Golden Finance reports that Fidelity raised the valuation of X Holdings stock by 32.37% in October, marking the company's largest monthly adjustment since supporting Elon Musk's acquisition in 2022. However, this valuation still reflects a nearly 72% decline from Musk's initial acquisition price of $44 billion. xAI also has a connection to X Holdings through equity. Fidelity participated in xAI's $6 billion Series B financing. In October, it raised the value of these stocks by about 70%, which may have influenced its valuation approach for X Holdings.