I believe it’s simpler. It is a way to cut his losses from the forced buy of twitter.
Also, xAI doesn’t seem to have a better use for the money right now than to put it into Musks (+ other owners) private pockets - which is the most bearish news I have ever read about AI.
All stock deal, no cash.
the dilution will probabaly occur with the next round of xAI. x shareholders will be diluted in their equivalent xAI shares since no more raises can take place in X shares.
xAI already had an inflated valuation compared to X, so I’d say it’s pretty dilutive :). Maybe X shareholders don’t care cause it’s been driven into the ground, dunno.
