Elon Musk, billionaire CEO of Twitter and Tesla, is challenging the AI (Artificial Intelligence) industry with a new startup, as reported by Financial Times. The tech entrepreneur is looking to compete with OpenAI, the makers of ChatGPT, by launching a new Artificial Intelligence venture. The recent document filings discovered on Friday reveal Elon Musk is listed as the Director of the company, X.AI Corporation, which was established on March 9 in Nevada.
X.AI Corporation was created via a shell company, named ‘X’ to retain the brand name, but not the underlying business of the company, thereby becoming a possible rival to OpenAI. Further to this intent, Musk has been strategically investing in powerful computing processors and hiring skilled engineering talent for an AI project in Twitter, whilst increasing cost-cutting operations in the form of workforce layoffs.
Interestingly enough, the founding period of X.AI Corporation predates Musk’s participation in an open letter asking the pause in development of powerful AI systems, which was published on the Future of Life Institute venture, founded and funded by Musk himself. Among the list of prominent companies such as Microsoft and Alphabet, that are backing the creation of Generative AI which can be seen in the latest chatbot sensation ChatGPT, Musk’s venture manages to set itself apart.
The billionaire Tesla CEO, along with some other key figures, expressed their concern as to how these AI systems with human intelligence can bring deepised risks to the society and eventually, humanity. Funding for this startup is said to come from stocks of Nvidia Corp, a prominent chip company, and Musk has already obtained thousands of Graphics Processing Units for his venture.
The sole director and founder of X.AI Corporation is Elon Musk, and Jared Birchall, mentioned as the Managing Director of Musk’s family office, is present as the company secretary. Despite Reporters request for a comment, neither Musk nor Nvidia have responded.
