Elon Musk, a dogecoin supporter, reportedly building new AI company called X.AI
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Elon Musk, the technology billionaire and dogecoin (DOGE) supporter has reportedly incorporated a new artificial intelligence (AI) firm called X.AI Corp. in Nevada, United States.
The company, established on March 9, has Musk as its director and Jared Birchall, Musk’s family office director; as secretary. According to the company’s articles of incorporation, the sale of 100m shares has already been approve
Speculations about the new AI company
The news comes after days of speculation that Musk was planning to launch an AI company. A series of actions by the billionaire founder fueled these rumors. Per a Wall Street Journal report, Musk recently hired several AI specialists, including Manuel Kroiss and former DeepMind researcher, Igor Babuschkin.
Earlier on, he also reportedly bought 10,000 graphic processing units (GPUs) to launch an AI product for Twitter, a social media company he owns. There were further reports that Musk had requested SpaceX and Tesla investors for funds to launch the business.
It’s expected that Musk’s new business, X.AI, would directly compete with OpenAI. However, it still needs to be clarified what the company aims to achieve with its product.
It was previously believed that Musk would work on AI in Twitter, which he acquired in October 2022. However, it is now evident that Musk wants to an alternate solution with this new, unaffiliated venture in Nevada to take on Microsoft-backed OpenAI and ChatGPT.
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