《Financial Times》: Musk has fulfilled his promise to gift xAI shares to X shareholders

BlockBeats News, November 27th, according to the Financial Times, Elon Musk has fulfilled his promise to give X shareholders a stake in his artificial intelligence startup xAI.

Musk had promised last year to give X shareholders 25% of the new company, but little had been heard about the promise since then. The Financial Times reported on Wednesday that in xAI's two funding rounds, X shareholders received a quarter of the equity, with one round of funding now completed valuing the AI startup at $500 billion.

The Financial Times reported that the xAI shares may be enough to offset X shareholders' losses in the social media platform. Since Musk took over, X's business has collapsed as advertisers have pulled out, leading to a sharp drop in its revenue.