- Prices of AI tokens decline in the past 24 hours, wiping out 6% of the category’s market capitalization.
- Apple announced that users can tap into OpenAI’s ChatGPT while using Siri, if they opt for it.
- Elon Musk criticized Apple’s move to collaborate with OpenAI for AI features in the latest iPhones.
The Artificial Intelligence (AI) category of crypto tokens extended their losses on Tuesday following Apple’s foray into AI. The tech giant announced the integration of OpenAI’s ChatGPT alongside its virtual assistant Siri, for users who opt in.
Elon Musk slammed the tech giant for its move, noting that user’s security and privacy could suffer.
AI tokens extend losses
Data from crypto price tracker CoinGecko shows that the AI category of crypto tokens has wiped out 6% of its total market capitalization in the past 24 hours to $33.286 billion on Tuesday.
In WWDC 2024, Apple announced software update versions and revealed plans to use Artificial Intelligence collaborating with OpenAI. Since then, AI tokens have extended losses.
CoinGecko shows that the top 5 AI tokens ranked by market capitalization have corrected between 2% and 6% in the last 24 hours.
CoinGecko top 5 AI tokens
Following tech giant Apple’s announcement of AI feature integration and improvement in its virtual assistant Siri, AI tokens extended their losses. Typically, AI-related positive announcements catalyze gains in asset prices. However, Apple’s AI push failed to have the same effect.
Musk slams Apple’s OpenAI partnership
In a recent tweet on X, Elon Musk said that it is “patently absurd” that Apple put the security and privacy of its users in OpenAI’s hands. Musk slammed the tech giant and said,
Apple has no clue what’s actually going on once they hand your data over to OpenAI. They’re selling you down the river.
It’s patently absurd that Apple isn’t smart enough to make their own AI, yet is somehow capable of ensuring that OpenAI will protect your security & privacy!
— Elon Musk (@elonmusk) June 10, 2024
Apple has no clue what’s actually going on once they hand your data over to OpenAI. They’re selling you down the river.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Donald Trump backed World Liberty Financial triples Ethereum holdings ahead White House Crypto Summit
Donald Trump’s World Liberty Financial increased its Ethereum holdings nearly threefold on Thursday, buying the recent ETH price dip. Ethereum hovers around $2,200, up nearly 1.5% on Thursday.
White House Crypto Summit: What investors should know
The upcoming first-ever White House Crypto Summit will be held on Friday. The event will unite key industry leaders to explore how regulation and innovation can shape the cryptocurrency market's future.
Bitcoin recovers above $92,000 ahead of first-ever White House Crypto summit
Bitcoin extends recovery and trades above $92,000 on Thursday after rallying 5% in the last two days. A Glassnode report highlights that Bitcoin’s market reaction hinges on the $92,000, a key level for momentum, while $71,000 serves as critical support if BTC declines.
Chainlink bulls target a 30% upside as key support holds strong
Chainlink extends its gains by more than 4% on Thursday, trading around $17.22 after rallying nearly 13% in the last two days. On-chain data suggest a rally ahead as LINK's long-to-short ratio reaches its highest monthly level and its funding rates are positive.
Bitcoin: BTC bloodbath continues, near 30% down from its ATH
Bitcoin (BTC) price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.