The $33B Deal - Issue #521 Tuesday, April 1st 2025 12:00AM
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What's Happening in FinTech
A recap of fintech news brought to you by FinTech Weekly!
- The founder of the fintech Frank, Charlie Javice, convicted of $175M fraud against JPMorgan
- CoreWeave IPO opens below expectations
The Focus
Elon Musk just sold X to xAI—a company he also owns—in a $33 billion all-stock transaction. On paper, it looks like internal housekeeping. In reality, it’s a strategic realignment meant to forge a new kind of company: one where the infrastructure of public discourse and the engine of machine intelligence are fused by design.
Why is that significant? Because it tells us where Musk believes the future is going—and it’s not toward modular platforms. It’s toward centralized AI-native ecosystems, where content, behavior, and computation live under one roof.
Read the full story: xAI Buys X: Why It Happened, What It Means, and How It Works - FTW Sunday Editorial
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