – Report

Xai is best known for its AI chatbot “Grok”, which is built into the X platform. When Musk released it in November 2023, he claimed that it could outweigh Openai's ChatGPT's first iteration in several academic tests.

Musk explained that the motivation behind building Grok is to create AI tools equipped to support humanity by empowering research and innovation.

Cochran said that Grok's valued at $80 billion was a “silly stupid rating,” but Crypto's developer Keef disagrees. Keef said, “This is all popular, but given the day, Grok is probably the top model for a variety of tasks.”

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