[derf_]

> Also, how did Blackrock get so wealthy so fast? They've only been around since 1988.

It is not their money. They have roughly $11.5 trillion of assets under management, but their market cap is only $161.5b (on net income of about $6b). Compare that to xAI, which has existed for less than two years and has a valuation around $50b.

[bb88]

It is money that Blackrock does control (hence under management). So when they move money, the market does feel it.

xAI has yet to actually move the market needle, other than getting venture capitalists to sign away money they would have done otherwise.