Elon Musk, the owner of Twitter and founder of Tesla and SpaceX, announced on Wednesday the establishment of a new artificial intelligence venture called xAI. Musk took to Twitter to share the news, stating, “Announcing formation of xAI to understand reality,” along with a link to the company’s newly created profile on his social network.
While xAI is technically a separate entity from Musk’s X Corp, it will closely collaborate with his other enterprises to make progress towards its mission, which is defined on the company’s website as “to understand the true nature of the universe.”
The team behind xAI consists of individuals who have previously worked at renowned organizations such as OpenAI, Google, Microsoft, Tesla, and the University of Toronto in Canada. They claim to have made significant contributions to the field of artificial intelligence, including the development of widely used methods and breakthroughs like the GPT chatbot.
The announcement of xAI had a positive impact on Tesla’s shares, which rose by 1.5% following the news. This further highlights the market’s excitement about Musk’s venture into the AI space.
According to public records, xAI was incorporated in March in the US state of Nevada, with Elon Musk listed as the sole director. The company has promised to provide more details about its operations and goals during a Twitter Spaces chat scheduled for Friday.
Rumors of Musk’s intentions to establish an AI enterprise have been circulating for a while. Business Insider reported that he had acquired a significant number of graphic processing units (GPUs) to support an upcoming generative AI offering. The Financial Times also mentioned Musk’s desire to establish an AI company that directly competes with Microsoft-backed OpenAI. It has been reported that Musk approached investors of SpaceX and Tesla to secure funding for the venture.
Interestingly, just two weeks after incorporating xAI, Musk signed an open letter alongside more than 1,000 researchers and tech executives, warning about the profound risks AI poses to society and humanity. The letter called for a six-month global pause on AI development to allow society to adapt to the rapid advancements in technology.
Musk has been vocal about his concerns regarding AI, even describing it as a potential threat to civilization. He pointed to the competition between products like ChatGPT and Bard, expressing dissatisfaction with OpenAI and labeling it as a closed source maximum-profit company controlled by Microsoft.
One notable addition to the xAI team is Dan Hendrycks, the director of the Center for AI Safety, a nonprofit organization focused on reducing the risks associated with AI technology. Hendrycks brings considerable expertise and insights to the venture as a senior advisor.
In conclusion, Elon Musk’s establishment of xAI as an artificial intelligence venture marks his continued interest and involvement in advancing and understanding the potential of AI. With a team of accomplished professionals and support from his existing enterprises, xAI aims to push the boundaries of AI research and uncover the true nature of the universe. The future developments and progress of xAI will undoubtedly be closely watched by the industry and the market as a whole.
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