Elon Musk Reveals xAI ownership distribution – Crypto News – Crypto News
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Elon Musk Might Oversee a New X Revamp Soon Elon Musk Might Oversee a New X Revamp Soon

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Elon Musk Reveals xAI ownership distribution – Crypto News

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Elon Musk, the renowned CEO of American electric vehicle maker, Tesla Inc recently sent shockwaves through the tech community with a post announcing that investors in X Corp (formerly Twitter) would possess a significant 25% stake in xAI, his latest venture into the realm of Artificial Intelligence. 

This disclosure has triggered a wave of speculation and interest as the tech community eagerly awaits further details about the ambitious project.

Elon Musk Ties xAI and X Fortunes Together

Elon Musk’s announcement has significant implications for X Corp investors, as it directly ties their financial interests to the success and growth of xAI. With a 25% ownership stake, these investors stand to gain or lose alongside the fortunes of xAI. The move to involve X Corp investors aligns with Musk’s penchant for integrating his ventures and creating synergy within his business ecosystem.

Founded in April, xAI Corp is directed solely by Elon Musk, with Jared Birchall, the director of Musk’s family office, serving as the company’s secretary. The company derives its name from Musk’s past attempt to create an “everything app” called X. Recently, Musk rebranded his Twitter account to X Corp, reflecting a broader initiative that includes a parent company named X Holdings Corp.

To spearhead this endeavor, Musk recruited DeepMind scientist Igor Babuschkin, previously associated with Alphabet Inc. Elon Musk has also made efforts to attract talent from OpenAI, though success in this regard has been limited.

Grok AI and xAI Integration

In a recent, Elon Musk announced the integration of xAI into his social media platform X, following the launch of Grok AI, a chatbot positioned as a competitor to the likes of ChatGPT and Bard. 

Grok, powered by xAI, boasts a unique sense of humor and the ability to provide real-time data, setting it apart from existing AI chatbots. Elon Musk envisions Grok as a “maximum truth-seeking AI” that surpasses the capabilities of current models.

An intriguing aspect of Musk’s strategy involves leveraging the X platform for early testing of xAI and its features. This move underscores Musk’s commitment to pushing the boundaries of AI capabilities within a real-world context, potentially positioning X Corp as a hub for innovation and experimentation in the AI domain.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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