Elon Musk’s megadeal between X and xAI breaks Wall Street’s rulebook

(Image: Getty)

Wed, 02 Apr 2025

By Ben Glickman and Lauren Thomas Elon Musk struck what could be considered the biggest deal of the year, and he broke all the normal rules. Musk’s splashy merger of the social-media company X and his artificial-intelligence startup xAI values the combined company at over US$110 billion (NZ$193.1b). That would be a blockbuster deal on Wall Street. But this one is unorthodox, even by Musk’s standards, for a whole host of reasons. 'Funny money'The valuation was surprising, and so was how the companies got t...

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