Elon Musk AI Startup: The CEO of Tesla, Twitter and Spacex, reportedly plans to found an artificial intelligence business that will compete with OpenAI, according to a Friday Financial Times report. The billionaire registered X.AI, a corporation in Nevada, in March, according to Nevada corporate papers. Musk is the sole director of the business, and the corporation’s secretary is seasoned wealth manager Jared Birchall. Read More Business News on our website.
Elon Musk to Challenge ChatGPT with His AI Startup
The Financial Times claimed that Musk, the CEO of Tesla, SpaceX, and Twitter, has been putting together a team of academics and engineers and speaking with several financiers, citing persons familiar with the issue. He is also rumoured to be hiring from other well-known AI firms, such DeepMind, which is a subsidiary of Alphabet.
A source with knowledge of the issue told The Financial Times that “It’s true, and they are delighted about it.”
According to corporate filings, Musk’s Nevada corporation is called X.AI, and it resembles both the name of the recently reported holding company for Twitter and Musk’s long-held concept for an “everything app.” X.AI has 100 million outstanding shares and a mailing address in Burlingame, California.
That mailing address is associated with Carr McLellan, a law firm based in California, and it has also been utilized in SEC filings about Musk’s tunneling company, the Boring Company.
According to the source, Musk has acquired a sizable number of Nvidia GPU chips. The chips are a crucial component in creating a sizable LLM that can compete with OpenAI’s GPT. Musk said he was buying processors for his companies in a Twitter Spaces interview with the BBC this week.
“It seems like everyone and their dog is purchasing GPUs at this moment,” said Musk. Tesla and Twitter are buying GPUs.
Musk was once a significant monetary supporter at OpenAI, committing $1 billion over numerous years, as indicated by a prior report from Semafor. OpenAI added a for-profit business segment at the same time that Musk ended his financial and operational commitments to the company. Microsoft
put $1 billion in OpenAI not long after Musk cracked with the gathering and was recently dedicated to another multibillion-dollar speculation.
Musk has criticized OpenAI, the company that developed ChatGPT, in public. Musk signed an open letter in March requesting that any research on AI models that are more advanced than OpenAI’s GPT-4 be halted immediately for six months. He has stated that AI is “one of the biggest risks to civilization’s future.”
Musk’s accounted-for adventure could turn into the furthest down-the-line contestant to an inexorably packed space. Amazon, in addition to Google and Microsoft, made its entry into the generative AI market on Thursday.
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