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Fidelity Continues to Increase Valuation of Elon Musk's xAI and X

share-iconTuesday, December 31 comment-icon3 weeks ago 4 views
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businessinsiderBUSINESSINSIDER
Fidelity Continues to Increase Valuation of Elon Musk's xAI and X

Credited from: BUSINESSINSIDER

  • Fidelity has raised the valuation of Elon Musk's tech firms, xAI and X, marking the third consecutive month of increases.
  • The valuation for xAI increased to $79,857,865 at the end of November, a 6.39% rise from the previous month.
  • Fidelity's Blue Chip Growth Fund participated in a recent $6 billion funding round for xAI, which closed on December 23.
  • The shares of X were valued at $5,797,734, reflecting a 5% increase from October and a significant 39% from September.
  • Despite these rises, Fidelity's investments in X still remain below the initial purchase price from Musk's 2022 acquisition.

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