Tesla CEO Elon Musk is reportedly in the process of creating his own artificial intelligence company, X.AI Corp, which will reportedly compete with OpenAI’s ChatGPT.

The new company is in talks with investors from Tesla and SpaceX to raise capital and is already hiring AI researchers and engineers. X.AI has been officially registered in Nevada and is funded with $100,000, but no other person or company plans are mentioned in the filing.

Musk recently combined Twitter with a new shell company called “X,” and despite advocating for a freeze in AI development, his move is considered an alternative to OpenAI.

Earlier this week, Musk acquired hundreds of graphics processing units, fueling speculation of his involvement in an AI project.