Elon Musk, the Tesla and SpaceX CEO, has started a new artificial intelligence (AI) company called X.AI. The Wall Street Journal and Financial Times reported that Musk has incorporated X.AI in Nevada and authorized the sale of 100 million shares of the private company. Musk is the sole director of the company and Jared Birchall, Musk’s confidant and the director of his family office, is the secretary.
The new venture seeks to compete with OpenAI, a research laboratory Musk helped establish in 2015. Musk also intends to build an ‘Everything App’ named X, which he announced on Twitter last year. He has since renamed Twitter to X Corp and changed its incorporation from Delaware to Nevada and created a parent company called X Holdings Corp.
Musk has reportedly been recruiting AI engineers from top technology companies, such as Alphabet-owned DeepMind. The billionaire has also been talking to investors in his businesses, SpaceX and Tesla, about backing his startup. Musk sees a need for regulation and oversight of AI and has been vocal about the dangers of artificial general intelligence (AGI).
The graphics processing units (GPUs) required for AI processing have already been purchased, as reported by Business Insider on Tuesday. X.AI will be a new player in the AI space, competing with OpenAI, that could revolutionize the AI industry with its solutions and technology. Additionally, the company will be profitable if Musk’s ambitious goals are met.
