Elon Musk has launched a $97.4 billion bid to take management of OpenAI. The Wall Street Journal reviews a bunch of buyers led by Musk’s xAI submitted an unsolicited provide 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’d 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’d like
— Sam Altman (@sama) February 10, 2025
“It’s time for OpenAI to return to the open-source, safety-focused pressure for good it as soon as was,” Musk mentioned in an announcement his legal professional shared with The Journal. “We’ll be sure that occurs.”
It is exhausting to say how severe this bid from Musk is and what — if any — likelihood it has to succeed. OpenAI is just not a conventional firm, and the nonprofit structure Sam Altman and others on the firm need it to get away from could the truth is shield it from Musk’s provide. Have been OpenAI purely a for-profit firm with conventional shares Musk’s bid would probably set off what’s recognized in company regulation as a Revlon second, the place, underneath sure circumstances, the corporate’s board of administrators could be compelled to promote the corporate to the very 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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