That resulted in a rise in the platform’s ad revenue in the first quarter of 2025, and potentially a sign of things to come. For context, in 2022, the final year before Elon took over at the app, Twitter generated $4.4 billion in revenue, predominantly through advertising. In 2023, Musk’s first year at the company, that declined to around $3.4 billion, which then dropped to $2.6 billion in total net revenue last year. So X’s revenue intake is steadily declining, though for 2025, the platform is still on track to reach around $2.9 billion in total revenue, with its expanded subscription and promotion packages contributing to that slightly higher mark. But if xAI doesn’t meet its sales projections, and X’s ad sales don’t ramp up, the whole project could be in a difficult spot.