Musk Leads $97.4 Billion Bid to Acquire Control of OpenAI
Elon Musk and a consortium of investors offer $97.4 billion to buy the nonprofit that oversees OpenAI. The unsolicited bid intensifies an ongoing legal and public feud between Musk and CEO Sam Altman.
Elon Musk leads a group of investors in a $97.4 billion offer to buy the nonprofit that oversees OpenAI. Musk's attorney states that the funds are intended exclusively to return OpenAI to its original open-source, safety-focused charitable mission. The consortium includes Musk's startup xAI and several of his long-time financial backers.
This unsolicited bid escalates the heated legal and public relations battle between Musk and OpenAI CEO Sam Altman. Altman quickly dismisses the offer on social media with a sarcastic counter-proposal to buy Twitter for a fraction of the price, prompting Musk to respond with insults. The two men originally co-founded OpenAI as a nonprofit in 2015 before having a major falling out.
The massive buyout attempt arrives while OpenAI navigates other major financial shifts, including a pending $40 billion investment from SoftBank. Musk is currently suing OpenAI to prevent it from converting into a for-profit corporation, though reports suggest xAI could potentially merge with OpenAI if this new acquisition deal succeeds.