xAI follows OpenAI and Anthropic with benefit corporation structure

Elon Musk's AI startup, xAI, has incorporated as a for-profit benefit corporation in Nevada, to "create a material positive impact on society and the environment, taken as a whole." The move mirrors the structure of AI companies OpenAI and Anthropic. As a benefit corporation, xAI is committed to operating in the best interests of all stakeholders, including employees and others it deals with. Nevada law requires xAI to have an outsider assess its compliance with its commitment to a positive impact on society and the environment annually and to publish a report outlining its public impact. In November, xAI began rolling out its chatbot, Grok, to users on Musk's social media platform, X. The company also recently disclosed plans to raise at least $1 billion.