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OpenAI Trillion Dollar Move May Send AI Crypto Coins ‘Parabolic’

2 mins
Updated by Kyle Baird
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In Brief

  • A recent report highlights OpenAI CEO Sam Altman's negotiations with the UAE for $5-7 trillion funding.
  • The goal to get more funds is in an effort to aid OpenAI in tackling its ongoing growth challenges.
  • This effort seeks to alleviate constraints like the scarcity of expensive artificial intelligence chips.
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Artificial intelligence (AI) intelligence platform Token Metrics has highlighted OpenAI CEO Sam Altman’s pursuit of trillions of dollars for a new AI chip project as a potentially significant opportunity for AI crypto tokens.

The intelligence platform declared that if Altman is successful, there is a potential to see AI crypto coins go “parabolic.”

OpenAI’s Actions Could Drive Significant Growth for AI Crypto Tokens

A recent report from The Wall Street Journal states that Altman is engaging in discussions with the United Arab Emirates (UAE) to secure between $5 trillion and $7 trillion in fundraising.

This is in an effort to support OpenAI in addressing its current challenges.

“The fundraising plans, which face significant obstacles, are aimed at solving constraints to OpenAI’s growth, including the scarcity of the pricey AI chips required to train large language models behind AI systems such as ChatGPT.”

Read more: ChatGPT Tutorial: How To Use ChatGPT by OpenAI

Token Metrics claims that if Altman can pull this off, there is a potential for huge price gains in the AI crypto sector.

“If he manages to raise that much we could see, many AI coins go parabolic.”

Top 5 AI and Big Data Tokens by Market Cap. Source: CoinMarketCap
Top 5 AI and Big Data Tokens by Market Cap. Source: CoinMarketCap

Token Metrics outlines five AI crypto tokens that it believes have potential in the near future. These are BENQI, Onyx, Zephyr Protocol, Banana Gun, GamerCoin.

This comes after crypto exchange Binance highlighted AI crypto tokens as “a winner” in recent times.

Do These AI Cryptos Have Potential?

On January 10, BeInCrypto reported Binance’s observation that AI crypto tokens have become a clear favorite among investors.

“Interest in artificial intelligence (“AI”) has experienced an upswing in the last few months, as evident by Google search trends and soaring AI-related token prices.”

Furthermore, Binance highlighted that search results for AI have skyrocketed recently. The exchange suggested that it could be related to the surge in AI cryptocurrencies in recent times.

Read more: Will AI Replace Humans?

However, it was also recently reported that AI was the leading crypto narrative for the year. According to recent research from industry metrics outlet CoinGecko, AI was by far the most popular crypto narrative in 2023.

In 2023, Akash Network (AKT) gained the most among AI tokens, surging 1,247% from January to its 2023 peak of $2.56 on December 22.

Top crypto platforms in the US | March 2024

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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