False claims of Elon Musk launching AI-powered trading platform

In recent news, Elon Musk has once again been making waves in the tech industry. Last month, he caused a global buzz by announcing the significant rebranding of Twitter to "X."

But the excitement doesn't stop there. Recently, there have been claims that Musk is launching a new AI-powered trading platform. This news has caught many people's interest, especially those involved in the stock market and trading.

Social Media Posts

Facebook Page called "Elon musk trading company" published the post claiming that Elon Musk is launching his new AI-powered trading platform.

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We also found another similar post from the Facebook page called “Elon Musk Trading Platform” with the similar claim.

Source | Archive

After investigation, we have found that the claim was false and likely to be a scam.

Fact-Check

We began the investigation by reviewing the claiming profiles. Our review revealed that both profiles were created only a few months ago. In May, one of the profiles changed its name to include Musk's name, as shown below:

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Furthermore, similar claims about Musk's trading platform had already circulated months ago, as reported by Factly (watch the video here). According to the report, no confirmed information from reputable sources exists that Elon is launching the trading platform.

And on August 4th, Elon Musk denied the claim that Twitter/X will launch its own stock trading platform via his account in response to a tweet.

No work is being done on this to the best of my knowledge

— Elon Musk (@elonmusk) August 3, 2023

Archive

We also find a few video posts such as this, claiming that Elon Musk was promoting an AI-powered trading software named “Quantum AI” and requesting the public to join them at the earliest. However, our investigation found this again was manipulated video. Archived

In fact, Elon Musk never spoke of such a trading platform during the 2023 Annual Shareholder Meeting from which the original video was captured. Here is the original video in which Musk was reviewing the past year’s performances.

Here is an article about Quantum AI promotions that try to imply that Elon Musk and his teams are backing the platform.

Conclusion

The claims circulated on social media that Elon Musk is launching a new AI-powered trading platform is false, and Musk has denied the claim on his Twitter account.