Elon Musk’s xAI Announcement Sparks Surge in AI Cryptocurrencies

• Elon Musk, CEO of Tesla, SpaceX, and Twitter, has unveiled his new artificial intelligence company, xAI.
• The team behind xAI will consist of experienced individuals who have previously worked in the field of artificial intelligence at renowned companies such as DeepMind, OpenAI, Google Research, Microsoft Research, Twitter, and Tesla.
• Musk’s recent advancements in developing a competitor to ChatGPT have led to significant increases in AI-themed tokens, with SingularityNET (AGIX) and Fetch.ai (FET) experiencing rises of 6% and 4% respectively.

Elon Musk Unveils New AI Venture, xAI

Renowned entrepreneur and CEO of Tesla, SpaceX, and Twitter, Elon Musk, has recently announced his latest venture, an artificial intelligence company named xAI. This announcement comes just a few months after Musk introduced TruthGPT, another AI tool. More details about xAI will be shared in an upcoming Twitter Spaces broadcast.

The Team Behind xAI

The xAI team is set to be comprised of seasoned professionals who have a wealth of experience in the field of artificial intelligence. These individuals have previously served in esteemed companies such as DeepMind, OpenAI, Google Research, Microsoft Research, Twitter, and Tesla, bringing a diverse range of expertise and knowledge to the table.

Impact on AI-Themed Tokens

Musk’s recent strides in developing a competitor to ChatGPT have had a significant impact on the market, particularly on AI-themed tokens. Following the announcement of xAI, AI-themed tokens such as SingularityNET (AGIX) and Fetch.ai (FET) experienced notable increases of 6% and 4% respectively. However, the rise in other tokens like BTO, GFT, and OCEAN was comparatively limited.

Musk’s Criticism of Microsoft and ChatGPT

It’s worth noting that Musk has previously expressed strong criticism towards Microsoft and its AI tool, ChatGPT. He has emphasized the importance of obtaining real knowledge and announced plans to launch the TruthGPT platform. In April, when he made this announcement, it was also rumored that he had entered into a significant agreement with chip manufacturer Nvidia and had purchased thousands of GPU processors.