X.AI Elon Musk's New Artificial Intelligence Company

X.AI Corp., a new artificial intelligence company created by Elon Musk, is incorporated in Nevada, where it has filed a filing with the state, according to a court filing.

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It is noted in the filing made last month that Mr. Musk is the only director of the company listed, and Jared Birchall, the director of Mr. Musk's family office, is the company's secretary, according to information revealed in the filing. The private company X.AI has been authorized to sell 100 million shares of its stock for a total of $500 million.

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This company has been inspired by Musk's hunch that he intends to build an all-in-one everything app called X.  It is interesting to note that Twitter, which is also owned by Mr. Musk, recently changed its name to X Corp. Moreover, according to a legal filing that was filed last week, the social-media company, which was based in Delaware for a long time, was incorporated in Nevada instead of its former domicile. There is a parent company called X Holdings Corp. that owns X Corp. 

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In comparison to Delaware, Nevada's laws are considered to be more favorable to the management and officers of a company, according to legal experts.

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Musk did not respond to a request for comment on the X.AI project. There have been times when the billionaire has warned about the risks associated with artificial intelligence technology and urged governments to regulate it more.

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Among Mr. Musk's AI ambitions, he has been recruiting researchers for a rival effort to OpenAI, which launched the viral chatbot ChatGPT in November with the goal of creating a rival effort to OpenAI. According to researchers familiar with the outreach, Mr. Musk has been recruiting for months to create a rival effort to OpenAI. Investor interest in the field of OpenAI has reached a fever pitch as a result of OpenAI's success. 

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OpenAI was founded by Mr. Musk eight years ago, but he left the company in the early part of 2018 after losing a power struggle with Sam Altman, its current CEO. A number of times, Musk has complained about ChatGPT being politically biased, and he has given associates the impression that he wants to develop AI models that will be more truth-seeking, but he has not actually said what that means.

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Igor Babuschkin, a scientist at the Alphabet Inc.-owned artificial intelligence lab DeepMind, who was recently recruited by the Tesla Inc. chief executive to lead the new effort, has been named as the new idea's head of research. He has also tried to recruit OpenAI employees to join the new lab, but his efforts have had limited success so far, according to people familiar with the situation. There was a report in The Information earlier this week about the hiring of Mr. Babuschkin. 

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Mr. Musk's new lab, if it proves successful, will provide yet another entry to the fierce race among tech companies in order to develop more powerful artificial intelligence models in the near future. Earlier this year, OpenAI released GPT-4, a model that was specially designed to imitate the reading and writing processes of humans, and it was able to outperform most people on standardized exams like the LSAT. Microsoft Inc's Bing search engine is also being upgraded to use the new technology in a new version to improve its search performance. Other companies such as Google, Amazon.com Inc., and others have also announced AI programs or are in the process of doing so.

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Musk, along with some other technology executives and AI researchers, called for a six-month or longer moratorium on the development of advanced artificial intelligence technology late last month. As the proponents of the pause argue, this would give the industry time to develop safety standards for its design and to prevent any potential harm from happening.

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The name X has been associated with Mr. Musk for a long time. His former online banking startup X.com later became PayPal after it was merged with another company called X.com before it was acquired by PayPal. In addition, he refers to one of his children as X, as well.