When the XAI token’s value surged due to the news about Elon Musk’s AI startup, xAI, the billionaire made it clear that he had no connection with the cryptocurrency.
Yesterday, on November 3, Elon Musk shared that his new startup, xAI, is going to introduce its first artificial intelligence. He made the announcement on X, which was previously known as Twitter. Musk mentioned that the AI being released is among the best in certain crucial aspects.
Elon Musk Rejects Plans for Crypto Token
The news caused a big jump in the price of XAI Corp.’s crypto token, XAI, which increased by a whopping 175%. Many people mistakenly believed it was linked to Elon Musk’s xAI project. Currently, the XAI crypto token is trading at $0.003216, up by 164%, and its 24-hour trading volume has surged by 13300% to over $2.04 million.
A well-known crypto analyst named DogeDesigner cautioned regular investors not to get caught up in the excitement. Elon Musk also responded, making it clear that none of his companies would ever create a crypto token. However, there have been reports suggesting that Elon Musk might introduce a crypto wallet for X users.
To be super clear, none of my companies will ever create a crypto token
— Elon Musk (@elonmusk) November 4, 2023
Further Insights into Elon Musk’s xAI AI Startup
In July, Elon Musk shared his AI startup’s ambitious mission to uncover the fundamental truths of the universe. This could put it in competition with companies like OpenAI, Google, and Anthropic, which are known for creating advanced chatbots like ChatGPT, Bard, and Claude.
Musk’s venture reportedly acquired a significant number of powerful GPU processors from Nvidia, crucial for building complex language models like OpenAI’s ChatGPT and Google’s Bard.
In April, Musk also revealed plans for a unique AI tool called “TruthGPT” during a TV interview on Fox News Channel. He expressed concerns about the prevailing AI landscape focusing on politically correct systems.
As soon as it’s out of early beta, xAI’s Grok system will be available to all X Premium+ subscribers
— Elon Musk (@elonmusk) November 4, 2023
The startup, co-founded by Greg Yang, aims to delve into the mathematics of deep learning in AI and develop a theory of everything for large neural networks to advance AI. Interestingly, Elon Musk plans to use the X platform for early testing of xAI and its features.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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