- Elon Musk is leading a $97.4 billion bid to take control of OpenAI. He’s calling for OpenAI to refocus on safety and openness, countering CEO Sam Altman’s vision for growth through partnerships.
- Musk’s bid is supported by his AI company, xAI, along with other investors.
- OpenAI is valued at $157 billion as of October 2024, with new investments potentially pushing it beyond $300 billion.
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Tech mogul Elon Musk is leading a group of investors in a $97.4 billion bid to take control of OpenAI, the nonprofit company behind ChatGPT. The move has reignited tensions between Musk and OpenAI’s CEO, Sam Altman.
Musk, backed by his artificial intelligence company xAI and other investors, said he aims to restore OpenAI to its roots as an open-source, safety-focused company.
Altman’s vision for OpenAI’s future
Altman is working to transform the company into a for-profit business. He is also focused on partnering with other AI leaders for Stargate, a new AI-driven initiative spearheaded by the Trump administration.
Altman took to Musk’s platform, X, to respond to the bid, saying, “No thank you, but we’ll buy Twitter for $9.74 billion if you want,” referring to Musk’s $44 billion acquisition of the social media platform in 2022.
OpenAI’s growth and start
Altman and Musk’s relationship dates back to 2015 when they co-founded OpenAI as a nonprofit organization. Musk left the company in 2019, and Altman took over as CEO. Since then, OpenAI has dominated the generative AI space, making significant technological advancements.
However, Musk has been vocal about his concerns with the company’s shift toward profitability. Last year, he filed a lawsuit claiming OpenAI violated its nonprofit mission by generating revenue through a subsidiary. The company has since partnered with Microsoft, one of its largest investors, to continue developing AI, and just last week, SoftBank announced at least a $15 billion investment into OpenAI.
As of October 2024, OpenAI is valued at $157 billion. However, with the new round of funding, that number could exceed $300 billion.
In January, Musk’s attorney called on the attorneys general in Delaware and California to open the bidding process for OpenAI.
