BlockBeats News, on November 27, according to the UK (Financial Times), Elon Musk has fulfilled his promise by gifting shares of his artificial intelligence startup xAI to X shareholders.
Musk promised last year to give X shareholders 25% of the new company's shares, but little has been heard about this promise since then. (Financial Times) reported on Wednesday that X shareholders received a quarter of the equity in two rounds of financing for xAI, one of which has now been completed, valuing the artificial intelligence startup at $50 billion.
(Financial Times) reported that the xAI stock may be enough to compensate X shareholders for the losses incurred from their investment in the social media platform. Since Musk took over, X's business has collapsed as advertisers fled, leading to a significant drop in its revenue.