Golden Finance reported that Fidelity increased the stock valuation of X Holdings by 32.37% in October, which was the company’s largest monthly adjustment since supporting Elon Musk’s acquisition in 2022. However, this valuation is still nearly 72% lower than Musk’s original acquisition price of $44 billion. xAI is also connected to X Holdings through equity shares. Fidelity participated in xAI’s $6 billion Series B funding round. It increased the value of those shares by about 70% in October, likely affecting its approach to valuing X Holdings.