Elon Musk Establishes New AI Company ‘X.AI Corp’: Reports

Billionaire Elon Musk has incorporated a new artificial intelligence company called X.AI Corp in the US state of Nevada.

According to the state filing, Musk is the only listed director of the newly established company. Reports suggest that Jared Birchall, director of Musk’s family office, has been listed as the company’s secretary.

The filing was made last month and the X.AI company has authorised the sale of 100 million shares for the privately held company. This means that the company was established even prior to Musk's involvement in an open letter supporting a six-month pause in the development of powerful AI systems.

This week, Financial Times had reported that Elon Musk is looking to launch an AI startup to rival ChatGPT-creator OpenAI. According to the report, Musk has acquired thousands of GPUs and systems that will be required to power the AI endeavour. This reportedly includes high-end graphics tech from NVIDIA.