![AXIOS: Fidelity marked up the value of its X Holdings shares by 32.37% in October, the largest monthly increase since helping Elon Musk buy the company in 2022. [1272x1280 - 460KB]](https://pic8.co/sh/Y5NIbA.png){kind=link}
Even with the valuation boost, Fidelity believes X is worth nearly 72% less than the $44 billion purchase price.
Fidelity, which began marking down the company's shares just a month into Musk's stewardship, doesn't necessarily have any inside information on the X's financial performance, despite being a shareholder.
Comparable companies like Meta and Snap didn't experience similar stock price boosts in October, with Meta actually losing value.
The most likely explanation for X's price increase relates to xAI, a separate Musk company that is training its large language model on X data.
Source (x.com)
Archive (archive.is)
> Even with the valuation boost, Fidelity believes X is worth nearly 72% less than the $44 billion purchase price.
> Fidelity, which began marking down the company's shares just a month into Musk's stewardship, doesn't necessarily have any inside information on the X's financial performance, despite being a shareholder.
> Comparable companies like Meta and Snap didn't experience similar stock price boosts in October, with Meta actually losing value.
> The most likely explanation for X's price increase relates to xAI, a separate Musk company that is training its large language model on X data.
[Source](https://x.com/dotconnectinga/status/1863249966644203683)
[Archive](https://archive.is/5EZQw#selection-673.1-681.0)
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