After Musk introduced a new Artificial Intelligence (AI) firm called “xAI” to compete with ChatGPT, tokens like AGIX and FET experienced a slight uptick.
Artificial intelligence (AI)-related cryptocurrency tokens saw a gain of more than 3% on Wednesday when Elon Musk, the CEO of Tesla and SpaceX, introduced xAI, a new AI firm that would compete with ChatGPT, a well-known chatbot.
Following the launch of the new firm with a mission to “understand the true nature of the universe,” tokens like SingularityNET (AGIX) and Fetch.ai (FET) increased by more than 6% and roughly 3%, respectively.
According to the company website, the team will be managed by Musk and will include of individuals who have previously worked for DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.
Although the newly established business would be distinct from Musk’s X Corp., xAI stated that it will collaborate closely with Musk’s other businesses. On July 14th, xAI will conduct a Twitter Spaces talk.
As a potential replacement for ChatGPT, Elon Musk has previously stated that he intends to develop TruthGPT, which will be a “maximum truth-seeking AI that tries to understand the nature of the universe,” according to an interview with Fox News.
