Entrepreneur Elon Musk has set up a new firm focused on artificial intelligence (AI), named X.AI, as per a report from The Wall Street Journal.

The company was established last month, as indicated by a filing in Nevada, the United States.

Musk is named as the director, and Jared Birchall, the director of Musk's family office, is listed as its secretary.

The filing, which has also been obtained by The Verge, reveals that Musk incorporated the business on 9 March this year.

There has been enough speculation about a new AI project by Musk that would compete with Microsoft-backed OpenAI.

Business Insider had reported that Musk purchased numerous GPUs (graphic processing units) for this AI development.

According to the Financial Times, the billionaire businessman has approached the investors of Tesla and SpaceX for financing this new project.

The name "X.AI" matches the branding of "X Corp," which Musk has assigned to Twitter, as well as his vision of an "everything app," again associated with the "X" label.

Elon Musk co-founded OpenAI in 2015, but walked away from the AI organisation in 2018, and has since publicly expressed his opposition to it.

OpenAI is today known for its pathbreaking AI innovation called ChatGPT. It has pushed technology giants like Microsoft and Google to step up their own AI game.

Recently, Musk was one of many notable signatories to a letter asking for a halt on "giant AI experiments".

The rapid development and deployment of AI has raised concerns among researchers and ethicists about its impact on employment, public discourse, and humanity's ability to cope with a new reality.