Elon Musk Officially Launched ChatGPT’s Competitor “xAI” – Boosting AI-related Cryptocurrencies

Elon Musk, the bigman of Tesla, SpaceX, and Twitter has recently launched a new novel company called “xAI”, an artificial intelligence company that was once part of OpenAI’s research to show “the true nature of the universe.”

xAI will be working along with Musk’s owned companies to make progress toward its mission. The firm is currently recruiting experienced researchers and engineers who have previously worked at DeepMind, OpenAI, Microsoft Research, Google Research, Tesla, and the University of Toronto in the San Francisco Bay area to join its technical staff.

There were rumors early this year that Musk has purchased thousands of GPU processors to support an upcoming generative AI product. In April, according to a report, Musk started to develop a ChatGPT rival called “TruthGPT”, a large language model to explore the “mysteries of the Universe”. In addition, TruthGPT is also designed to push back against “left-wing” bias in the industry which is about ChatGPT that is programmed by left-wing experts and trained the chatbots to lie.

Elon Musk’s new venture will reveal more about its AI-based plans during a Twitter Spaces event on Friday. And while further details about xAI are set to be revealed, the initiative continues to represent Musk’s escalating vision to revolutionize the AI industry and give signals to his competitors.

Meanwhile, AI-powered crypto coins pumped as Elon Musk announced the launch of xAI on Wednesday. Tokens such as SingularityNET (AGIX), Fetch.ai (FET), and Render Network (RNDR) spiked to around 3-6%. However, AI coins remain to be highly volatile this year so investors still should keep an eye.