Wall Street banks, finally within striking distance of offloading debt tied to X, have a sweetener on offer for potential buyers: a claim on the social-media platform’s stake in Elon Musk’s artificial intelligence venture.

Wall Street banks, including Morgan Stanley (NYSE:MS), Bank of America, and Barclays (LON:BARC), are gearing up to sell a substantial portion of debt holdings in X, the social-media platform controlled by Elon Musk,

Banks are preparing to sell off debt used to help Elon Musk purchase X as the tech tycoon tells employees the company is “barely breaking even.” According to reporting from The Wall Street Journal, bankers at Morgan Stanley are planning to offload roughly $3bn in debt during a sale next week and are already contacting investors.

The billionaire and his Silicon Valley associates landed in the capital and immediately moved to cut the size of the federal government, reprising the playbook he used after buying Twitter in 2022.

Wall Street banks are hoping this is the week when they can start to recover more from the bad bets they made on Elon Musk’s 2022 Twitter buyout.

Michael Grimes, a top banker at Morgan Stanley, would become the latest leading tech figure to join the Trump administration, as a senior official at the Commerce Department.

Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 billion in 2022, including $13 billion in

Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two sources with knowledge of the matter said Friday. Morgan Stanley bankers have reached out to investors ahead of a planned sale next week, the people added.

Wall Street banks are preparing to sell up to $3 billion in debt linked to X, Elon Musk's social media platform. Morgan Stanley has contacted investor

Pacific Investment Management Co. is among asset managers looking at buying a portion of $3 billion of debt tied to Elon Musk’s buyout of X, according to people with knowledge of the matter.

The EV giant missed Q4 earnings and sales views late Wednesday. But Tesla stock rose as robotaxi hopes. Elon Musk is on the earnings call.

With annual deliveries dropping for the first time last year, pressure has been mounting for the EV maker to unveil lower-priced models along with autonomous vehicles and software, that CEO Elon Musk said would boost future earnings.