A group of investors led by Elon Musk has made a $97.4 billion bid to buy the nonprofit controlling OpenAI, in a bid to escalate a years-long tussle for control of the company between Musk and OpenAI’s CEO, Sam Altman. The consortium, which includes Vy Capital and Xai, Musk’s artificial intelligence company, as well as Hollywood power-broker Ari Emanuel and other investors, made the offer. OpenAI declined to comment on the bid, but Mr. Altman posted a response on social media suggesting he would rather buy Twitter for $9.74 billion.
Mr. Musk, one of OpenAI’s co-founders and initial investors, left after a power struggle and created his own A.I. company to compete with Altman’s. The unsolicited bid came as OpenAI was finalizing a $40 billion fundraising deal that would significantly increase its valuation to $300 billion, making it one of the most valuable private companies globally. SoftBank was set to invest up to $40 billion in OpenAI, with other investors contributing to the total funds.
The bid has sparked controversy and speculation in the tech and investment world, with the future of OpenAI and its leadership uncertain. The company, known for its cutting-edge work in artificial intelligence, has been at the center of legal battles as well, including a lawsuit filed by the New York Times alleging copyright infringement related to A.I. systems developed by OpenAI and Microsoft. Stay tuned for updates on this developing story.
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