Friday, June 9, 2023
  • Musk who is the new owner and CEO has been on the record opposing Artificial Intelligence (AI) and its growth
  • Social media app Twitter has been hitting the headlines in recent months for various reasons since Elon Musk’s takeover
  • The Space X CEO has however purchased nearly 10,000 graphics processing units intending to further his AI projects at Twitter

Elon Musk’s popular social media network Twitter is apparently planning to launch a new tool that would allow users to trade cryptocurrencies and equities. The new tool is being developed in collaboration with fintech startup eToro, according to CNBC.

Twitter will allow users to examine market charts for a broader range of financial instruments. Furthermore, they can as well buy and sell cryptocurrency and other assets via eToro. The most recent collaboration between the social media platform and the fintech startup will expand on Twitter’s “cashtags” function, which presently allows users to examine real-time trading data from TradingView.

The new financial capabilities are accessible through a “view on eToro” tab, which directs users to eToro’s trading platform. The fintech startup, which was formed in 2007, added crypto trading services as well as a crypto wallet in 2019.

Twitter target new audiences on the app

The current collaboration would also be the social media giant’s first big transaction since Elon Musk took over as CEO after acquiring the social media network for $44 billion last year. Yoni Assia, CEO of eToro, described the collaboration as a perfect fit and believes the tool will help introduce a new audience to the site.

READ: Elon Musk changes Twitter logo to meme dog, endorses Dogecoin as Twitter’s payment option

Assia observed that financial Twitter grew highly popular and was critical to the retail trading boom in 2021. He went on to say that “cashtags” searches now number in the millions. Musk, on the other hand, stated in a recent interview that he wants Twitter to become “the biggest financial institution in the world.”

Elon Musk had previously proposed turning Twitter into a “super app,” with a focus on creating an ecosystem that would provide users with access to several internet services in one place. The concept of the mega app is popular in China, where such apps serve as a portal to everything a consumer requires in their daily life. For example, WeChat provides instant messaging, social media, travel and hotel booking, banking, and other services.

Musk buys GPUs for Twitter Artificial Intelligence project

Elon Musk recently made waves when he spearheaded a letter calling for a halt to AI development owing to societal concerns. Despite his efforts, the tech magnate appears to be moving forward with his own plans for establishing AI infrastructure.

According to Business Insider, Musk looks to be going through with plans for an AI project at Twitter. According to two anonymous Twitter sources, the CEO recently purchased approximately 10,000 graphics processing units (GPUs) for use on the platform.

ALSO READ: How to view crypto, stock and ETF charts directly on Twitter

Due to the tremendous computing power required by the technology, GPUs typically operate on large-scale AI models. This comes after Elon Musk tweeted on March 18 that the business would employ Artificial Intelligence to “detect & highlight manipulation of public opinion” on Twitter.

According to unidentified insiders, the project is still in its early stages, but the purchase of so many GPUs suggests Musk is “committed” to it. According to one of the reports, the project employs a big language model. However, according to the sources, the precise role of generative AI at Twitter is unknown.

Furthermore, Twitter just added new talent with vast experience in the field of artificial intelligence. Engineers Igor Babuschkin and Manuel Kroiss joined Musk’s team in March after working with DeepMind, Alphabet’s AI research division.


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