The private equity giant is considering investing as the video app works to follow a law that requires it to separate from its Chinese owner, ByteDance, by next week.
The deal combined two of Mr. Musk’s companies, which have been on different trajectories. The transaction valued xAI at $80 billion and X at $33 billion, the billionaire said.
Carlos Watson, who started the now-defunct digital media company, had been sentenced to almost 10 years in prison for trying to defraud investors and lenders.
People with bond and international stock funds have held their own, despite a shaky U.S. stock market and the uncertainty and turmoil flowing from the White House.
President Trump has targeted big law firms that he claims have “weaponized” the legal system. On Friday, Jenner & Block and WilmerHale fought back in court.