"Elon Musk’s xAI Adopts Benefit Corporation Model, Following OpenAI’s Lead"

From CoinPage, December 27:

Elon Musk-owned AI startup, xAI, embraces the public benefit corporation model, mimicking rivals like OpenAI and Anthropic. 

Billionaire Elon Musk-owned artificial intelligence startup, xAI, has adopted a for-profit benefit corporate structure in Nevada, joining the likes of OpenAI and Anthropic. This approach puts the company in a unique position to do some societal good, and dilutes its accountability towards its shareholders, The Information reported, citing a late November filing with Nevada.

According to the filing, xAI seeks to create a “material  positive impact on society and the environment, taken as a whole.”

xAI is Musk’s Attempt To Understand the Universe
When Elon Musk first announced the launch of xAI in March this year, he said he wanted to “understand the true nature of the universe.” On its website, xAI says something similar. The company has also been collaborating with X, the social media platform formerly known as Twitter, and electric carmaker Tesla.

A benefit corporate structure appears to have become a lucrative niche, particularly for companies at the vanguard of generative AI. Take AI startup Anthropic for example. The Google-backed company is organized as a benefit corporation in Delaware, while OpenAI — the company behind ChatGPT — also has a for-profit arm.

Comparing Missions of xAI and Anthropic In AI Landscape....

....MUCH MORE

Previously:

Elon Musk's x.AI Launches

The company was formed in March so it's valuation is probably around a hundred billion or so.

Just kidding. I have no idea what sort of valuation it has been assigned. x.AI is a Nevada corporation which, as our corporate attorney readers well know, is handy as hell for a privately-held stealth company. As part of the company's coming-out I think they dropped the period in the name on the original incorporation papers.

Mr. Musk was one of the founder/funders ($100 million gift not equity) of ChatGPT parent OpenAI when it was a .org (non-profit) and seemed a bit miffed when Sam Alman hooked up with Microsoft to the tune of $10 billion.

So Elon went out and bought a garage-full of GPUs....

UPDATED—Elon Musk On Twitter and xAI: "..there’s plenty of negative feedback on Twitter, which is helpful for ego compression”

Elon Musk's Grok AI Chatbot Turns On Its Creator (also Goes Woke)

"What Grok’s recent OpenAI snafu teaches us about LLM model collapse"