X, the social media platform formerly known as Twitter and owned by Elon Musk, is in talks to raise new funding, valuing the company at $44 billion, according to a report by Bloomberg, cited by TechCrunch.
This valuation matches the price Musk paid when he acquired Twitter in 2022. However, in December, Fidelity Investments slashed its valuation of its Twitter shares by nearly 70%, following a significant decline in advertising revenue as major advertisers distanced themselves from the platform.
Bloomberg noted that the funding discussions are still ongoing and subject to change or even cancellation. This would mark X’s first fundraising initiative since Musk’s acquisition.
Meanwhile, Musk’s other ventures have seen significant market value increases. Tesla’s stock has surged 40% since Donald Trump’s re-election as President, and SpaceX reached a valuation of $350 billion in December, up 67% from June. Simultaneously, Musk’s AI venture, xAI, is reportedly in talks to raise $10 billion in funding, targeting a valuation of $75 billion.
