Sun 16 Apr 2023:
Elon Musk, the CEO of Twitter, has founded a new company named X.AI to advance artificial intelligence (AI) in the ChatGPT age.
According to a filing, the firm, which is incorporated in Nevada, Texas, lists Musk as its only director and Jared Birchall, the director of Musk’s family office, as its secretary.
According to the Wall Street Journal, X.AI has approved the sale of 100 million shares for the privately held business.
Musk wants to establish an AI company to compete with Microsoft-backed OpenAI, the company behind the popular ChatGPT AI chatbot.
Ironically, Musk was the one who initially put $100 million into OpenAI before leaving the organization.
The terms ChatGPT and GPT-4 have gained popularity recently all around the world.
The open letter came as reports surfaced that Musk tried to take control of OpenAI in early 2018 but Sam Altman and OpenAI’s other founders rejected Musk’s proposal.
Musk, in turn, walked away from the company and reneged on a massive planned donation, according to Semafor.
The Twitter CEO reneged on a promise to supply $1 billion in funding, but contributed only $100 million before he walked away.
In March, 2019, OpenAI announced it was creating a for-profit entity so that it could raise enough money to pay for the compute power.
Microsoft invested $1 billion in OpenAI less than six months later, and the rest is history.
OpenAI’s last valuation was close to $20 billion, making it the most valuable company supported by AI in the world.
Musk has recently criticized OpenAI on numerous occasions.
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