ELON MUSK MAKES $97.4 BILLION BID FOR COMPANY OPENAI – The bid was swiftly rejected by Altman
Elon Musk is spearheading a $97 billion (£80bn) bid to take over OpenAI, the company behind ChatGPT, in an escalating feud with its CEO, Sam Altman.
A group led by the Tesla CEO submitted an offer to OpenAI’s board yesterday, according to Musk’s lawyer. Musk stated his intent to restore OpenAI to its original mission of being an open-source, safety-focused organization. However, the bid was swiftly rejected by Altman.
Musk co-founded OpenAI alongside Altman, originally intending to keep its technology open-source. Their relationship deteriorated after OpenAI shifted to a for-profit model, securing $13 billion in funding from Microsoft. Musk has since accused OpenAI of becoming a “maximum-profit company effectively controlled by Microsoft.”
Once an open-source research lab, OpenAI now operates as a for-profit entity under a non-profit parent company. The bid comes as Altman seeks further investment while moving OpenAI toward a more commercialized model.
