2023-11-17 03:29:26 ET
IBM ( NYSE: IBM ) has suspended advertising on Elon Musk's X, formerly known as Twitter, after a media report said the social media platform ran the tech giant's ads next to pro-Nazi material.
Non-profit website Media Matters said it found ads from major brands such as IBM ( IBM ), Apple ( AAPL ), Oracle ( ORCL ), Comcast's ( CMCSA ) Xfinity and NBCUniversal's Bravo next to content "that touts Adolf Hitler and his Nazi Party."
"IBM ( IBM ) has zero tolerance for hate speech and discrimination, and we immediately suspended all advertising on X while we investigate this entirely unacceptable situation," said a company spokesperson.
X said the placement of the ads was not intentional and the content cited by Media Matters would no longer earn money off its posts. Its CEO Linda Yaccarino said the platform has been "extremely clear about our efforts to combat antisemitism and discrimination."
X's advertising business, a major revenue contributor, has been struggling to retain advertiser trust . Many brands pulled out of X amid concerns over content moderation easing after Musk took over. Musk blamed the slowdown in X's ad revenue on the Anti-Defamation League, an advocacy group that combats antisemitism, pressuring advertisers.
IBM's move follows Musk agreeing with a conspiracy theory that claimed Jewish communities were "pushing dialectical hatred against whites." He also blamed the ADL for anti-white rhetoric.
"At a time when antisemitism is exploding in America and surging around the world, it is dangerous to use one's influence to validate and promote antisemitic theories," said ADL CEO Jonathan Greenblatt.
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IBM halts advertising on X as report finds ads placed next to pro-Nazi content