While crypto investors and traders are racing to take advantage of the current rise in the price of bitcoin, Elon Musk is choosing a different tack. The billionaire who aims to colonize the moon has decided to invest massively in artificial intelligence. X AI, the company he created for this purpose, has just launched an extraordinary fundraising of $1 billion. Its goal ? Revolutionizing Artificial Intelligence. We are talking about it.
Elon Musk’s X AI gets investment to revolutionize AI
A few weeks after the launch of his Grok AI Chatbot which wants to challenge ChatGPT, Elon Musk wants to take the bull that is AI by the horns. “X AI”, this is the name of the company that the CEO of Tesla has just created. Passion for technology or appetite for performance?
In launching its artificial intelligence company X AI, Musk certainly plans to take advantage of the recent explosion of interest in AI-related investments. Indeed, since November 2022, the launch month of ChatGPT, interest in AI-related investments has experienced a meteoric rise.
The value of shares of certain companies like Nvidia and certain tokens like SingularityNET (AGIX) or Fetch.ai (FET) has practically multiplied by 10. It is clear that the billionaire who called for a six-month break on research linked to AI aims big.
Musk’s interest in AI: what consequences for cryptos?
For the moment, Elon Musk has not yet raised the entire billion dollars mentioned in the file he filed with the SEC. Its title sales currently stand at $134.7 million. The company plans to sell another $865.3 million worth of securities soon.
However, Elon Musk’s interest in AI raises questions about his future plans for cryptocurrencies. Why does the billionaire give the impression of not wanting to get involved in the next bull season that is already coming to the crypto market. When we know the havoc he has wreaked on the crypto markets in 2021, we wonder why he would want to stay away from the next crypto rally.
First, he bought X (formerly Twitter), then created X AI. The name of these companies is enough to indicate that the billionaire had already had his plan drawn up for a very long time. The coming months will shed more light on the subject.
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