IBM on Thursday said it had pulled all advertising on Elon Musk-owned X for now, after a report found its ads were placed next to content promoting nazis.

The report comes a day after Musk endorsed an antisemitic post on the social media platform that falsely claimed members of the Jewish community were stoking hatred against white people.

The left-leaning media watchdog Media Matters said it found that corporate advertisements by IBM, Apple, Oracle and Comcast's Xfinity were being placed alongside antisemitic content.

In a statement, IBM said it 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 did not immediately respond to requests for comment.

X said its system does not intentionally place brands "actively next to this kind of content," and that the posts cited by Media Matters would no longer be able to make money off its content.

The company declined to comment on Musk's Wednesday remarks, and referred to a statement from CEO Linda Yaccarino posted Thursday, saying:

"...X has also been extremely clear about our efforts to combat antisemitism and discrimination. There's no place for it anywhere in the world."

Advertisers have fled the site formerly known as Twitter since Musk bought it, with civil rights groups saying the reduced content moderation has resulted in a boom in hate speech.

Reuters, citing third-party data, reported in October that monthly U.S. ad revenue at X has declined at least 55% year-over-year each month since Musk took over in October 2022.