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.
Social media platform X faced outages affecting 12,000 users on Monday, following a cyberattack described by owner Elon Musk as a large, coordinated effort.
In a move with potentially far-reaching implications for the tech industry in Europe, Italian tax authorities have extended their investigation to Elon Musk’s social network X, seeking €12.5 million in value-added tax (VAT) for the period 2016 to 2022, Reuters has reported.
Elon Musk, appointed by President Donald Trump to lead the newly named Department of Government Efficiency and tasked with rooting out waste in federal agencies, renewed his threat to fire federal workers who fail to justify their jobs.
San Francisco, February 17, 2025 – Hours after Elon Musk’s AI venture, xAI, released its latest model, Grok 3, X has significantly raised the price of its Premium+ subscription plan. The updated pricing on X’s support page now lists the U.S. monthly subscription at $50 and the annual plan at $350.
Berlin, Germany, February 17, 2025 – X, the social media platform owned by Elon Musk, is contesting a Berlin court order issued on February 7 that mandates immediate access to public platform data for two civil society organizations.
A new national forest stretching from the Cotswolds to the Mendips is set to be created, the UK government has announced. 20 million trees set to be planted across the West of England in the coming decades, creating at least 2,500 hectares of new woodland.
Hong Kong's iconic landmarks dimmed their lights on Saturday evening for Earth Hour, joining a global movement to raise awareness about climate change and promote energy conservation. The city's participation in the annual event highlighted the growing commitment to sustainability and environmental
Rwanda-backed M23 rebels have announced plans to reposition their forces from the town of Walikale, which they seized earlier this week, in an effort to support broader initiatives aimed at addressing the ongoing conflict in eastern Democratic Republic of Congo.
UNICEF on Saturday urged the interim Taliban-led administration in Afghanistan to lift the ban on girls' secondary education as the new school year begins without girls for a third consecutive year.
Pope Francis will make his first public appearance in five weeks on Sunday, offering a blessing from his hospital window as he recovers from double pneumonia.
NASA astronauts Butch Wilmore and Suni Williams completed an unexpectedly long 286-day mission on the ISS, returning to Earth aboard a SpaceX capsule after delays caused by technical issues with Boeing’s Starliner.
In a groundbreaking study published in Cell on January 18, Chinese researchers have unveiled a novel cancer treatment that ingeniously disguises tumors as pig tissue, triggering the body’s immune system to mount a hyperacute rejection response against the cancer cells.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
Russian President Vladimir Putin agreed on Tuesday to a proposal by U.S. President Donald Trump that Russia and Ukraine cease attacking each other's energy infrastructure for 30 days, the Kremlin said following a lengthy phone discussion between the leaders.
On March 16, at around 09:45, Armenian armed forces opened fire on Azerbaijani positions located in the direction of the Digh settlement in the Goris region, using firearms, according to Azerbaijan's Ministry of Defence.
Nvidia CEO Jensen Huang forecasted a rapid arrival of humanoid robots in manufacturing, stating that widespread use in factory settings is likely within the next few years.
A massive, unanticipated disconnection of data centers in a 30-square-mile area outside Washington, D.C. has exposed a fresh vulnerability in America’s electrical grid, raising concerns that the rapid expansion of Big Tech’s energy-hungry facilities could trigger cascading outages.
U.S. Commerce Department bureaus have reportedly issued a blanket ban on the Chinese AI model DeepSeek for use on government-furnished equipment, according to sources and a mass email seen by Reuters.
Apple’s current focus on an extensive visual overhaul of iOS 19 and macOS 16—rumored to be inspired by the design language of visionOS—might be distracting the company from addressing a more pressing issue: its long-delayed, underwhelming Siri.
In a sweeping regulatory move aimed at curbing misinformation and enhancing transparency, Chinese authorities have announced new rules requiring all AI-generated content to be clearly labeled.
A new national forest stretching from the Cotswolds to the Mendips is set to be created, the UK government has announced. 20 million trees set to be planted across the West of England in the coming decades, creating at least 2,500 hectares of new woodland.
Hong Kong's iconic landmarks dimmed their lights on Saturday evening for Earth Hour, joining a global movement to raise awareness about climate change and promote energy conservation. The city's participation in the annual event highlighted the growing commitment to sustainability and environmental
Rwanda-backed M23 rebels have announced plans to reposition their forces from the town of Walikale, which they seized earlier this week, in an effort to support broader initiatives aimed at addressing the ongoing conflict in eastern Democratic Republic of Congo.
UNICEF on Saturday urged the interim Taliban-led administration in Afghanistan to lift the ban on girls' secondary education as the new school year begins without girls for a third consecutive year.
Pope Francis will make his first public appearance in five weeks on Sunday, offering a blessing from his hospital window as he recovers from double pneumonia.
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