On Wednesday, crypto tokens associated with Artificial Intelligence surged over 3% in response to the launch of xAI, a new AI firm founded by Tesla and SpaceX CEO Elon Musk. This was seen as an alternative to the widely-used chatbot ChatGPT.
Following the introduction of a new business with a mission to “grasp the true essence of the universe,” AGIX and FET saw a rise of 6% and 3%, respectively. The company website states that a team headed by Elon Musk is being assembled, with members drawn from DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.
xAI will be a distinct business from Musk’s X Corp., yet the two will collaborate closely. The startup has announced that they will be hosting a Twitter Spaces chat on Friday the 14th of July.
In an interview with Fox News, Elon Musk mentioned that he is working on an AI called TruthGPT that would be a substitute for ChatGPT. He further explained that it would be an AI that is set to discover the truth and to understand the universe.
Earlier this year, the crypto tokens related to Artificial Intelligence experienced a surge in popularity because of its growing acceptance in the public sphere. This was further boosted by Nvidia’s (NVDA) statement which was enthusiastic about their AI sales.
The post-Nvidia earnings hype is beginning to diminish as AI crypto tokens become less popular.
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