WSJ: Musk-led Group Makes $97B Bid for Control of OpenAI

Tuesday, February 11, 2025

A consortium of investors led by billionaire Elon Musk is offering $97.4 billion to buy the nonprofit that controls artificial intelligence startup OpenAI, the Wall Street Journal reported on Monday.

Posted by lamplighter at 09:30 AM | 10 COMMENTS | permalink

Elon Musk just offered to buy OpenAI for $97.4 billion

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-- The Verge (@theverge.com) February 10, 2025 at 4:30 PM

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More from the article...

... The offer intensifies a longstanding battle between OpenAI CEO Sam Altman and Musk over the future of the startup at the heart of a boom in generative AI technology.

Musk's attorney, Marc Toberoff, said he submitted the bid to OpenAI's board on Monday, according to the report.

"It's time for OpenAI to return to the open-source, safety-focused force for good it once was," the WSJ cited Musk as saying in a statement provided by Toberoff. "We will make sure that happens."

OpenAI, Musk, Toberoff and OpenAI-backer Microsoft (MSFT.O) did not immediately respond to Reuters' requests for comment.
The bid is being backed by Musk's AI company xAI, which could merge with OpenAI following a deal, the WSJ reported. ...

#1 | Posted by LampLighter at 2025-02-10 04:20 PM

Musk is trying to sabotage OpenAI's transition into a for-profit entity.

What's Behind Elon Musk's Hostile Bid for Control of OpenAI
The tech mogul is unlikely to win. But his goal may be more about making life difficult for the A.I. start-up and its leader, Sam Altman.

Musk appears to be trying to force Altman into potentially paying more to transform OpenAI into a for-profit company. Billions are on the line. [...] Musk just set a floor price - in public. It also puts added pressure on any regulatory review. To gain approval, any deal Altman works out will have to be seen as equal to or better than Musk's offer.
www.nytimes.com