Elon Musk has launched a $97.4 billion bid to take management of OpenAI. The Wall Street Journal stories a gaggle of traders led by Musk’s xAI submitted an unsolicited supply to the corporate’s board of administrators on Monday. The group desires 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’ll purchase twitter for $9.74 billion if you would like,” Altman wrote on the social media platform Musk owns.
no thanks however we’ll purchase twitter for $9.74 billion if you would like
— Sam Altman (@sama) February 10, 2025
“It’s time for OpenAI to return to the open-source, safety-focused power for good it as soon as was,” Musk stated in an announcement his lawyer shared with The Journal. “We are going to ensure that occurs.”
It is arduous to say how critical 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 in truth defend it from Musk’s supply. Had been OpenAI purely a for-profit firm with conventional shares Musk’s bid would seemingly set off what’s identified in company legislation as a Revlon second, the place, underneath sure circumstances, the corporate’s board of administrators can be pressured to promote the corporate to the best bidder to maximise shareholder earnings.
Musk, as you may 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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