Elon Musk’s startup xAI introduces its first AI, causing a surge in XAI crypto token’s price. Musk denies creating a crypto token while challenging AI giants.
Elon Musk made headlines on November 3 by unveiling xAI’s first artificial intelligence product. Musk, who announced this development on his platform X, formerly known as Twitter, expressed that xAI’s AI is among the best currently available.
XAI Crypto Token’s Remarkable Surge
Interestingly, the news about xAI’s AI launch led to a significant upswing in the price of XAI Corp.’s crypto token. The token price skyrocketed by an impressive 175%. Many mistakenly associated it with Elon Musk’s xAI project, causing confusion in the market. As of now, the XAI crypto token is trading at $0.003216, marking a 164% increase, and its 24-hour trading volume has surged by a remarkable 13300% to over $2.04 million.
Elon Musk’s Clarification on Crypto Tokens
In response to the confusion in the market, Elon Musk clarified that none of his companies would create a crypto token. He made this declaration on November 4 through a tweet, emphasizing his commitment to not venture into the crypto token space.
Elon Musk’s xAI: Challenging AI Giants
Elon Musk’s xAI is not just making waves in the crypto market. It signifies Musk’s entry into the AI arena, where he is poised to compete with industry giants like OpenAI and Google. Musk’s venture has set ambitious goals, aiming to uncover the fundamental truths of the universe, potentially positioning itself as a significant player in the field of AI. Musk’s project has also secured high-performance GPU processors from Nvidia, a crucial asset for building advanced language models like OpenAI’s ChatGPT and Google’s Bard.
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
Musk’s vision for a novel AI tool called “TruthGPT” and his emphasis on avoiding “politically correct” AI systems demonstrate his unique approach to artificial intelligence. The startup, co-founded by Greg Yang, is set to delve into the mathematics of deep learning and develop a “theory of everything” for large neural networks, pushing AI to new heights. Notably, Musk plans to utilize the X platform for early testing of xAI and its features.