Elon Musk’s X is in talks to raise funds from investors at a valuation of $44 billion, Bloomberg News Report. Musk bought X for the same price in 2022, formerly known as Twitter.
The news came as Fidelity Investments tagged about 70% of its shares in December on its Twitter shares in December due to social network efforts to retain advertisers.
Bloomberg reports that negotiations for the new financing are underway and details may change. The company may also give up on negotiations.
The investment round will be the first on social networks since Musk took it private.
Valuations of other Musk companies have soared as he plays a major role in President Trump’s administration. Tesla’s stock price has risen more than 40% since Trump’s election, while SpaceX was worth $35.5 billion in December. Musk’s artificial intelligence startup XAI is also negotiating to raise $10 billion at a valuation of $75 billion.
