News
OpenAI co-founder announces his new company, AI tokens rally
- Former OpenAI co-founder Ilya Sutskever announced Wednesday the launch of a new artificial intelligence research lab in the United States.
- News of the launch of Safe Superintelligence Inc. catalyzed gains in AI-related crypto tokens.
- The market capitalization of the AI category increased by 12% in the last 24 hours.
Artificial intelligence (AI) crypto token prices rise on Thursday following news that OpenAI’s co-founder has started his own company. Ilya Sutskever, former chief scientist at OpenAI, announced the launch of a security-focused AI research lab in Palo Alto and Tel Aviv, US.
The news comes amid concerns regarding the security aspect of Artificial General Intelligence (AGI), under development at OpenAI.
According to data from CoinGecko, the market capitalization of AI tokens increased by 12% in the last 24 hours.
AI Tokens See Huge Price Gains
AI tokens such as Near Protocol (NEAR), Fetch.ai (FET), Internet Computer (ICP), Render (RNDR), Bittensor (TAO), The Graph (GRT), SingularityNET (AGIX) and Akash Network (AKT) extended gains in recent 24 hours, according to CoinGecko data.
AI tokens
The rally can largely be attributed to the announcement of the new company, Safe Superintelligence Inc. The team consists of former co-founder Ilya Sutskever, American entrepreneur Daniel Gross and Daniel Levy, a research assistant at the laboratory of computer scientist Stephano Ermon . Sutsekever served as chief AI scientist at OpenAI and focused on the “safety” aspect when developing AGI.
Superintelligence is at your fingertips.
Building secure superintelligence (SSI) is the most important technical problem of our time.
We started the world’s first direct SSI laboratory, with one goal and one product: safe superintelligence.
It’s called Safe Superintelligence…
— SSI Inc. (@ssi) June 19, 2024
The announcement of the fundraising for Artificial intelligence projects from hedge funds and Venture Capital is another catalyst that will likely fuel gains in this token category. Pantera Capital announced on June 19 its decision to invest $200 million in artificial intelligence ventures, according to a report by DLNews.
Major crypto funds are raising $1 billion, of which AI will receive a 15 to 20% investment. This development is another market driver, which is likely to influence investor sentiment towards AI tokens.