So, not profitable.

The company is profitable. The debt is unrelated to assets acquired or previous deficits.

a.k.a the worst kind of financial engineering. The company is not profitable if it doesn't make a profit when all things are considered.

And we're not even talking about the missed opportunity costs of the ~ $27bn cash used to purchase Twitter. Most of that value is completely gone.

If you were an investor in X and put up some of that $27 billion dollars you now own shares in xAI, so it's not not gone.

You can dress it up in "financial alchemy" like any hedge fund, but it doesn't disguise the fact that the last person to carry that can is going to lose a lot of very real money.

That doesn't even make any sense.

So much financial sophistry going on here, can almost see the sequel to the CDS infused trauma of 20 years ago coming down the line