Billionaire Elon Musk is in talks to invest the amount he paid for social media company X in 2022, when it was still called Twitter.
Billionaire Elon Musk is in talks to invest the amount he paid for social media company X in 2022, when it was still called Twitter.
Elon Musk’s Company X intends to raise money from investors at a valuation of $44 billion, Bloomberg writes, citing information from sources familiar with the matter.
This is the first known investment round for the social media company since Musk bought it out. And, according to sources, the details of the negotiations for the new funding round could change. It is not excluded that X could abandon the search for investment.
As a reminder, xAI, an artificial intelligence development company founded by Elon Musk in March 2023, raised $6 billion at a valuation of $24 billion in a Series B round in May 2024. At the end of November 2024, it was reported that the company had raised another $5 billion at a valuation of $50 billion. At the end of December 2024, xAI completed a Series C financing round and raised $6 billion in investments.
xAI is also seeking funding, with its valuation having risen in recent weeks. The AI company is gathering potential investors for a funding round that could value it at around $75 billion, although terms have not yet been finalized and could change, Bloomberg News reported. X has a stake of around $6 billion in xAI.
Recall, yesterday, Elon Musk’s startup xAI presented «the smartest artificial intelligence on Earth» — the chatbot Grok 3. More than 100,000 people watched the demonstration of the launch of a new player in the AI market.
