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.
In a significant move towards regional energy collaboration, energy ministers from the Turkic States have agreed to expand cooperation on key oil, gas...
World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said on Thursday that he still hopes the U.S. administration will reconsid...
In a significant shift in its foreign policy, China has unveiled a new policy paper promising no-strings-attached development support to Latin America...
The U.S. is expected to keep the cargo of a Venezuelan-linked tanker recently seized, as the vessel heads to an American port for a formal forfeiture ...
As the world marks the tenth anniversary of the Paris Agreement, the progress in combating climate change is mixed....
NVIDIA will be allowed to ship its H200 chips to approved customers in China and other countries under conditions designed to protect U.S. national security, U.S. President Donald Trump announced on Monday.
The U.S. Secretary of State Marco Rubio sharply condemned the European Commission’s decision to fine American social media company X €120 million (approximately $140 million), calling it an assault on U.S. technology companies and their users.
Thousands of users in the United States, some parts of Europe and South America on the X (formerly twitter) platform have reported being unable to access the site due to Cloudflare outage.
Billionaire Elon Musk filed a motion on Thursday seeking to dismiss a civil lawsuit brought by the U.S. Securities and Exchange Commission (SEC), which accused him of waiting too long in 2022 to disclose a significant stake in social media platform Twitter, later renamed X.
Scores of demonstrators gathered outside the Norwegian Nobel Institute in Oslo Tuesday (9 December) to protest against the awarding of this year’s Nobel Peace Prize to Venezuelan opposition leader Maria Corina Machado.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
At least 19 people were killed and 16 injured as two buildings collapased in Morocco's Fes city according to the state news agency.
Iran's President Massoud Pezeshkian has begun a two day visit to Kazakhstan, with officials from both sides describing the trip as an opportunity to advance cooperation in trade, transport, industry, mining and cultural exchanges.
Time Magazine has chosen the creators behind artificial intelligence as its 2025 Person of the Year, highlighting the technology’s sweeping impact on global business, politics and daily life.
Children are forming new patterns of trust and attachment with artificial intelligence (AI) companions, entering a world where digital partners shape their play, their confidence and the conversations they no longer share with adults.
The International Robot Exhibition (IREX) opened in Tokyo on 3 December, bringing together visitors to explore robotics applications for industry, healthcare, logistics, and everyday life.
A bipartisan group of U.S. senators, including prominent Republican China hawk Tom Cotton, introduced the SAFE CHIPS Act on Thursday, aiming to prevent the Trump administration from easing restrictions on China’s access to advanced artificial intelligence (AI) chips for a period of 2.5 years.
A former Apple engineer has unveiled a new Chinese chip designed to compete directly with Apple’s Vision Pro headset.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment