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How Musk’s $97.4B bid could gum up OpenAI’s for-profit conversion

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On Monday, Elon Musk, the world’s richest man, offered to buy the nonprofit that effectively governs OpenAI for $97.4 billion. The unsolicited buyout would be financed by Musk’s AI company, xAI, and a consortium of outside investors, per a letter sent to California and Delaware’s attorneys general.

OpenAI CEO Sam Altman quickly dismissed Musk’s bid, and took it as a chance to publicly dunk on him.

“no thank you, but we will buy Twitter for $9.74 billion if you want,” Altman wrote in a post on X just hours after reports emerged of Musk’s offer for OpenAI. Musk owns X, the social network formerly known as Twitter; he paid roughly $44 billion for it in October 2022. 

The two have a history. Musk is an OpenAI co-founder, and both he and xAI are currently involved in a lawsuit that alleges that OpenAI engaged in anticompetitive behavior, among other things.

Read More on: TechCrunch

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Andrew Sabastian is a tech whiz who is obsessed with everything technology. Basically, he's a software and tech mastermind who likes to feed readers gritty tech news to keep their techie intellects nourished.
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