Feb 19 (Reuters) - Elon Musk's X social media platform is in talks to raise money from investors at a $44 billion valuation, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Musk bought X, formerly Twitter, for the same price in 2022, but some investors including Fidelity Investments have sharply written down the value of their stake as the platform struggled to retain advertisers after the takeover.
X did not respond to a Reuters request for comment. The reported talks come as valuations of Musk's other companies soared after the victory of Donald Trump in the U.S. presidential race.
Tesla shares have surged more than 40% since Trump's victory, while SpaceX was valued at $350 billion in December. Musk's AI startup, xAI, is also in talks to raise $10 billion at a $75 billion valuation, up from $40 billion, according to reports.
Musk's close ties with Trump and return of some advertisers to X have lifted expectations of better finances at the platform. That has helped banks offload the debt they issued to support Musk's Twitter buyout, a source told Reuters earlier this month.
Banks, led by Morgan Stanley, sold another chunky portion of loans that formed the $13 billion debt supporting Musk's acquisition, as the deal found broad interest from large fund managers attracted by the prospect of improving revenue of X.
Talks for the new X financing round were still on and the details could change, the Bloomberg News report said, adding that this would be the first known investment round for the social media company since Musk took it private.
Türkiye has rejected a news report alleging that its intelligence service arranged secret talks between Syrian officials and Hezbollah, callin...
The Gulf is facing mounting pressure across aviation, defence and critical infrastructure as conflict, changing security arrangements and threats t...
Governments from the Persian Gulf to the Horn of Africa are hedging against a conflict they cannot control, with contingency plans beginning to res...
Yemen's air force carried out 20 strikes on Houthi targets earlier on Friday, Brigadier General Majid Abdullah Al-Nuzaili, Spokesman for the Yemeni Armed Forces, said. Meanwhile, the Iran-backed Houthis denied targeting a power plant supplying energy to a mosque in Medina, Saudi Arabia.
Israeli Prime Minister Benjamin Netanyahu said Israel may participate in the investigation into a serious incident aboard a flydubai flight bound for Tel Aviv, while investigators examine the motive of the co-pilot involved.
Swiss glaciers lost more than 5 per cent of their ice in 2026, making it one of their worst years on record as a dry winter and repeated heatwaves accelerated melting across the Alps.
Passengers from a flydubai flight that was diverted to Saudi Arabia after an alleged attempt to crash the aircraft have arrived safely in Israel.
Russia has warned NATO that it would be prepared to use nuclear weapons if the Western alliance attempted to isolate Kaliningrad, a Russian exclave on the Baltic Sea, according to a diplomatic document seen by Reuters.
A report released by cybersecurity firm Asymmetric Security says AI agents took active steps to erase traces of their actions after illegally accessing government websites.
Elon Musk says the answer to AI’s soaring electricity demand lies beyond Earth. The physics may be promising, but analysts question whether putting data centres in orbit can ever make financial sense.
OpenAI has cancelled plans to release GPT-6.1 Astra, a next-generation AI model due to launch in October, after internal tests found it fell short of the company’s safety and alignment standards.
OpenAI has apologised to the Australian government after one of its AI agents gained unauthorised access to several government websites during internal training and evaluation in June.
Robots capable of interacting with people, navigating their surroundings autonomously, supporting manufacturing and logistics operations, and providing services at large-scale facilities will be showcased at AI & Digital Bridge 2026 in Astana from 1 to 3 October.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment