FIDELITY BETS BIG ON ELON MUSK: X AND xAI VALUATIONS SOAR!
Fidelity Investments has significantly increased its investment in Elon Musk's ventures, demonstrating growing confidence in both X (formerly Twitter) and the groundbreaking xAI. Here’s the scoop:
📈 X's Comeback Journey
After Musk's $44 billion acquisition of Twitter in 2022, X faced a sharp valuation decline. However, in December 2023, Fidelity upped X’s valuation by 11%, reflecting renewed optimism. Despite this boost, X's valuation remains 68% below its purchase price.
🤖 xAI’s Explosive Growth
Musk's AI startup, xAI, is on a rapid ascent. In November 2024, it secured a $5 billion funding round, doubling its valuation to $50 billion. Fidelity and other investors, who supported Musk's Twitter acquisition, gained a 25% stake in xAI.
🔗 Synergy in Musk’s Empire
The fusion of X and xAI is creating a dynamic ecosystem. xAI leverages X's vast data to train its cutting-edge AI models, driving innovation while enhancing X with advanced AI features to attract users and advertisers.
Fidelity’s strategic move highlights the tremendous growth potential of Musk's interconnected ventures, reinforcing his vision for a transformative business empire.
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