Elon Musk launches new AI company, called xAI, with Google and OpenAI researchers

Billionaire Elon Musk on Wednesday announced that he has formed a new artificial intelligence company called xAI, which has hired researchers from Google, OpenAI and other top technology firms. The goal, Musk tweeted, is "to understand reality."

xAI is a separate entity from Musk's other businesses, such as Tesla and Twitter, but will work closely with them, according to the new company's website.

Musk isn't a novice to AI given that Tesla uses the technology in its vehicles. While xAI didn't disclose what projects it will be working on, the company noted that its team of 11 researchers are drawn from top tech companies such as Microsoft Research, DeepMind, OpenAI and Google.