Elon Musk has founded a new artificial intelligence company called X.AI Corp, reports The Wall Street Journal. According to the filings, Musk is the company’s sole registered director, with Jared Birchall, director of Musk’s family office, serving as secretary. X.AI Corp. has already received permission to sell 100 million shares as a private company.

The name of Musk’s new venture, X.AI, is reminiscent of his previous ambition to create a super app called X. Interestingly, Musk’s other company, Twitter, has also changed its name to X Corp, and both firms are now registered in Nevada, having changed their previous domicile to Delaware, according to the latest legal filings. Lawyers suggest that Nevada laws provide more leeway and protections for company management and officers compared to Delaware.

While Musk did not respond to requests for comment on X.AI, he has reportedly been actively recruiting researchers in recent months to compete with OpenAI, an artificial intelligence company that has garnered widespread attention for its ChatGPT chatbot. Musk co-founded OpenAI eight years ago, but left the company in 2018 after a power struggle with current CEO Sam Altman, The Wall Street Journal reported. In the past, Musk has expressed concern about the risks associated with artificial intelligence technology and advocated for its government regulation.

As part of his AI ambitions, Musk recently hired Igor Babuschkin, a scientist at DeepMind, the AI lab owned by Alphabet Inc, to lead the new project. It has also tried to hire employees from OpenAI, though with limited success, according to insiders. If successful, Musk’s new lab will join a competitive race among tech companies to develop more powerful AI models. OpenAI recently released GPT-4, an AI model that outperformed most humans on standardized exams, and its technology is integrated into a new version of Microsoft’s Bing search engine. Other tech giants such as Google and Amazon have also announced their own AI initiatives.

It is noteworthy that Musk has already been associated with the name X in the past, as he founded an online banking startup called X.com, which later became PayPal after a merger. He also called one of his children “X”. Musk recently joined other tech executives and AI researchers who called for a temporary moratorium of six months or more on the development of advanced AI technologies to give the industry time to establish safety standards and reduce potential risks