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.
Protesters and police clashed in Nepal leaving two dead and 17 injured as demonstrators rallied to demand the return of the constitutional monarchy.
U.S. Vice President JD Vance criticized Denmark’s handling of Greenland’s security during a visit to the U.S. base at Pituffik.
U.S. Vice President JD Vance visited Greenland’s Pituffik military base amid renewed calls from President Trump for U.S. control of the island. The trip sparked protests, with Greenland’s leader calling it a "lack of respect." Trump insists Greenland is vital for U.S. security and global stability.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
The Trump administration is importing eggs from Türkiye and South Korea to address shortages and record-high prices caused by a severe bird flu outbreak.
The model aims to enhance Alibaba’s presence in the generative AI sector and is available as open-source.
OpenAI has asked the US government to permit AI companies to use copyrighted material for training to maintain America's leadership in AI development, as part of a proposal aligned with President Trump's upcoming "AI Action Plan."
Kim Jong Un watched tests of new AI drones and wants to increase the production
South Korean chipmaker SK Hynix said Thursday that some customers have accelerated orders in anticipation of potential U.S. tariffs on semiconductors, contributing to improved market conditions. However, the company cautioned that it remains unclear whether this trend will persist.
Despite its dominance in industrial robotics, China faces challenges in the race for humanoid robots due to its reliance on foreign technology and U.S. trade restrictions.
Protesters and police clashed in Nepal leaving two dead and 17 injured as demonstrators rallied to demand the return of the constitutional monarchy.
U.S. Vice President JD Vance criticized Denmark’s handling of Greenland’s security during a visit to the U.S. base at Pituffik.
U.S. Vice President JD Vance visited Greenland’s Pituffik military base amid renewed calls from President Trump for U.S. control of the island. The trip sparked protests, with Greenland’s leader calling it a "lack of respect." Trump insists Greenland is vital for U.S. security and global stability.
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