Musk plans to rival OpenAI with an AI startup

A Forbes report published on Friday cited people familiar with Elon Musk's plans that the billionaire is working on the launch of a competitor to ChatGPT's OpenAI, the billionaire's artificial intelligence start-up.

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Apparently, the owner of Twitter, Elon Musk, is assembling a team of AI researchers and engineers for the new venture that he plans on launching in the near future. The report also said Musk has already begun discussing funding with some investors from SpaceX and Tesla Inc (TSLA.O) about investing in the new venture.

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Trade Algo contacted Musk for a comment, but he did not respond immediately.

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According to experts and industry executives in the field of artificial intelligence, including Musk, a six-month break is needed from research and development of machines more powerful than OpenAI's GPT-4, due to its potential risks to society.

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A news report published earlier in the week by Business Insider reported that Tesla CEO Elon Musk has reportedly secured thousands of AMD Radeon GPUs, which are used in high-powered computing applications such as artificial intelligence and high-end graphics, for use in the company.