What is the new xAI company launched by Elon Musk?


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, with its partnership with OpenAI, and Google with Bard, 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.

Portfolio update

I am rebalancing my portfolio gradually.

I am adding new positions and will close some in the upcoming months.

If you are already copying my portfolio, please keep the copy open.

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Thank you, everyone. Have a nice day!

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1. Create an eToro account here: https://federicamontella.com/go/etoro/

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Let me know if you have any questions.


Federica Montella

eToro Popular Investor


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Author: Federica Montella
eToro Popular Investor, food lover and blogger. Stock trader and Popular Investor at eToro. I am on a mission to find the best restaurants and food to eat.