X.AI Corp. is Elon Musk’s new venture in the AI space

It's worth noting that Musk recently also changed Twitter's name to X Corp., matching the name of his new company

Tesla CEO Elon Musk has reportedly created a new company called X.AI Corp., which is incorporated in Nevada.

First reported by The Wall Street Journal, according to a state filing, Musk is the only listed director of the company and director of Musk’s family office; Jared Birchall is listed as the company’s secretary.

Musk has previously stated his intention to create ‘X,’ the “everything app.” The new company’s name — X.AI, sounds like it might be affiliated with Musk’s ‘Everything app.’

It’s worth noting that Musk recently also changed Twitter’s name to X Corp., matching the name of his new company. According to a legal filing from last week, Twitter is also now incorporated in Nevada instead of its previous home in Delaware.

The Wall Street Journal says that Nevada’s laws provide more discretion and protection to a company’s management and officers than Delaware, which is likely why Musk changed the social media company’s registration.

The new company’s name suggests it will likely deal in AI research. This comes soon after Musk co-signed an open letter addressed to AI labs globally to pause the development of large-scale AI systems, quoting concerns regarding “profound risks to society and humanity.” Soon after, it was reported that Musk was working on an AI project within Twitter. The company even acquired roughly 10,000 GPUs (graphics processing units),  likely to be used on a large AI model for the platform. According to sources familiar with the matter, the project is at an early stage. It’s currently unclear what Musk’s AI project would focus on. Likely use cases could be to better target users with ads or improve the platform’s search functionality.

Further, according to Business Insider, Musk hired Igor Babuschkin and Manuel Kroiss from Alphabet-owned AI research firm DeepMind in March to help him on his AI endeavour that would rival OpenAI’s ChatGPT.

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Source: The Wall Street Journal