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The new bond promotion materials show that Musk's X has evolved from a social media platform into a platform that bets on AI and subscription revenue.
Elon Musk's X Holdings is evolving from a Social Media platform supported by mainstream advertisers into one that bets on AI and subscription revenue, a change that seems to have boosted its recent income. According to materials shared with new debt investors, this platform, formerly known as Twitter, generated $91 million in February from data licensing and subscriptions, a 32% year-on-year increase. Data shows that advertising revenue has also increased, but at a more moderate growth rate of 4%. A representative from X declined to comment. This is in stark contrast to nearly three years ago when Musk acquired X. The platform used to be a
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