⇗ Elon Musk's XAI Coin: A Colossal Prospect amidst Controversy
Elon Musk's XAI venture has been under close scrutiny. The project, regarded as a giant in the AI sphere, has seen its crypto version, XAI Coin...
Elon Musk's xAI venture looks to be a major player in the cryptocurrency market. The company has successfully undergone a private pre-sale event, boasted a staggering $24 billion valuation, and has raised $6 billion in funding. July saw $350 million worth of xAI token unlocks alongside that of other popular cryptos such as Worldcoin, Arbitrum, and Aptos. Many people believe that by 2024, xAI will overtake OpenAI. Musk's company also looks to foray into the gaming space, having teamed up with Peeking Duck Studios for a Web3 game.
Musk cannot use Tesla revenue to bolster xAI and has denied rumors of Tesla paying xAI for AI technology. However, he is mulling a $5 million investment into the company through Tesla, pending community feedback. The potential investment is being considered even as Tesla maintains its Bitcoin reserves. Big names like Cathie Wood's ARK Invest have also invested, injecting $60M into Musk's venture.
xAI has seen its token price soar due to project milestones and great publicity. Despite backlash from Tesla investors over allegations of diverting resources and talent to xAI, time will tell if this new venture will materialize into something truly colossal.
XAI Coin News Analytics from Fri, 21 May 2021 12:26:48 GMT to Sat, 26 Oct 2024 07:00:00 GMT -
