Billionaire tech entrepreneur Elon Musk, who owns Twitter and acts as CEO of Tesla and SpaceX, announced on Wednesday the launch of his new artificial intelligence company xAI.

“Announcing formation of @xAI to understand reality,” Musk tweeted Wednesday afternoon.

According to xAI’s website, the goal of Musk’s new company “is to understand the true nature of the universe.” More details about the project will be revealed during a Twitter Spaces event on Friday, July 14th.

“Our team is led by Elon Musk, CEO of Tesla and SpaceX. We have previously worked at DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto. Collectively we contributed some of the most widely used methods in the field, in particular the Adam optimizer, Batch Normalization, Layer Normalization, and the discovery of adversarial examples,” xAI’s website states.

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