Elon Musk-Led Investors Offer $97.4 Billion to Buy OpenAI

Elon Musk is starring a radical of investors successful a imaginable $97.4 cardinal acquisition of the nonprofit that controls OpenAI, Wall Street Journal reports. Musk is looking to get power of the AI powerhouse from Sam Altman, adding vigor to their rivalry surrounding OpenAI’s ChatGPT. Elon Musk’s attorney, Marc Toberoff, said helium submitted the bid to OpenAI’s committee of directors Monday.

JUST IN: Elon Musk-led radical offers $97.4 cardinal to bargain the nonprofit controlling OpenAI, WSJ reports.

OpenAI CEO Sam Altman was antecedently looking to transform the institution into a for-profit aft returning to his station precocious past year. However, the unsolicited connection throws a wrench successful those plans. Since the 2 co-founded OpenAI successful 2015, Musk and Altman person gone backmost and distant implicit the company’s future. Musk has gone arsenic acold arsenic to prohibition OpenAI and ChatGPT from devices wrong the office of his companies. Additionally, the Tesla founder’s xAI project is simply a nonstop rival to OpenAI that is already climbing successful valuation compared to the latter.

The Battle for OpenAI Rages connected Between Elon Musk and Sam Altman

Source: Fortune

Further, Musk has filed a bid of ineligible complaints accusing OpenAI of betraying its archetypal nonprofit ngo by creating a for-profit limb and colluding with its largest investor, Microsoft, to predominate the improvement of AI. The institution and Musk person been battling successful tribunal for respective years now, with the second looking to disregard the “abusive” suit betwixt the 2 successful 2024.

“It’s clip for OpenAI to instrumentality to the open-source, safety-focused unit for bully it erstwhile was,” Musk said successful a connection provided by Toberoff. “We volition marque definite that happens.” Toberoff besides added that the Musk-led concern radical is looking to spell all-in connected this acquisition and not look rival funny parties. “If Sam Altman and the contiguous OpenAI Inc. Board of Directors are intent connected becoming a afloat for-profit corporation, it is captious that the foundation beryllium reasonably compensated for what its enactment is taking distant from it: power implicit the astir transformative exertion of our time,” helium said.

Also Read: Nvidia Vs. OpenAI: What To Expect From NVDA arsenic Competition Heats Up

OpenAI presently sits astatine conscionable implicit $100 cardinal and is successful talks with Microsoft to motorboat a caller institution that could up its worth to astir triple that. The ChatGPT developer has yet to contented a connection connected Musk’s bid oregon a imaginable sale. Other competitors looking to acquisition OpenAI are besides unknown.