Elon Musk founded his artificial intelligence (AI) company, xAI, in July of 2023, introducing a unique concept called the “Muskonomy” to attract potential investors. The company emphasized its connection to Musk’s various enterprises in its investor presentation, leveraging his successful track record and the accomplishments of OpenAI as compelling reasons for investment consideration.
In the pitch deck reviewed by Bloomberg, xAI positioned itself as a promising venture under Musk’s leadership, highlighting his expertise in establishing market-leading companies, particularly in the realm of cutting-edge technologies requiring substantial engineering capabilities. The deck, circulated among investors between December and January, underscored xAI’s access to the “Muskonomy” and its strategic partnership with Tesla and X (formerly Twitter, acquired by Musk in 2022), which would contribute valuable training data to the AI startup.
Despite managing multiple enterprises, including Tesla and SpaceX, Musk remains actively involved in steering xAI towards success. The pitch deck also drew attention to the achievements of xAI’s competitor, OpenAI, noting the potential trajectory that OpenAI’s success could offer as a reference point for xAI’s development.
Musk’s vision for xAI, as articulated in a post on X, centers on the pursuit of “understanding reality,” with the company’s initial foray into AI chatbots exemplified by the launch of Grok in November. While xAI aims to rival OpenAI in the AI space, Musk has refuted claims of seeking external funding for the venture, as stated in a tweet on January 26, 2024.
Despite speculation and inquiries, representatives for Musk have yet to provide a response to Business Insider’s request for comment outside of regular business hours.
