X moves to secure $44bn funding from investors to assuage platform’s challenges

Social media giant, X (formerly known as Twitter), owned by Elon Musk is moving to secure the sum $44 billion in funding to assuage the platform’s challenges, particularly in maintaining advertiser support.

Reports say that the popular social media platform is negotiating to secure funding from investors due to the fact that Fidelity Investments significantly reduced its valuation of Twitter by about 70% in December.

The funding round would be a remarkable turn of fortunes for the company after Musk’s takeover and overhaul caused many users and advertisers to flee.

READ ALSO: X deactivates Kanye West’s account for sharing anti-Semitic comments

However, further reports reveal that ongoing talks for this funding round may not lead to a finalized deal with potential changes in details expected coupled with existing chances that X may abandon discussions.

This comes days after xAI owned by Musk unveiled its latest chatbot, codenamed Grok 3, which has been tagged the “smartest AI on Earth” in some quarters.

The new chatbot, Grok 3, was trained on synthetic data, according to a post made by Elon Musk on his official X page (formerly Twitter). It is intended to enhance its reasoning by considering previous mistakes and checking data for logical consistency.

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