Musk's X seeking funds at $44B—same valuation as Twitter acquisition
What's the story
Elon Musk's social media platform, X, is in talks to raise funds from investors at a $44 billion valuation.
Bloomberg News reported this on Wednesday, citing sources familiar with the matter.
The talks for this new financing round are still in progress and the details may change.
This funding round would be the first since Musk's acquisition of the social media platform in 2022.
AI startup valuation
X's funding discussions follow xAI's $10 billion talks
The latest funding talks for X follow similar discussions held by Musk's artificial intelligence start-up, xAI.
The company was reportedly in talks to raise $10 billion, which could value the AI firm at about $75 billion.
However, it is worth noting that the outcome of these talks is not confirmed yet and could change over time.
Debt sale
Wall Street banks plan to sell X's debt holdings
Separately, it was reported last month that several Wall Street banks are preparing to sell up to $3 billion in debt holdings of X.
The banks, including Morgan Stanley, Bank of America and Barclays, had previously lent funds to Musk for his $44 billion buyout of Twitter.
The potential sale of these debt holdings marks a shift in the financial landscape surrounding Musk's ventures.