Investing.com -- Amazon.com Inc (NASDAQ: AMZN) is increasing its spending on social media platform X, marking a major U-turn from the e-commerce after scaling back on advertising on the Elon's Musk-owned platform more than a year ago amid concerns about growing hate speech on the platform, the Wall Street Journal reported Thursday, citing unnamed sources.

The news comes as other companies have also been mulling whether to return to X at a time when Musk has President Donald Trump's ear after playing a key role on election campaign trail.

Apple (NASDAQ: AAPL) in recent weeks weeks has had discussions about testing out ads on the platform, a person familiar with the situation told the Journal.

Amazon was down 1% in recent trading.