sponsorship Offer

The offer made by Musk has the potential to intensify the existing conflicts with OpenAI CEO Sam Altman concerning the future trajectory of the company.

Elon Musk is leading a consortium that has put forth a $97.4 billion offer to purchase the nonprofit entity that governs OpenAI. This development follows Musk's recent lawsuit aimed at halting the startup's transition to a for-profit organization. Announced on Monday, the bid is likely to escalate the existing tensions between Musk and Sam Altman, the CEO of OpenAI, concerning the future trajectory of the company at the forefront of generative AI innovation.

Altman quickly shared on X: “We appreciate the offer, but we are prepared to acquire Twitter for $9.74 billion if that interests you.”

The two parties are currently engaged in an ongoing legal dispute. Musk has criticized a $500 billion initiative led by OpenAI, named Stargate, which was announced with significant publicity at the White House shortly after Donald Trump resumed the presidency, questioning the financial backing of the investors involved.

“It is essential for OpenAI to revert to being the open-source, safety-oriented organization it once was,” Musk stated in the press release. “We will ensure that this occurs.”

OpenAI, Musk, Musk’s attorney Marc Toberoff, and OpenAI supporter Microsoft did not respond promptly to inquiries from Reuters.

Musk's AI venture, xAI, is reportedly supporting the bid, which may lead to a merger with OpenAI, as first disclosed by The Wall Street Journal earlier on Monday.

Regardless of any antitrust concerns, a transaction of this magnitude would require Musk and his consortium to secure substantial financing.

In its most recent funding round in October, OpenAI was valued at $157 billion, solidifying its position as one of the most valuable private enterprises globally. According to a report by Reuters in January, SoftBank Group is negotiating to spearhead a funding round of up to $40 billion for OpenAI, aiming for a valuation of $300 billion, inclusive of the new capital.

Musk co-founded OpenAI alongside Altman in 2015 but departed before the organization gained significant traction. In 2023, he established the rival AI company, xAI.

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