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Elon Musk launches AI company: WSJ - Stock Market Latest

Tesla Inc.
TSLA,
-0.48%

Chief Executive Elon Musk has launched an artificial intelligence company called X.AI, incorporated in Nevada, The Wall Street Journal reported Friday, citing a state filing. Musk is the only listed director of the company, and Jared Birchall, the director of Musk’s family office, is its secretary, the report said, adding that the filing was made last month. X.AI has authorized the sale of 100 million shares for the privately held company, according to the report. Earlier Friday, the Financial Times said that Musk was hiring engineers and talking to Tesla and Space X investors to launch an AI startup that would rival Open AI. According to the FT report, which cited anonymous sources, Musk has amassed “thousands” of GPU processors from Nvidia Corp.
NVDA,
+1.11%

for the new venture.

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