Not making that up. Here’s what he said about that name:
“‘X’ represents “the unknown variable”, and ‘Æ’ is an elven spelling of “AI” (love/ artificial intelligence). Last but not least, ‘A-12’ refers to the precursor to the SR-71 Blackbird, an aircraft known for its speed and lack of weapons. Originally, the name was "X Æ A-12," but it was later changed to "X Æ A-Xii" to comply with California’s naming laws. Musk has stated that the name is pronounced “X Ash A Twelve.”
This is the guy who emailed everyone in the DOJ and told them to justify their job by listing five things they did last week.