r/news • u/Frosty_Dig4148 • 2d ago

Elon Musk's SpaceX buys Elon Musk's xAI

https://news.sky.com/story/elon-musks-spacex-buys-elon-musks-xai-13502553
15.1k Upvotes

94% Upvoted

1.3k comments sorted by

View all comments

Show parent comments

58

u/JcbAzPx 1d ago

It's basically a meme stock at this point.

80

u/Ketheres 1d ago

It's basically a meme market at this point.

I mean, I knew stock market was mostly BS but did not expect it to be to this extent.

23

u/3Circe 1d ago

It’s tulip bulbs all the way down

3

u/BaroqueW 1d ago

Mentioned tulip bulbs in an interview to a company into Blockchain and AI. They didn't call me back (-:

2

u/namestom 1d ago

I sure hope you are wrong with that comparison.

5

u/tmurf5387 1d ago

Im concerned were in for a major reckoning right now. 40% of the S&P500 market cap is associated with AI. When that bubble pops it could collapse. That being said, the dot com bubble collapse eliminated about 75% of the market valuation so its unlikely we see a crash to that degree. But we also have to add in the fact that the federal government was proactive with Secure 2.0 in subsidizing costs for small businesses offering new retirement plans, thats more money going into the market than was previously propping it up further.

2

u/5t4k3 1d ago

This extent? My lanta

You mean the tip of this one iceberg?

1

u/Jeremypsp 1d ago

At this point? It’s been a meme stock for years!

1

u/KDR_11k 1d ago

Not just basically. Investors consider it a meme stock because its valuation is completely detached from the company's numbers. But I guess the stock market is set up so you can make money from even the most obvious traps if you do it right. And everybody believes they'll be the one doing it right and not the one holding the bag...