Elon Musk bids $97.4 billion to acquire OpenAI
Elon Musk has reportedly submitted a $97.4 billion offer to take control of OpenAI's nonprofit division, according to The Wall Street Journal.
The bid, placed on Monday, comes as OpenAI transitions into a for-profit entity—a move Musk argues contradicts its original mission of developing AI in a safe and transparent manner.
Musk's offer is backed by his AI company xAI, investment firms Valor Equity Partners and 8VC, along with Hollywood executive Ari Emanuel. The group directly approached OpenAI’s board, pledging to match or exceed any competing bids, according to the report.
Musk, who co-founded OpenAI with Sam Altman in 2015 before departing in 2019, stated through his attorney Marc Toberoff that OpenAI should revert to an open-source, safety-focused organization.
Altman dismissed the proposal in a post on X (formerly Twitter), replying, "No thank you, but we will buy Twitter for $9.74 billion if you want."
As OpenAI moves towards a for-profit structure, it is raising funds for AI development, including a $40 billion funding round and a $500 billion infrastructure initiative linked to former President Donald Trump. Musk, who has associations with Trump, criticized the plan as "reckless," according to the report.
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