Elon Musk incorporated a company named X.AI in the state of Nevada.
Sources informed FT that the company would be an AI company that will rival OpenAI. Musk is reportedly in talks with investors to raise funding for the new startup. The filing shows that the firm has authorized the sale of 100 million shares.
Musk is named as the company's only director in the incorporation filing, with ex-Morgan Stanley banker Jared Birchall designated secretary.
- According to sources, Musk is assembling a team of AI researchers and engineers, which includes former DeepMind executive Igor Babuschkin.
- Musk has also secured nearly 10,000 GPU processors from Nvidia for the new venture, per Business Insider.
- Musk dismissed the notion that the processors were for his new venture, adding that his firm's "Twitter and Tesla are certainly buying GPUs."
Musk co-founded OpenAI in 2015 before stepping away from the board after three years due to clashes with its management.
