Fidelity

Elon Musk’s xAI Raises £4.78B to Ramp up R&D Across His Firms as Revenues Near £79M Annually

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Elon Musk’s xAI Raises £4.78B to Ramp up R&D Across His Firms as Revenues Near £79M Annually

A recent US Securities and Exchange Commission (SEC) filing revealed that Elon Musk’s AI company, xAI, raised £4.78 billion ($6 billion) from 97 investors in exchange for equity. The funds will be used to expedite training its powerful AI model, Grok 3, alongside enhancing technology across SpaceX and Tesla. The Grok AI model will likely … Read more

Fidelity Values X Nearly 80% Less Than When Musk Bought It

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Fidelity Values X Nearly 80% Less Than When Musk Bought It

X, the social media site formerly known as Twitter that Elon Musk bought in October 2022 for $44 billion, is now worth $9.4 billion, according to new estimates from Fidelity. Fidelity marked down the value of X by nearly 80% (exactly 78.7%) in its Blue Chip Growth Fund annual report, filed Saturday. The filing showed … Read more