Elon Musk wants to buy OpenAI for $97.4 billion

Elon Musk has launched a $97.4 billion bid to take control of OpenAI. The Wall Street Journal reports a group of investors led by Musk's xAI submitted an unsolicited offer to the company's board of directors on Monday. The group wants to buy the nonprofit that controls OpenAI's for-profit arm. 

When asked for comment, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. "No thank you but we will buy twitter for $9.74 billion if you want," Altman wrote on the social media platform Musk owns.  

no thank you but we will buy twitter for $9.74 billion if you want

— Sam Altman (@sama) February 10, 2025

"It’s time for OpenAI to return to the open-source, safety-focused force for good it once was," Musk said in a statement his attorney shared with The Journal. "We will make sure that happens."

A flow chart detailing OpenAI's corporate structure
OpenAI

It's hard to say how serious this bid from Musk is and what — if any — chance it has to succeed. OpenAI is not a traditional company, and the nonprofit structure Sam Altman and others at the company want it to get away from may in fact protect it from Musk's offer. Were OpenAI purely a for-profit company with traditional shares Musk's bid would likely trigger what's known in corporate law as a Revlon moment, where, under certain circumstances, the company's board of directors would be forced to sell the company to the highest bidder to maximize shareholder profits.  

Musk, as you can imagine, wasn't a fan of Altman's joke, writing "Swindler" in response and later calling him "Scam Altman."   

This article originally appeared on Engadget at https://www.engadget.com/ai/elon-musk-wants-to-buy-openai-for-974-billion-215221105.html?src=rss https://www.engadget.com/ai/elon-musk-wants-to-buy-openai-for-974-billion-215221105.html?src=rss
Creată 1mo | 10 feb. 2025, 22:50:27


Autentifică-te pentru a adăuga comentarii

Alte posturi din acest grup

'47 Ronin' director charged with $11 million fraud over doomed Netflix sci-fi series

Carl Erik Rinsch, the director of 47 Ronin, has been charged for defrauding a streaming service out of $11 million, according to the

19 mar. 2025, 13:50:26 | Engadget
Tesla gets approval for ride-hailing business in California

While Tesla is a popular car for ride-hailing drivers employed by the likes of Uber and more, the company could soon cut out the middleman. The California Public Utilities Commission has approved t

19 mar. 2025, 13:50:25 | Engadget
Amazon Spring Sale deals include the Beats Fit Pro earbuds for $169

If you’ve been eyeing a pair of

19 mar. 2025, 13:50:24 | Engadget
Video game workers in North America now have an industry-wide union

There’s now an industry-wide union for video game workers in the US and Canada. The United Videogame Workers-CWA (UVW-CWA) has a mission to bring together "artists, writers, designers, QA testers,

19 mar. 2025, 13:50:23 | Engadget
This Dyson cordless vacuum and mop is more than $150 off for the Amazon Spring Sale

Say goodbye to ground-in dirt and stains and save money while you do it with the

19 mar. 2025, 13:50:22 | Engadget
iPhone 17 Pro, Max and Air: Everything we know about Apple's new phones

Apple announces updates to its smartphone lineup every autumn, but the company often has a hard time keeping the details under wraps. Ahead of the official unveiling of the iPhone 17, we've already

19 mar. 2025, 09:20:08 | Engadget