Until just recently, CNN reports, for example (and so many others, by the way), could barely hide their satisfaction over the idea that X was spiraling toward failure under Elon Musk. Just some weeks earlier, everybody seemed to cheer highlighted estimates from investment firm Fidelity.
Their recent valuation suggested X was now worth just $9.4 billion – an almost 80% collapse from the $44 billion Musk paid in 2022. Fidelity’s numbers were said to serve as a damning indictment of Musk’s leadership, with the report fixating on plummeting ad revenue and brands allegedly fleeing the platform over content concerns.
Musk grossly overpaid, everybody sang in tune.
This may be happening, but not anytime soon – as Bloomberg reports that Musk’s X is currently in talks to raise money at a $44 billion valuation. Again, $44 billion is exactly what Musk paid some years ago to acquire Twitter.
According to sources familiar with the matter, the talks are ongoing and could change, but this marks the first potential investment round for the platform since Musk’s acquisition.
Musk’s broader business empire has been thriving. Tesla shares have surged over 40% since Donald Trump’s election, and SpaceX’s valuation has climbed to $350 billion. Meanwhile, Musk’s AI venture, xAI, is seeking new funding at a potential $75 billion valuation, with X holding a $6 billion stake in the company.
Mere hours ago, Elon Musk’s AI startup xAI launched Grok-3, its latest chatbot. It’s aiming to compete with DeepSeek, OpenAI, and Google.
The rollout comes amid an escalating AI race, with Grok-3 now available to Premium+ subscribers on X and through a new SuperGrok tier for app and website users. Musk claims Grok-3 surpasses its predecessor.
xAI is expanding its data center capacity, with its Memphis-based “Colossus” supercomputer touted as the world’s largest. Meanwhile, Musk’s $97.4 billion bid to acquire OpenAI’s nonprofit assets was recently rejected, adding another layer to the competition.
