AAccording to recent filings, Fidelity Investments increased its valuation of Elon Musk’s social media platform X (formerly Twitter) by 32.4% in October 2024.

This represents the largest increase since Musk acquired the platform in 2022 for $44 billion, filings show.

Despite the significant 32% increase, the updated valuation is still almost 72% lower than the original purchase price, reflecting the ongoing challenges the platform faces in fully recovering its previous value.

However, the rise in valuation signals renewed investor optimism about X’s future prospects.

The latest filings suggest that the positive adjustment is due to Musk’s efforts to improve its monetization strategy

Additionally, the platform has made strides in integrating advanced technologies such as artificial intelligence, an area that Musk is pursuing aggressively with his AI company xAI.

Fidelity’s updated valuation of Musk’s ventures in both social media and AI have been central to his broader strategy to expand technological capabilities.

The rise in valuation of major investors such as Sequoia Capital, Morgan Stanley and BlackRock have backed the AI ​​startup and further strengthened Musk’s technology portfolio.

xAI focuses on developing advanced AI models, including Grok 3, which aims to compete in the rapidly growing AI landscape.

These recent filings illustrate Fidelity’s growing confidence in Musk’s ability to both

While critics have questioned the original price paid for Twitter, Musk’s aggressive innovation strategy could ultimately bring the platform closer to its original value and offer hope for future growth.

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