Elon Musk has launched a $97.4 billion bid to take management of OpenAI. The Wall Street Journal studies a gaggle of traders 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’ll purchase twitter for $9.74 billion if you’d like,” Altman wrote on the social media platform Musk owns.
no thanks however we’ll purchase twitter for $9.74 billion if you’d 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 mentioned in an announcement his legal professional shared with The Journal. “We’ll guarantee that occurs.”
It is exhausting to say how critical this bid from Musk is and what — if any — likelihood it has to succeed. OpenAI will not be a standard firm, and the nonprofit structure Sam Altman and others on the firm need it to get away from might in actual fact 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 regulation as a Revlon second, the place, beneath sure circumstances, the corporate’s board of administrators can be pressured to promote the corporate to the best bidder to maximise shareholder earnings.
Musk, as you possibly can 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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