The value of Crypto tokens linked to Artificial Intelligence (AI) experienced a boost following the announcement of a new AI company called xAI, which is headed by Elon Musk, the CEO of Tesla and SpaceX. SingularityNET (an AI linked crypto currency marketplace) and Fetch.ai (a platform for AI linked “smart agents”) both saw increases of approximately 5% and 3% respectively.
The team leading xAI comprises individuals who have previously worked at DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto. Despite being a separate entity from Musk’s X Corp., xAI highlights its intention to collaborate closely with his other ventures.
On Friday, July 14th, xAI engaged in a Twitter Spaces chat, providing a platform for discussion. Musk had earlier expressed his desire to develop a TruthGPT as an alternative (that is, rival) to ChatGPT. This revelation was made during an interview with Fox News, where Musk described TruthGPT as a “maximum truth-seeking AI.” It is unclear if the financial link between xAI (with its initial goal of understanding the true essence of the universe), and both SingularityNET and Fetch.ai is temporary or if it denotes some deeper connection.
The emergence of xAI spearheaded by Elon Musk might have breathed new life into the business of AI-linked crypto tokens. With the ever-growing interest in AI and the robust outlook for its commercial viability, the future of these crypto tokens is now perhaps a little brighter than it was a few days ago.
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