Elon Musk's New ChatGPT Competitor Boosts AI-Related Crypto Tokens
Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
Crypto tokens that are related to Artificial intelligence (AI) rose more than 3% on Wednesday, after Tesla and SpaceX CEO Elon Musk unveiled a new AI company called xAI, as an alternative to popular chatbot ChatGPT.
Tokens such as SingularityNET (AGIX) rose more than 6% while (FET) climbed about 3% after the announcement of the with a goal to "understand the true nature of the universe." The team will be led by Musk and includes members that have previously worked at DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, according to the company website.
The newly formed company will be a separate entity from Musk's X Corp. but xAI said it will work closely with his other companies. xAI will host on Friday, July 14th.
Elon Musk previously have said that he is looking to create as an alternative to ChatGPT and will be "maximum truth-seeking AI that tries to understand the nature of the universe," according to an interview with Fox News.
The AI-related crypto tokens have gotten a short-lived boost earlier this year by due to the technology's increasingly mainstream appeal and after chipmaker Nvidia (NVDA) revealed its for AI sales.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hyperliquid (HYPE) Price Soars: DeFi Infrastructure Innovation Accelerates
- Hyperliquid (HYPE) dominates decentralized perpetual trading with 70–80% market share via sub-second block times and $5B+ TVL growth in 2025. - Institutional adoption accelerates through SEC compliance, BlackRock-backed USDH stablecoin, and $1B digital asset treasury partnerships. - Price targets of $38–$50 face risks from $314M token unlock and governance controversies over centralized control perceptions. - HYPE's $3T+ trading volume and $15B open interest highlight its role bridging DeFi's speed with
The HYPE Token's Rapid Surge: What's Fueling It, and Is It Worth Jumping In?
- Hyperliquid's HYPE token surged in 2025 due to technical innovation, institutional backing, and retail FOMO-driven speculation. - On-chain movements like $90M staking-to-spot transfers and a $314M token unlock on Nov 29, 2025, highlight liquidity risks and volatility concerns. - Market psychology amplifies HYPE's momentum through viral campaigns, fee cuts, and social media echo chambers, mirroring broader 2025 crypto trends. - Analysts debate HYPE's sustainability: while institutional partnerships and BL
Navigating the Hyperliquid Boom: Key Factors Behind Demand and Essential Insights for Investors
- Hyperliquid (HYPE) surges as decentralized derivatives gain traction, driven by high-speed blockchain and fee cuts via HIP-3 upgrade. - Platform's $1B+ daily volumes and equity perpetuals (e.g., TSLA-USDC) attract retail/institutional investors despite 100x leverage risks. - $10.8B token unlock over two years and regulatory uncertainty pose challenges, while liquidity incentives create strategic entry opportunities. - Retail demand spikes via referral programs, but high-leverage losses (e.g., $727K liqui
Bitcoin and Ethereum ETFs Post $789 Million in Net Inflows on Friday as Institutional Demand Returns
Trending news
MoreCrypto prices
More
