Investors who remember the tumultuous events of 2021 may prefer Elon Musk to distance himself from cryptocurrencies. Despite causing significant market fluctuations, Musk’s influence led to unforeseen gains and losses. Nowadays, he makes headlines due to a job posting for xAI rather than his cryptocurrency ties.
<h2 xai's foray into cryptocurrency
Elon Musk’s artificial intelligence company, xAI, has merged with SpaceX to form a massive corporation valued at $1.25 trillion. In the wake of this merger, the AI company is now seeking cryptocurrency experts to train AI models, emphasizing the need for specialists with a deep understanding of market intricacies.
“As a Crypto Specialist, you will play a crucial role in advancing xAI’s pioneering AI models by providing high-quality annotations, evaluations, and expert justifications using proprietary labeling tools. You will collaborate closely with technical teams to support the creation and development of new AI tasks, focusing particularly on cryptocurrency and digital asset markets.
Your extensive domain knowledge will guide the rigorous resolution of complex issues in quantitative crypto strategies, including on-chain analysis, DeFi protocols, perpetual futures and derivatives, inter-exchange arbitrage, market microstructure in fragmented markets, MEV-aware execution, machine learning for crypto alpha signals, and 24/7 high-volatility market portfolio/risk management. This role requires sharp quantitative thinking, rapid adaptation to evolving instructions, and the ability to provide precise, technically sound critiques and solutions in a dynamic environment.” – Job Listing
Candidates for this position are also expected to have a master’s or doctorate in finance. It seems that while Musk claims to dislike cryptocurrencies, he does not shy away from integrating them into his business repertoire.
The Merger of SpaceX and xAI
According to the agreement completed on February 2nd, Musk’s companies SpaceX and xAI have merged. Following this merger, the newly formed entity has been described as “the most ambitious, vertically integrated innovation engine on Earth and beyond, with a focus on AI, rockets, and space-based internet.” Musk initiated SpaceX in 2002 and xAI in 2023, combining his most valuable enterprises.
Last year, SpaceX began a secondary share sale with an $800 billion valuation. Earlier this year, xAI completed a funding round with a valuation of approximately $230 billion, raising $20 billion. The merged companies are expected to reach a valuation of $1.25 trillion after going public.
