Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

What is the new xAI company launched by Elon Musk?

ByFederica Montella
Published 13/07/2023, 12:12

xAI

Elon Musk, yesterday, has officially launched its new artificial intelligence-based business called xAI.

On Twitter, Elon Musk announced the new company with the following words: “Announcing formation of @xAI to understand reality"



The new company has been created with the aim of being a direct competitor to ChatGPT and as a consequence of the huge interest and investments in artificial intelligence.

Companies such as Microsoft (NASDAQ:MSFT), with its partnership with OpenAI, and Google (NASDAQ:GOOGL) with Bart, its own chatbot, have already invested millions of dollars in this specific sector.

On the xAI website is clearly stated the mission of Elon Musk’s newly formed AI company, which is the following: "The goal of xAI is to understand the true nature of the universe".

According, to the xAI website, the company is led by Elon Musk, CEO of Tesla and SpaceX.

At the moment there are 11 members of staff plus the owner Elon Musk.

All of them are experts in AI but the company is looking for new talents to join the team.

On the company website, it is also stated that "We are a separate company from X Corp, but will work closely with X (Twitter), Tesla, and other companies to make progress towards our mission."

Interesting is the fact that Musk is particularly attached to the letter X and the new company could not have a different name.

The announcement of the new company xAI arrived a few days later of the launch of Threads the social media owned by Meta Platform, a direct rival of Twitter.

Follow me

If you find my analysis useful, and you want to receive updates when I publish them in real-time, click on the FOLLOW button on my profile!

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.