Elon Musk disavowed any affiliation with cryptocurrency as the XAI token surged in value following reports of his AI venture, xAI.
Elon Musk declared on Friday, November 3, that his new company, xAI, will introduce artificial intelligence. Musk announced on X, formerly Twitter.
“Tomorrow, xAI will release its first AI to a select group,” Musk posted on X, formerly known as Twitter. “In some important respects, it is the best that currently exists.”
Elon Musk Refuses to Confirm Crypto Token Plans
Nonetheless, the news sparked a meteoric rise in the value of XAI Corp. aka XAI crypto token, which increased by an astounding 175 percent as most individuals mistook it for a connection to Elon Musk’s xAI venture.
The XAI crypto token is trading 164% higher at $0.003216 at the time of writing, with a 24-hour trading volume of over $2.04 million, an increase of 13300%.
DogeDesigner, a renowned cryptocurrency analyst, highlighted this development and warned retail participants not to become entangled in this frenzy. Elon Musk responded unequivocally, “None of my companies will ever create a crypto token”.” Nevertheless, rumors have circulated that Elon Musk may introduce a cryptocurrency wallet for X users.
To be super clear, none of my companies will ever create a crypto token
— Elon Musk (@elonmusk) November 4, 2023More Concerning xAI, Elon Musk’s AI Startup
With the introduction of xAI artificial intelligence, Elon Musk has entered an AI arms race with Google and Open AI. Elon Musk unveiled the audacious objective of his artificial intelligence startup, Anthropic, in July: to “uncover the fundamental truths of the universe,” .
This may position the startup as a competitor to OpenAI, Google, and Anthropic, the progenitors of prominent chatbots, including ChatGPT, Bard, and Claude.
This spring, Elon Musk’s venture reportedly procured a significant quantity of high-performance GPU processors from Nvidia. These processors are crucial in developing sophisticated language models such as OpenAI’s ChatGPT and Google’s Bard.
Elon Musk also disclosed his intentions for an innovative artificial intelligence (AI) instrument called “TruthGPT” in April via a televised interview with Fox News Channel. During the interview, Musk voiced apprehensions regarding the current AI environment’s emphasis on “politically correct” systems.
Greg Yang co-founded the company, which seeks to advance artificial intelligence by developing the “theory of everything” for large neural networks and investigating the “mathematics of deep learning” within AI. Notably, Elon Musk intends to utilize the X platform to conduct preliminary evaluations of xAI and its functionalities.
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