Yes. The core of AIXI is the part that figures out the nature of the universe in which it finds itself (a formalization of induction), and the algorithm for tha

Yes. The core of AIXI is the part that figures out the nature of the universe in which it finds itself (a formalization of induction), and the algorithm for that is essentially "simulate all possible universes and see which ones give data that matches our observations, then apply Occam's razor and assume the simplest one is true". It will not have escaped your notice that "simulate all possible universes" would require an infinitely powerful computer, and even finite approximations quickly become wildly intractable, making the algorithm unusable for anything significantly more complex than Pac-Man. Thus AIXI is interesting for philosophical purposes, being a mathematical formalization of intelligence, but not useful for engineering purposes.