🤖 Elon Musk’s xAI Just Acquired His X/Twitter In A $33 Billion Dollar Deal

In today’s newsletter we discuss Elon Musk’s AI company xAI acquired X/Twitter for $33 billion dollars, egg prices are starting to drop, Aston Martin is selling their minority stake in their Formula 1 team, Apple fanboys get excited about the fake retro-futuristic Lumon Terminal Pro, the FDIC rescinded their guidance requiring banks to seek permission before engaging in crypto-related activities, and Former Miami Dolphins star Mike Pouncey is selling his $7M Florida home that comes with its own oceanfront football field.

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WHAT WE’RE READING

🤖 Elon Musk’s AI Company xAI Just Acquired His Social Media Company X/Twitter In A $33 Billion Dollar Deal

Elon Musk's xAI has acquired X, formerly known as Twitter, for a reported $33 billion dollars, plus the assumption of $12 billion dollars in debt from the initial acquisition of Twitter. While framed as a strategic integration to boost AI development using X's data, the deal raises significant questions about its true motivations and timing.

The $45 billion liability placed on xAI, a relatively young AI startup, would usually be a major stumbling block to completing a deal of this size, but with Elon Musk’s reality distortion field apparently investors aren’t worried at all. What’s a little conflict of interest when everyone is making money?!?!

The question has to be asked: is this a genuine push for AI advancement or a complex financial maneuver designed to consolidate Elon Musk's holdings.

Don’t even get me started on data privacy concerns, of which there are many! Then there’s the curious timing of the acquisition, amidst X/Twitter's struggles to retain advertisers and users, and all the protests targeting Tesla amidst Elon Muck’s continued involvement in the Trump administration’s DOGE efforts to trim in ambitious $1.5 trillion dollars from the federal budget through layoffs and federal budget cuts.

While xAI touts the potential for groundbreaking AI advancements, the deal's financial complexities and potential conflicts of interest give me a little pause, and I’m not the only one who thinks something is fishy here. Whether this acquisition will truly unlock AI innovation and unleash investor value remains to be seen, but Elon Musk seems to be on the winning side of this deal no matter what happens.

🥚 Business

Stubbornly high egg prices have been the bane of breakfast eaters and bakers for the last few months, but the good news (even if it’s just temporary) is the price for eggs is starting to come down even if just a little bit.

If you aren’t a fan of breakfast, or like fresh baked goods for that matter, then you might not have even known egg prices were at an all-time high thanks to the devastating impact of bird flu.

The resulting culling of vast numbers of egg-laying hens has severely constricted supply, leading to those eye-watering price tags at the grocery store. While wholesale egg prices show signs of a slight descent, with Easter approaching and its traditional surge in demand, that reprieve from high prices might only be temporary. 

💻 Tech

Apple enthusiasts were sent into a frenzy when the sleek, retro-futuristic Lumon Terminal Pro mysteriously appeared on Apple's website, sparking fervent speculation about a groundbreaking new product. Social media exploded with unboxing fantasies and detailed technical analyses, fueled by the device's intriguing design and cryptic descriptions.

Sadly, that excitement was short-lived when it was quickly revealed that the "computer" was merely an elaborate marketing stunt for the Apple TV+ series "Severance," leaving many fans both impressed by the immersive campaign and slightly disappointed by the lack of a genuine new retro Apple product.

🏡 Real Estate

Former Miami Dolphins star Mike Pouncey has listed his amazing $7 million dollar Florida home for sale, and it comes without a pretty unity lawn of sorts. The property is located in Fort Lauderdale, and boasts a 4,380-square-foot, three-story mansion with 100 feet of frontage on a waterway with ocean access. Mike Pouncey purchased the home in 2020 for $4.1 million dollars, and has listed it for $6.95 million dollars. 

The home comes with its very own private waterfront football field that occupies half of the double lot. The fully turfed and illuminated field features the Miami Dolphins logo at center field, a putting green, and a basketball court. The rest of the property includes a dock for his yacht, an extensive outdoor kitchen, a fountain with a reflection pond, and a rectangular pool. Inside the mansion there are 5 bedrooms and 6.5 bathrooms, with an open floor plan and soaring ceilings with floor-to-ceiling windows. Mike Pouncey and his family are relocating to their newly built "retirement home" on a 220-acre ranch in Okeechobee, FL.

No word yet on if his new ranch will feature a covered stadium.

🪙 Crypto

The Trump administration’s FDIC has rescinded its prior regulatory guidance requiring banks to seek permission before engaging in crypto-related activities. This decision, announced on Friday, March 28, 2025, is aimed at easing regulatory hurdles, and is intended to support the growth of cryptocurrency markets.

The FDIC clarified that banks can participate in activities involving emerging technologies like crypto and digital assets, provided they adequately manage the associated risks. This move reverses a 2022 notification that was used to discourage banks from engaging in cryptocurrency and blockchain transactions. 

🏁 Sports

Aston Martin is selling its remaining minority stake in their Formula 1 team, which is valued at approximately $95 million dollars. The company has said the sale will not affect their long-term sponsorship agreement of the Formula 1 team, known as the Aston Martin Aramco Formula One Team. Chairman Lawrence Stroll is investing an additional approximately $67 million dollars of his own money into the business, having already invested around $770 million dollars since 2020. The sale of their Formula 1 stake is expected to generate over $160 million dollars in liquidity for the company. Lawrence Stroll has confirmed that the Aston Martin brand will continue to be represented in Formula 1 at least until 2030.

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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.