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Elon Musk-led Group Offers $97.4 Billion to Buy OpenAI

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Elon Musk-led Group Offers $97.4 Billion to Buy OpenAI

Key Points:

  • Elon Musk-led group has offered to acquire control of OpenAI to restore its open-source mission.
  • OpenAI CEO Sam Altman dismissed the offer, responding sarcastically on X, while Musk’s lawsuit claims OpenAI has shifted focus from public good to profit.

Elon Musk-led group is in a bid to acquire control of OpenAI for $97.4 billion, according to reports. The offer targets the nonprofit overseeing the artificial intelligence company behind ChatGPT.

Read more: Elon Musk’s DOGE Is Now Holding Evidence of US Treasury Fraud  

Elon Musk-led Group Offers $97.4 Billion Bid to Take Over OpenAI

The Elon Musk-led group includes his AI startup xAI, Baron Capital Group, Valor Management, Atreides Management, Vy Capital, Joe Lonsdale’s 8VC, and an investment entity led by Endeavor CEO Ari Emanuel.

Musk’s attempt to gain control of OpenAI intensifies ongoing tensions with CEO Sam Altman. Shortly after news of the bid emerged, Altman responded on X, saying, “No thank you, but we will buy Twitter for $9.74 billion if you want.”

Legal Battle Over OpenAI’s Shift to For-Profit Model

The Tesla CEO co-founded OpenAI alongside Altman in 2015 as a nonprofit but later departed. In 2023, he launched xAI, a competing AI startup. OpenAI is currently in the process of transitioning into a for-profit entity, arguing that such a move is necessary to secure funding for advanced AI development.

Musk has been openly critical of OpenAI’s direction, previously filing a lawsuit against Altman and other company leaders in August last year. He accused them of prioritizing profit over public benefit, claiming that OpenAI had strayed from its original nonprofit mission. In November, he sought a preliminary injunction to prevent the company from restructuring into a for-profit model.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Avatar of John Kojo Kumi

John Kojo Kumi

11 February 2025, 03:05:09 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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