Elon Musk, the renowned investor who owns the X company amongst many other businesses has clarified that none of these businesses will ever launch a crypto token. He made this revelation to establish his position about the XAI token which has recently been making rounds.
Aside from the rebranded Twitter company which he acquired last year in a $44 billion bid, Musk also manages SpaceX, Tesla, Neuralink, and The Boring Company. More recently, is the introduction of the xAI company, which according to the innovative tech billionaire is an institution that will focus on conducting research in the field of Artificial Intelligence (AI).
Elon Musk Britain PM’s AI Safety Summit
Little wonder Musk was one of those who attended the first-ever two-day AI Safety Summit where it was stated that like-minded governments and AI companies have reached a landmark agreement that requires all AI firms to submit their models for testing before they go live. The summit was hosted by Britain Prime Minister Rishi Sunak.
Musk has announced that the first AI model from xAI is going live today. Per his November 3rd tweet, “Tomorrow, xAI will release its first AI to a select group,” adding that “In some important respects, it is the best that currently exists.”
Musk is Not Linked to xAI Token
The news triggered an enormous surge in the price of the meme coin xAI Corp (XAI). Markedly, the price of the token rallied by almost 175%, indicating that most crypto enthusiasts had confused the coin to be linked with Musk and his xAI startup. At press time, xAI is trading at $0.000000002403 after recording almost 50% increase in the last 24 hours.
However, one X app user identified as Doge Designer was quick to inform the public that the Tesla boss has no affiliation with the token. Musk reiterated Doge Designer’s tweet by saying that none of his companies will ever create a crypto token.
X to Become Central Financial Hub
Noteworthy, the statement made by Musk does not nullify all of the lofty plans which the billionaire has for his companies in terms of crypto. Musk still had the mission of transforming the X app into a central financial hub.