Elon Musk's 'Stonks' Tweet Resurfaces Amid xAI Update

Elon Musk revisits his 2021 tweet, which exploded the market, while announcing an upcoming update of xAI's Grok AI chatbot. The tweet, which included the "Stonks" meme character and references to the stock market and Bitcoin, was alleged to be market manipulation by some investors. However, Musk was acquitted by the SEC in a related lawsuit in 2018.

Elon Musk, the CEO of Tesla and xAI, has revisited his controversial 2021 tweet that sparked market reactions, while announcing an upcoming update of xAI's Grok AI chatbot. The tweet, which included the "Stonks" meme character and references to the stock market and Bitcoin, was alleged to be market manipulation by some investors. However, Musk was acquitted by the SEC in a related lawsuit in 2018.

Musk recently posted a 6-second video on Twitter, featuring the "Stonks" meme character, to announce an upcoming feature of Grok AI that will allow the chatbot to speak in a human voice. This feature combines text, image, and video-generating capabilities, marking a significant innovation for the app.

The tweet from 2021, which included the phrases "Stonks!" and "Gamestonk," was related to the stock market and the stocks of a particular company - GameStop. The tweet led to a significant price increase for GameStop shares, which were later suspended for trading. Musk's mention of Bitcoin in his Twitter bio also contributed to a substantial increase in the cryptocurrency's price.

The SEC had previously alleged that Musk was manipulating markets by tweeting about certain companies' stocks or Bitcoin. However, Musk was acquitted in a lawsuit filed against him by the SEC in 2018.

The latest update to Grok AI is set to be released soon, and Musk has stated that the chatbot will be able to say words in a human voice. This feature is the most recent innovation rolled out by the xAI team and combines text, image, and video-generating capabilities in a single app.

Musk's announcement of the upcoming Grok AI update has reignited discussions about the potential impact of AI on financial markets. While the SEC has previously alleged market manipulation, Musk's acquittal in a related lawsuit suggests that the legal system may not view his tweets as a violation of securities laws.

The ongoing rivalry between Musk and Sam Altman, the CEO of OpenAI, has also been highlighted in recent weeks. Altman has accused Musk of manipulating the X platform to benefit his own companies, while Musk has accused Apple of favoring OpenAI's ChatGPT in the App Store rankings.

Despite the allegations and rivalries, Musk's announcement of the Grok AI update has generated significant interest in the tech and financial communities. The upcoming feature is expected to further enhance the capabilities of the AI chatbot and may have implications for the broader AI industry.

References:
[1] https://ca.news.yahoo.com/elon-musk-revisits-his-historic-tweet-which-exploded-market-in-2021
[2] https://u.today/elon-musk-sam-altmans-feud-161956298.html
[3] https://finance.yahoo.com/news/robinhoods-ceo-says-got-advice-090002021.html