According to a report by Bloomberg News, Elon Musk’s X is currently engaged in discussions with investors to secure funding at a valuation of $44 billion. Notably, this is the same price at which Musk acquired the platform, then known as Twitter, in 2022.

This development comes on the heels of Fidelity Investments reducing the value of its Twitter stake by approximately 70% in December, compared to the original sale price in 2022. This move was largely attributed to the social network’s struggles in retaining advertisers.

As reported by Bloomberg, the talks regarding the new financing round are ongoing, and the details are subject to change. There is also a possibility that the discussions may not lead to a conclusive agreement.

If successful, this investment round would mark the first major financing effort for the social network since Musk’s acquisition and subsequent decision to take the company private.

It’s worth noting that the valuations of Musk’s other ventures have experienced significant growth, particularly since his involvement in President Trump’s administration. For instance, Tesla’s shares have seen an increase of over 40% since the election, while SpaceX was valued at $350 billion in December. Additionally, Musk’s artificial intelligence startup, xAI, is also in discussions to raise $10 billion at a valuation of $75 billion.