On February 19, Reuters reported that Elon Musk's social media company X is in discussions with investors to secure funding at a $44 billion valuation, according to sources familiar with the matter cited by Bloomberg News.
Musk acquired X, previously known as Twitter, for the same amount in 2022.
Negotiations for the new funding round are ongoing, with potential for details to change or for the discussions to be terminated, as stated in the report.
X has not yet responded to Reuters' request for comment.
In the previous month, Reuters disclosed that Morgan Stanley, Bank of America, and Barclays were preparing to sell up to $3 billion of debt holdings in X.