Elon Musk's X Holdings is transitioning from a social media platform dependent on advertising to one focused on revenues from artificial intelligence and subscriptions. This pivot has resulted in a reported $91 million in revenue from data licensing and subscriptions—a 30% increase year-over-year. Although advertising revenue also saw modest growth of 4%, the shift reflects substantial changes in business strategy since Musk's acquisition. As costs decrease and investor sentiment improves, the company's prospects appear more favorable, especially following its merger with Musk's AI venture, xAI.
Elon Musk's X Holdings is shifting from ad reliance to generating revenue through AI and subscriptions, posting a notable 30% increase to $91 million in February.
The company's advertising revenue is growing more slowly at 4%, contrasting with the dramatic changes Musk has made since acquiring Twitter nearly three years ago.
Collection
[
|
...
]