Musk's xAI Startup Swallows Up X Social Network in Deal скачать в хорошем качестве

Musk's xAI Startup Swallows Up X Social Network in Deal

The debt issued by Elon Musk’s social media company X Holdings Corp., formerly Twitter Inc., was up on Monday after Musk announced that the company had been acquired by his artificial intelligence startup xAI at a valuation of $33 billion.   The debt issued by Elon Musk’s social media company X Holdings Corp., formerly Twitter Inc., was up on Monday after Musk announced that the company had been acquired by his artificial intelligence startup xAI at a valuation of $33 billion.   The $4.74 billion fixed rate 9.5% term loan issued by X jumped by over 50 basis points, or half a percentage point, to a range of 102.5 to 102.875 cents on the dollar on Monday, up from a range of 101.875 to 102.125 cents on the dollar on Friday, according to people familiar with the trading. Meanwhile, a $6.5 billion institutional term loan rose about 25 basis points, or a quarter of a percentage point, to a range of 99.5 to 99.75, from Friday’s open of 99.25 to 99.50 cents on the dollar, the people said.  These loans had initially been stuck with the banks that issued them during Musk’s acquisition of X in 2022. In February, though, Musk’s changing fortunes — and X’s stake in xAI — allowed the banks to offload the debt to investors.  Read More: Morgan Stanley, Banks Shed Bulk of X Debt With $4.7 Billion Deal Those investors are now profiting from the surprise purchase of X by xAI. The billionaire wrote Friday in a post on X that the “combination values xAI at $80 billion and X at $33 billion.”    In the February sale, the majority of the term loan was sold at at 97.0 cents on the dollar, while the fixed rate loan went for face value, or par. The debt has been increasing in value since then in the secondary market, with Monday’s gains representing the latest leg up.  The moves on the X loans come at a time when the broader debt market is fragile due to the uncertainty created by US President Donald Trump’s tariff campaign. The Morningstar LSTA US leveraged loan price index has declined for nine straight weeks leading into last week’s close. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloomberg-news