Elon Musk endorsed an anti-Semitic post on X that claimed «members of the Jewish community were stoking hatred against white people.»
While news website Axios reported that Apple is pausing its advertisements, Bloomberg reported Lionsgate's move.
These brands have voiced their concerns regarding their advertisements being placed alongside content that is far-right and anti-Semitic in nature.
«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,» the firm had said in a statement.
The White House, too, on Friday accused Elon Musk of repeating a «hideous» anti-Semitic lie on X.
«It is unacceptable to repeat the hideous lie behind the most fatal act of anti-Semitism in American history at any time, let alone one month after the deadliest day for the Jewish people since the Holocaust,» White House spokesman Andrew Bates said on Friday, in response to a Musk post, according to a report from Reuters.
(With inputs from agencies)