Elon Musk is leading a group of investors in a potential $97.4 billion purchase of the nonprofit that controls OpenAI, Wall Street Journal reports. Musk is looking to acquire control of the AI powerhouse from Sam Altman, adding heat to their rivalry surrounding OpenAI’s ChatGPT. Elon Musk’s attorney, Marc Toberoff, said he submitted the bid to OpenAI’s board of directors Monday.
JUST IN: Elon Musk-led group offers $97.4 billion to buy the nonprofit controlling OpenAI, WSJ reports.
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OpenAI CEO Sam Altman was previously looking to transform the company into a for-profit after returning to his post late last year. However, the unsolicited offer throws a wrench in those plans. Since the two co-founded OpenAI in 2015, Musk and Altman have gone back and forth over the company’s future. Musk has gone as far as to ban OpenAI and ChatGPT from devices within the headquarters of his companies. Additionally, the Tesla founder’s xAI project is a direct competitor to OpenAI that is already climbing in valuation compared to the latter.
The Battle for OpenAI Rages on Between Elon Musk and Sam Altman
Further, Musk has filed a series of legal complaints accusing OpenAI of betraying its original nonprofit mission by creating a for-profit arm and colluding with its largest investor, Microsoft, to dominate the development of AI. The company and Musk have been battling in court for several years now, with the latter looking to dismiss the “abusive” lawsuit between the two in 2024.
“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Musk said in a statement provided by Toberoff. “We will make sure that happens.” Toberoff also added that the Musk-led investment group is looking to go all-in on this purchase and not face rival interested parties. “If Sam Altman and the present OpenAI Inc. Board of Directors are intent on becoming a fully for-profit corporation, it is vital that the charity be fairly compensated for what its leadership is taking away from it: control over the most transformative technology of our time,” he said.
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OpenAI currently sits at just over $100 billion and is in talks with Microsoft to launch a new company that could up its value to nearly triple that. The ChatGPT developer has yet to issue a statement on Musk’s bid or a potential sale. Other competitors looking to purchase OpenAI are also unknown.