Dogecoin: Biggest DOGE holder Elon Musk creates new AI company X.AI to conquer market – Will DOGE price react?
Elon Musk is establishing a new Artificial intelligence (AI) company known as X.AI.
He reportedly brought onto the team scientist Igor Babuschkin and two other former DeepMind colleagues in March to take charge of the new endeavor.
Elon Musk, the CEO of Twitter and the biggest DOGE holder, who has voiced his opposition to artificial intelligence, is establishing a new Artificial intelligence (AI) company known as X.AI Corp. The AI will be in direct competition with OpenAI. This is according to The Wall Street Journal report released on Friday.
According to a government filing from the previous month, the new firm is registered in Nevada. It includes Elon Musk as the company’s only director alongside Jared Birchall, one of Musk’s close associates, as its secretary. Artificial intelligence initiatives are nothing new for Musk. Before quitting the business almost ten years ago, he helped establish OpenAI.
After ChatGPT’s explosive growth in popularity, Musk, however, pushed for the oversight of the technology. Additionally, Musk was among those who signed the open letter released by the Future of Life Institute urging tech executives to halt Open AI advancements for six months.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
In a tweet that Musk wrote In February, he suggested a different course of action, tweeting: “What we need is TruthGPT.” According to the billionaire, ChatGPT is too “woke” and accused it of being “closed source, maximum-profit, fully governed by Microsoft Corporation. The multi-company entrepreneur has a reputation for having a specific fondness for the initial “X,” Just recently, he changed the name of his company, Twitter, to X Corp. Also, one of his children is known as X. Could this be a part of a plan for Elon Musk to create “an everything app” under the brand name X?
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
As of right now, it’s unclear what Musk has in mind for X.AI Corp. and whether he wants to create a genuine ChatGPT opponent. While information is still lacking, previous stories offer hints about how Musk’s artificial intelligence plans are developing. He reportedly brought onto the team scientist Igor Babuschkin and two other former DeepMind colleagues in March to take charge of the new endeavor. It’s also been claimed that Musk has tried to hire OpenAI staff for the new business.
Also, as reported by The Financial Times, he has already begun discussions with SpaceX and Tesla shareholders to raise money for his new business.
What is the future of DOGE?
As of the time of writing, DOGE is currently trading at $0.0817, with an increase of 3.73% in the last 24 hours. With the announcements of this news from Musk, we anticipate an increase in the coin. Recently, we have seen the coin increase due to Musk’s social media presence. For example, when he tweeted that his dog is the new CEO of Twitter, the coin shot up.
The current trade volume of DOGE in the last 24 hours is $369,727,866. Additionally, the coin is still currently ranked eighth on the coin market cap. The RSI line on the Dogecoin (DOGE) chart shows a neutral momentum, trending between bullish and bearish.
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Filed under: Bitcoin - @ April 26, 2023 2:24 pm