These companies, which previously distanced themselves from the X platform over concerns about content moderation, are now cautiously resuming their ad campaigns.

The Guardian newspaper declared its exit from X, citing concerns over Musk’s influence during the US election; in a statement, The Guardian described X as a "toxic" platform.

Apart from the drastic slip in valuation, a report from analytics company Kantar revealed that 26% of marketing firms plan to reduce their advertising spending on X next year.

Miffed by California State Administration's transgender student policy, Elon Musk is relocating the headquarters of his SpaceX and X(Twitter) companies from San Francisco to Austin, Texas.