HomeNewsDogecoin Whale Elon Musk Launches AI Company X.AI – Will it Drive...

Dogecoin Whale Elon Musk Launches AI Company X.AI – Will it Drive DOGE Price to The Moon?

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  • Elon Musk founds X.AI, an artificial intelligence corporation in Nevada.
  • This move comes despite Musk’s recent call for a pause in AI development due to potential risks.

X.AI Corporation: A New AI Venture

Elon Musk has founded an X.AI artificial intelligence corporation based in Nevada, according to business documents that emerged on Friday. Musk, already at the helm of Twitter and Tesla, was listed as the director of X.AI Corporation, which was established on March 9th. This move comes despite Musk recently advocating for a general pause in the development of artificial intelligence.

Merging Twitter and the “X” Company

Musk has recently merged Twitter with a newly created “X” shell company, retaining the brand name for the platform but not the business. His founding of what appears to be a rival to ChatGPT-maker OpenAI comes even after he called for an overall halt in AI development.

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As part of an AI project at Twitter, Musk has reportedly purchased thousands of powerful, expensive computing processors and recruited engineering talent. Concurrently, he has reduced staff at Twitter as part of significant cost-cutting measures following his $44 billion acquisition of the San Francisco firm last year.

Open Letter Urges AI Development Pause

The formation of X.AI took place several weeks before Musk and other experts signed an open letter advocating for a hiatus in AI development. The letter, published on the Musk-funded Future of Life Institute’s website, called for a six-month pause in the development of powerful AI systems.

The signatories, including prominent academics and tech giants like Apple co-founder Steve Wozniak, argued that this pause should be used to strengthen regulation and ensure the safety of these systems.

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Elon Musk: Dogecoin’s Biggest Holder?

There is strong evidence suggesting that Elon Musk may be the largest Dogecoin holder. The billionaire entrepreneur has been a vocal supporter of the meme-based cryptocurrency, often sharing his enthusiasm on social media and driving significant price movements. While it is difficult to confirm Musk’s exact holdings, his influence on the cryptocurrency market is undeniable.

Musk’s tweets and public statements have had a considerable impact on Dogecoin’s value, leading many to speculate about his holdings.

Though he has not confirmed or denied his position as the top Dogecoin holder, the evidence supporting this claim is growing stronger. If true, it highlights Musk’s continued interest and involvement in the cryptocurrency space, further solidifying his status as a key player in the world of digital assets.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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