AI tokens extend losses despite Apple's leap into artificial intelligence


  • 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. 

AI

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.


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