Elon Musk needs to purchase OpenAI for $97.4 billion

Elon Musk has launched a $97.4 billion bid to take management of OpenAI. The Wall Street Journal experiences a gaggle of buyers led by Musk’s xAI submitted an unsolicited supply to the corporate’s board of administrators on Monday. The group needs to purchase the nonprofit that controls OpenAI’s for-profit arm.

When requested for remark, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. “No thanks however we are going to purchase twitter for $9.74 billion if you would like,” Altman wrote on the social media platform Musk owns.

no thanks however we are going to purchase twitter for $9.74 billion if you would like

— Sam Altman (@sama) February 10, 2025

“It’s time for OpenAI to return to the open-source, safety-focused drive for good it as soon as was,” Musk stated in a press release his legal professional shared with The Journal. “We’ll make it possible for occurs.”

OpenAI

It is arduous to say how severe this bid from Musk is and what — if any — likelihood it has to succeed. OpenAI shouldn’t be a conventional firm, and the nonprofit structure Sam Altman and others on the firm need it to get away from could the truth is defend it from Musk’s supply. Have been OpenAI purely a for-profit firm with conventional shares Musk’s bid would seemingly set off what’s recognized in company legislation as a Revlon second, the place, below sure circumstances, the corporate’s board of administrators could be pressured to promote the corporate to the best bidder to maximise shareholder earnings.

Musk, as you’ll be able to think about, wasn’t a fan of Altman’s joke, writing “Swindler” in response and later calling him “Rip-off Altman.”

This text initially appeared on Engadget at https://www.engadget.com/ai/elon-musk-wants-to-buy-openai-for-974-billion-215221105.html?src=rss

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