Fidelity Increases Valuation of Musk's X and xAI Investments
TL;DR
Fidelity has increased the valuation of its stake in Elon Musk's X (formerly Twitter) by 32.37% in October, despite still valuing the company significantly lower than Musk's 2022 purchase price. This adjustment is likely linked to Fidelity's investment in Musk's AI startup xAI, which saw a 70% markup in its shares. The move precedes Donald Trump's election victory, which boosted traffic on X but also led users to rival platforms.
- Fidelity reportedly marked up its X stake by 32 percent TechCrunch
- Critics said Musk 'overpaid' for Twitter. Thanks to Trump and xAI, it could actually be a steal. Yahoo! Voices
- Fidelity boosts valuations of its stakes in Elon Musk’s X and xAI startup, report says Fortune
- Scoop: Fidelity marks up the value of its stake in Elon Musk's X Axios
- Musk investors who got hosed on Twitter takeover set to reap windfall as xAI value surges: report New York Post
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