Elon Musk's X valued at $44bn in new fundraising talks - report

(Sharecast News) - Elon Musk's X is reportedly in discussions with investors regarding a fundraising that is valuing the social media company at $44bn. According to people close to the matter, cited by Bloomberg, the valuation matches the price that Musk paid for the platform in 2022, then called Twitter.

The would be the first investment round since X was taken private, though discussions are still ongoing and subject to change, Bloomberg reported.

It is unclear how X still warrants the same valuation as it did three years ago, with major brands having boycotted the platform in protest of Musk's takeover.

Advertisers have raised concerns about content moderation, alongside the company's controversial overhaul - which included laying off around 80% of its workers.

Nevertheless, Musk's close relationship with president Donald Trump in recent months, along with his new position within the administration, could have improved the outlook for X's business prospects.