Elon Musk-led group makes 97bn dollars bid for control of OpenAI
- A consortium led by Elon Musk said on Monday it has offered $97.4 billion to buy the nonprofit that controls OpenAI, another salvo in the billionaire's fight to block the artificial intelligence startup from transitioning to a for-profit firm.
Musk, the CEO of Tesla and owner of tech and social media company X, is a close ally of President Donald Trump. He spent more than a quarter of a billion dollars to help elect Trump, and leads the Department of Government Efficiency, a new arm of the White House tasked with radically shrinking the federal bureaucracy. Musk recently criticized a $500 billion OpenAI-led project announced by Trump at the White House.
"It's time for OpenAI to return to the open-source, safety-focused force for good it once was," Musk said in a statement on Monday. "We will make sure that happens.""Musk's bid puts another wrinkle into OpenAI's quest to remove the nonprofit's control over its for-profit entity," said Rose Chan Loui, executive director of the UCLA Law Center for Philanthropy and Nonprofits.
XAI could merge with OpenAI following a deal, according to the Wall Street Journal which first reported Musk's offer earlier on Monday. XAI recently raised $6 billion from investors at a valuation of $40 billion, sources have told Reuters."This is definitely throwing a wrench in things," said Jonathan Macey, a Yale Law School professor specializing in corporate governance.
Aside from any antitrust implications, a deal this size would need Musk and his consortium to raise enormous funds.
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