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Fortune

Jason Ma

Fidelity boosts valuations of its stakes in Elon Musk's X and xAI startup, report says

Elon Musk Fidelity Elon Musk X XAI Axios Twitter Inc. Donald Trump

Elon Musk (Credit: Marc Piasecki—Getty Images)

After marking down the value of its investment in Elon Musk's X repeatedly, Fidelity boosted its estimate last month for its stake in the social media platform, sources told Axios.

October saw a 32.37% jump in the valuation, marking the biggest monthly increase since Fidelity helped Musk buy Twitter for $44 billion in 2022, the report said.

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