Intel reports upbeat revenue guidance; scales back chip factory construction plans
Elon Musk announced that his AI chatbot, Grok 3, is nearing completion and is expected to be released soon. In a video call at the World Governments Summit in Dubai, Musk stated that Grok 3 demonstrates "very powerful reasoning capabilities" and has outperformed all existing AI models in tests.
The tech entrepreneur, who has founded a company named xAI, is positioning Grok 3 as a competitor to OpenAI, which is backed by Microsoft (NASDAQ:MSFT), and Google (NASDAQ:GOOGL)’s AI solutions.
Musk, who also co-founded OpenAI, has been actively involved in a legal battle with the organization. He filed a lawsuit against OpenAI CEO Sam Altman and others in August, seeking to prevent OpenAI from transitioning to a for-profit entity.
This week, Musk and a group of investors offered $97.4 billion to acquire OpenAI’s nonprofit assets, a move that coincides with his legal efforts. OpenAI has expressed its desire to become a for-profit to access the necessary capital for AI development.
In addition to his AI endeavors, Musk, who was appointed by former U.S. President Donald Trump to lead the Department of Government Efficiency, shared his vision for economic growth and government spending reduction. He suggested that with strategic cuts, government spending could be decreased by around $1 trillion, potentially enabling the economy to grow by 4-5% without causing inflation from 2025 to 2026.
During the summit, UAE AI Minister Omar Al Olama announced a collaboration with Musk on the "Dubai Loop," an underground high-speed transport system. Al Olama did not provide further details about the project, which Musk likened to a "wormhole."
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Musk also commented on U.S. foreign policy, suggesting that the country has been overly interventionist and should focus more on domestic affairs. His remarks come in the context of controversial statements by Trump regarding the Gaza strip and its inhabitants.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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