In October, X’s valuation jumped by 32.37%, the largest monthly increase since Fidelity helped Musk buy Twitter for $44 billion in 2022.
Fidelity's valuation estimates for November are expected to show further gains as Musk's companies soared following Trump's election, aiming to cut corporate taxes.
Fidelity raised its valuation of xAI by around 70%, likely due to its connection with X, believed to own a major stake in the AI startup.
Fidelity believes X is worth nearly 72% less than Musk's purchase price, an improvement from a summer evaluation where it was marked down almost 79%.
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