Elon Musk Responds to Cryptocurrency Claims: Is He Planning to Release It?

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Elon Muskannounced on Friday, November 3 that it will launch its new startup xAI’s artificial intelligence solution. Musk officially shared on X, formerly known as Twitter, “Tomorrow, xAI will present its first artificial intelligence to a select group” and fueled the excitement.

However, this development comes from XAI Corp., which many people think has some sort of connection to Elon Musk’s xAI initiative. aka XAI led to a staggering 175% increase in the price of the crypto token. As of press time, the XAI crypto token is trading at $0.003216, up 164%, and its 24-hour trading volume is up 13,300% to over $2.04 million.

Crypto analyst DogeDesigner pointed out this development and warned not to get caught up in this frenzy. Elon Musk was also quick to respond to this: “To be very clear, none of my companies will ever own a crypto token.” will not create“. However, news that Elon Musk may introduce a crypto wallet for X users has started to appear on the agenda again.

It is clear that Elon Musk has entered an AI war with Open AI and Google by announcing the xAI AI initiative.

In July, Elon Musk announced his AI startup’s ambitious goal to “uncover fundamental truths of the universe,” potentially positioning it as a rival to firms like OpenAI, Google, and Anthropic, creators of leading chatbots like ChatGPT, Bard, and Claude.

As we reported as Koinfinans.com, news that Musk’s startup purchased many GPUs from Nvidia this spring appeared in the press. Musk also revealed plans for a new AI tool called “TruthGPT” during an interview on Fox News Channel in April, expressing concerns about the current AI landscape focused on “politically correct” systems.

Founded by Greg Yang, the startup aims to explore the “mathematics of deep learning” in the field of artificial intelligence and take artificial intelligence to new heights by developing a “theory of everything” for large neural networks. Interestingly, Elon Musk plans to leverage the X platform for early testing of xAI and its features.


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