Elon Musk Speaks About xAI: None of My Companies Will Create Crypto Tokens

On Friday, November 3, Elon Musk announced that his new venture xAI will launch artificial intelligence. “Tomorrow, xAI will release its first AI to a select group,” Musk said on X.

Elon Musk Rejects Crypto Token Plans

However, this development, Corp. aka XAI led to a strong rise in the price of the crypto token, a staggering 175% increase as many mistook it for having some sort of connection to Elon Musk's xAI initiative. At the time of writing, the crypto token is trading at $0.003216, up 164%, and its 24-hour trading volume is up 13300% to over $2.04 million. Popular crypto analyst DogeDesigner drew attention to this development, warning retail players not to get caught up in this craze. The famous name quickly responded to this:

“To be very clear, none of my companies will ever create a crypto token

By announcing the launch of xAI artificial intelligence, it is clear that Elon Musk has entered a head-on AI battle with Open AI and Google. In July, Elon Musk announced his AI startup's ambitious goal to "uncover the fundamental truths of the universe," potentially positioning it as a rival to firms like , , and Anthropic, creators of leading chatbots like , Bard, and Claude.

There is information that Musk's startup purchased from Nvidia this spring a significant number of high-performance GPU processors needed to build comprehensive language models such as OpenAI's ChatGPT and Google's Bard. Musk also expressed concerns about the current AI landscape focused on “politically correct” systems, announcing plans for a new AI tool called “TruthGPT” during an interview on Fox News Channel in April. The startup, co-founded by Greg Yang, aims to explore the "mathematics of deep learning" in the field of artificial intelligence and take artificial intelligence to new dimensions by developing the "theory of everything" for large neural networks.

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