Although technology giant Elon Musk is known for his support for Dogecoin, his latest move caused a completely different fluctuation in the altcoin market. xAI, the company founded by Musk, attracted the attention of investors by making its artificial intelligence language model Grok open source. Following this development, altcoins named GROK and XAI experienced instant and large increases. So, what does Elon Musk’s Grok move mean? What impact will this development have on the altcoin market?
Elon Musk made a statement about Grok
Elon Musk, the billionaire entrepreneur known for his support of Dogecoin, caused fluctuations in the altcoin market by making xAI company’s artificial intelligence language model Grok open source. Following Musk’s post on March 11, GROK and XAI altcoins rose. Grok is a text-based language model and attracted the attention of investors after Elon Musk shared it. With Musk’s influence, the price of GROK increased by 65% in a short time, reaching $ 0.0165 from $ 0.010.
Musk’s move reflects his belief that AI developments should be open source. In recent months, Musk, who criticized ChatGPT developed by OpenAI for not being open source, filed a lawsuit against the company. However, it is important to note that GROK has no affiliation with Elon Musk’s xAI company. This altcoin is similar only to the name Grok. In the past, it was affected by Elon Musk’s posts and was subject to serious price movements.
Investors need to pay attention
Experts state that investors should be careful against such sudden price fluctuations. He also emphasizes that they should do detailed research before investing. Elon Musk’s Grok move created excitement in the altcoin market. Time will tell how this development will affect the market in the long term.
As a result, Elon Musk’s xAI company will make Grok’s source code publicly available this week. Musk criticized OpenAI’s ChatGPT for not being open source and sued the company. Grok is just a text-based language model and has no affiliation with Elon Musk’s xAI company. Investors should be careful about such sudden price fluctuations and do detailed research before investing.
Elon Musk’s support for Dogecoin significantly affects the price of this cryptocurrency. Recently, especially artificial intelligence has become an important trend for the cryptocurrency market. But, cryptokoin.com As we always state, it is important for investors to invest by fully understanding the risks and investment instruments.
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