Musk launches his own AI company.Inflation falls to two-year low

Elon Musk, seen here in 2022, was slammed by the San Francisco District Attorney for his comments about the murder of Cash app founder Bob Lee. (Photo credit: Dimitrios Kambouris/Getty Images for the Metropolitan Museum of Art/Vogue)

Elon Musk, who has hinted for months that he wants to build an alternative to the popular artificial intelligence chatbot ChatGPT, has announced the creation of what he calls xAI, with the goal of “understanding the nature of the universe.”

xAI said on its website Wednesday that the team will be led by Musk and staffed by executives and academics who have worked at a range of companies at the forefront of artificial intelligence, including Google’s DeepMind, Microsoft and Tesla. rice field. Institutions such as the University of Toronto.

Musk was involved in the creation of OpenAI, the most high-profile AI startup and developer of ChatGPT. However, since stepping down from the board in 2018, he has been a frequent public critic of OpenAI, especially since it established a for-profit arm the following year. He said he believed it was “virtually controlled by Microsoft.”

Inflation falls to two-year low

U.S. inflation has fallen to its lowest level in more than two years, a major step toward ending the cost of living emergency — and perhaps the Federal Reserve’s historic monetary tightening. It’s been a step.

Consumer price inflation last month was 3%, just a third of what it was a year ago, when it hit a 40-year high. June was also better than expected, with key measures of underlying inflation weaker than expected.

None of this means the fight against price pressures is game over, especially for the Fed, which is widely believed to be certain of another rate hike later this month. Still, the rate hike on July 26, when the US base rate will be raised to 5.5%, is highly likely to be the first interest rate hike in a long time.