IBM (NYSE: IBM) has swiftly halted all advertising on Elon Musk-owned X following a report revealing that its ads were appearing alongside content promoting Adolf Hitler and the Nazi Party.
The suspension comes in the wake of a controversial endorsement by Musk of an antisemitic post on X. The comment falsely accused members of the Jewish community of inciting hatred against white people.
Media watchdog Media Matters disclosed that corporate advertisements from IBM, Apple, Oracle, and Comcast’s Xfinity were being displayed alongside antisemitic content.
IBM responded, stating, “IBM has zero tolerance for hate speech and discrimination, and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation.” Apple, Oracle, and Xfinity have yet to comment on the matter.
X defended its advertising system, asserting that it does not intentionally place brands next to such content. The platform stated that the cited content by Media Matters would no longer be able to monetize its posts.
The platform declined to comment on Musk’s endorsement of the antisemitic post. X CEO Linda Yaccarino reportedly sent a message to employees on Thursday morning emphasizing that “X is a platform for everyone” and that “discrimination by everyone should STOP across the board.” She posted a similar message later in the day.
Advertisers have been fleeing X since Musk’s acquisition, attributing the exodus to reduced content moderation, resulting in a surge in hate speech. Monthly US ad revenue at X has reportedly declined over 55% year-over-year each month since Musk’s takeover in October 2022, according to third-party data.
Information for this story was found via the Financial Times, Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.