“Announcing formation of xAI to understand reality,” the billionaire entrepreneur wrote on Twitter — his fledgling social media platform — Wednesday. On the company’s website, Musk and fellow leaders said they plan to further explain their latest venture and answer questions during a Twitter Spaces chat on Friday. Elon Musk, who owns Twitter, Tesla and SpaceX, speaks at the Vivatech fair Friday, June 16, 2023 in Paris. Vivatech is Europe’s biggest startup and tech event. The announcement comes mere months after the 52-year-old entrepreneur joined other thought leaders in signing an open letter calling for a pause in AI development. “Should we let machines flood our information channels with propaganda and untruth?” reads the letter from late March. “Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us? Should we risk loss of control of our civilization?” Before signing that letter, Musk incorporated xAI in Nevada, according to the Wall Street Journal, which said the world’s richest man hopes to sell 100 million shares in the company. Musk has enjoyed tremendous success in the electric automobile market, where his car company Tesla has made him worth $245 billion, according to Forbes. His SpaceX exploration company has also been praised as a trailblazer in rocket and satellite technologies.