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General Category => The AI (SkyNet becomes SELF-AWARE) subboard => WAPO Articles and Stories => Topic started by: droidrage on February 11, 2025, 12:33:45 AM
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Elon Musk-led group launches $97 billion bid for ChatGPT-maker OpenAI
OpenAI CEO Sam Altman shot down the offer in a post on X. Musk has been fighting the company in court to try to stop its transition into a for-profit entity.
https://www.washingtonpost.com/technology/2025/02/10/elon-musk-openai-bid-valuation/
SAN FRANCISCO — Elon Musk and a group of investors offered to buy ChatGPT-maker OpenAI for $97.4 billion on Monday, a sum far below the artificial intelligence company’s most recent valuation of $157 billion.
OpenAI chief executive Sam Altman immediately shot down the offer in a post on X. “No thank you but we will buy twitter for $9.74 billion if you want,” he wrote, referring to the former name of Musk’s social media company that he bought for $44 billion in 2022.
The offer, which Musk’s lawyer Marc Toberoff said in an email was sent to OpenAI’s board on Monday, is a major escalation of Musk’s battle with the AI company that he helped to found and fund in 2015.
Musk parted ways with the project in 2018 after other leaders of OpenAI rejected his suggestion that he take over the company.
Musk has been suing OpenAI for the past year, alleging that recent moves by the company that was originally founded as a nonprofit to restructure as a for-profit entity breach its original mission of benefiting humanity with AI technology. The consortium of investors joining Musk in making the offer includes his own AI company, xAI, as well as asset manager Baron Capital Group and venture capital firm Eight Partners.
A spokesperson for OpenAI did not immediately return a request for comment.
OpenAI was valued at $157 billion by its venture capital investors when they closed a $6.6 billion round of new investment in October. The Wall Street Journal earlier reported the offer to acquire the company.