SOMETIMES SELF-DEALING CAN BE SPUN AS INGENUITY. ON March 28, Elon Musk announced that his artificial intelligence company, xAI, had acquired his flailing social media platform, X, in an all-stock transaction. Musk said that the newly combined entity, under the corporate name x.AI Holdings Corp, was valued at $113 billion.
Smashing together two of his companies like a kid playing with Silly Putty and hoping something good emerges is a go-to move for Musk. In 2016, he oversaw the sale of his green energy concern, SolarCity, which was founded by his cousins, to Tesla, his electric vehicle company. Musk has become known for a kind of circular economics—what’s been called the “Muskonomy.” As Axios’s Scott Rosenberg wrote after the X-xAI deal, “these dollars are all just circling the Musk-o-sphere in…
