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.
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.
Donald Trump has withdrawn his appeal in a lawsuit against Twitter (now X) over the suspension of his account following the January 6, 2021, Capitol riot. A joint court filing, first reported by Bloomberg, shows that lawyers for both Trump and X requested the case be dismissed, effectively ending th
X is set to roll out its long-anticipated payments service, X Money, later this year, with Visa as its initial partner, CEO Linda Yaccarino announced.
Pope Francis is showing improvement, the Vatican said, as the pontiff began his eighth day in hospital. Francis was admitted after struggling with breathing and is being treated for pneumonia.
EU boosts undersea cable security with nearly €1B reallocation, enhancing surveillance, deterrence, and rapid response. A new data-sharing system, drone program, and emergency repair fleet aim to protect critical infrastructure amid rising sabotage concerns.
China's centuries-old treasures have been pulled out of storage to be restored for display at Beijing's Forbidden City and Palace Museum. Meticulous repairs are needed ahead of the museum's 100th anniversary this year.
USAID has long promoted itself as a supporter of press freedom, but reports suggest its media funding may have influenced domestic narratives in Europe and post-Soviet states. With the Trump administration freezing its grants, the agency’s role in shaping global information is under scrutiny.
A Delta Air Lines regional jet flipped upside down upon landing at Toronto Pearson Airport on Monday, injuring 18 people. Officials are investigating whether strong winds and snow played a role in the incident.
A tragic crowd crush at New Delhi Railway Station on Saturday night left 18 dead and 10 injured as thousands of people, many heading to the Kumbh Mela festival, attempted to board delayed trains. The incident highlights the ongoing risks of overcrowding at public transportation hubs in India.
Moscow, February 20, 2025 – Russia is intensifying its push to join the global artificial intelligence race, aiming to harness AI for both civilian and military applications and to bolster its economy despite ongoing sanctions and stiff competition from the United States and China.
China is set to leverage artificial intelligence in its ambitious mission to explore the outer reaches of the solar system, aiming to enhance spacecraft autonomy and improve data processing for deep space exploration.
China has launched PUMCH-GENESIS, an AI model designed to speed up and improve the diagnosis of rare genetic diseases. Developed with the Chinese Academy of Sciences, it helps detect conditions, recommend specialists, and manage appointments.
Polish startup Clone Robotics has unveiled Protoclone, the world’s first anatomically accurate humanoid robot, featuring artificial muscles, bones, and joints that enable lifelike movements.
Google on Wednesday rolled out an update for iOS that lets users search what’s on their screen with a simple gesture. The new feature, available in both the Google Chrome and Google Search apps, is similar to Android’s built-in “Circle to Search” function.
Pope Francis is showing improvement, the Vatican said, as the pontiff began his eighth day in hospital. Francis was admitted after struggling with breathing and is being treated for pneumonia.
EU boosts undersea cable security with nearly €1B reallocation, enhancing surveillance, deterrence, and rapid response. A new data-sharing system, drone program, and emergency repair fleet aim to protect critical infrastructure amid rising sabotage concerns.
China's centuries-old treasures have been pulled out of storage to be restored for display at Beijing's Forbidden City and Palace Museum. Meticulous repairs are needed ahead of the museum's 100th anniversary this year.
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