How did Elon Musk turn things around on X for the AI giant on the verge of bankruptcy with a valuation of 800 billion?
How Did Elon Musk Turn Things Around on X for the $800 Billion AI Giant on the Brink of Bankruptcy?
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Telegraph
How Did Elon Musk Turn Things Around on X for the $800 Billion AI Giant on the Brink of Bankruptcy?How Did Elon Musk Turn Things Around on X for the $800 Billion AI Giant on the Brink of Bankruptcy? In January this year, a group of investors gathered at Morgan Stanley's New York office to listen to X's sales pitch, eager to invest in a debt that Wall Street had once shunned. At this event, mobile phones were prohibited, and the audience was told to remain seated until X CEO Linda Yaccarino and others left the room. Yaccarino and others made brief remarks at the event and did not take questions from the audience. In 2022, Musk spent $44 billion to acquire Twitter (now called X), of which $13 billion was a loan provided by seven banks including Morgan Stanley. Usually, after banks issue loans, they...