Elon Musk has launched a new AI company incorporated in Nevada as part of the billionaire’s plan to create a new super company.
Musk is the sole listed director of the company, which he called X.AI Corp., according to The Wall Street Journal.
X.AI has authorized the sale of 100 million shares for its privately held business.
A filing dated March 9 in Nevada also shows that Musk registered X.AI as a domestic corporation in Las Vegas, Fox Business reported.
The new business takes inspiration from Musk’s vision to create an all-encompassing app named X.
The Twitter CEO recently changed the name of that company to X Corp.
Twitter has also shifted its incorporation from Delaware to Nevada, according to a legal filing made last week, and became a subsidiary of X Holdings Corp.
Nevada’s laws offer greater discretion and protection to a company’s management and officers when compared to Delaware, according to legal experts.
The CEO of Tesla did not respond to the Journal’s request for comment.
Musk has previously warned about the risks from AI technology and advocated for governments to regulate it.
However, he has been busy recruiting researchers, aiming to establish a rival effort to OpenAI – the company behind the viral chatbot, ChatGPT.
He recently brought Igor Babuschkin, a scientist from Alphabet-owned AI lab DeepMind, on board to lead his new initiative. Musk has also reportedly attempted to recruit OpenAI employees for this new venture.
Musk co-founded OpenAI eight years ago but left the company in early 2018 after losing a power struggle to its current chief executive, Sam Altman, according to the Journal.
Musk has reportedly voiced concerns that ChatGPT has political biases and expressed his desire to create AI models that are more truth-seeking.
OpenAI made waves earlier this year with the release of GPT-4, an AI model designed to replicate human reading and writing, which surpassed most individuals on standardized tests such as the LSAT.
Musk’s latest endeavor, if successful, will add to the intense competition among tech companies to create advanced AI models.
Previously, Microsoft’s Bing search engine has incorporated AI technology into its latest version, while Google and Amazon, among others, have also announced their own AI initiatives.
Late last month, Musk joined more than 1,000 experts in signing a Future of Life Institute petition calling for a six month or more moratorium on developments in advanced AI technology, which received more than 26, 000 signatures.
Supporters of the pause argue that it would give the industry time to set safety standards for their design and head off potential harms.
The business magnate has a deep connection with the X name. His former online banking startup, which later merged with another company to become PayPal, was named X.com. Additionally, he refers to one of his children as X.
With Post wires
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