NEWS ALERT: Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

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From the Wall Street Journal: A consortium of investors led by Elon Musk is offering $97.4 billion to buy the nonprofit that controls OpenAI, upping the stakes in his battle with Sam Altman over the company behind ChatGPT.

Musk’s attorney, Marc Toberoff, said he submitted a bid for all the nonprofit’s assets to OpenAI’s board of directors Monday.

The unsolicited offer adds a major complication to Altman’s carefully laid plans for OpenAI’s future, including converting it to a for-profit company and spending up to $500 billion on AI infrastructure through a joint venture called Stargate. He and Musk are already fighting in court over the direction of OpenAI.

“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Musk said in a statement provided by Toberoff. “We will make sure that happens.”

Responding to the news of the bid for his company, Altman retorted, “No thank you but we will buy twitter for $9.74 billion if you want.”

“Swindler,” Musk fired back.

Altman testified before Congress in May 2023 that he makes no money from OpenAI, but is simply “doing this because I love it.”

However, according to a Reuters report in September 2024, Altman will now profit from OpenAI. The company has been changed from a non-profit to a for-profit, and Altman new reportedly gets 7% of the profits.

Monday afternoon, Musk posted a video clip from the May 2023 hearing, and wrote, “Scam Altman.”

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