Fidelity Investments boosted valuations for Elon Musk's X and xAI, despite X's overall value being 72% lower post-acquisition.

Fidelity Investments raised the value of its holdings in Elon Musk's X (formerly Twitter) by 32.37% in October, its first increase since 2022. Despite this boost, X's overall value remains 72% lower than what Musk paid in 2022. Fidelity also increased the valuation of Musk's xAI by 70%, suggesting a positive outlook on Musk's ventures, especially following the election of Donald Trump, which boosted traffic on X.

December 01, 2024
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