Elon Musk is leading a group of investors in offering to buy control of OpenAI for $97.4 billion, The Wall Street Journal reported on Monday.<\/p>\n
The bid is for the nonprofit that oversees the artificial intelligence startup, the Journal reported, adding that Musk\u2019s attorney, Marc Toberoff, said he submitted the offer on Monday.<\/p>\n
The WSJ cited a statement from Musk provided by Toberoff, saying, \u201cIt\u2019s time for OpenAI to return to the open-source, safety-focused force for good it once was.\u201d<\/p>\n
In a post on X, OpenAI CEO Sam Altman wrote, \u201cno thank you but we will buy twitter for $9.74 billion if you want.\u201d Musk then replied to the OpenAI chief on X calling him a \u201cswindler,\u201d and in a reply to a different user, called him \u201cScam Altman.\u201d<\/p>\n
Musk, who is a top adviser to President Donald Trump, is in the midst of a heated legal and public relations battle with Altman. They were two of the co-founders of OpenAI in 2015, establishing the entity as a nonprofit focused on AI research.<\/p>\n
OpenAI has since emerged as a giant in generative AI, launching ChatGPT in 2022 and setting off a wave of investment in new tools and infrastructure for next-generation AI products and services. SoftBank is close to finalizing a $40 billion investment in OpenAI at a $260 billion valuation, sources told CNBC\u2019s David Faber last week.<\/p>\n
Musk now has a competitor in the AI market, a startup called xAI, and is suing OpenAI, accusing it of antitrust violations and to try and keep it from converting into a for-profit corporation.<\/p>\n
Meanwhile, OpenAI partnered with SoftBank and Oracle in a project announced by Trump right after his inauguration called Stargate, which calls on the companies to invest billions of dollars in AI infrastructure in the U.S.<\/p>\n
Musk\u2019s offer is backed by xAI, which the Journal reports could merge with OpenAI if a deal were to occur. Other investors in the bid include Valor Equity Partners, Baron Capital, 8VC and Ari Emanuel\u2019s investment fund, the paper reported.<\/p>\n
Toberoff sent a letter to the attorneys general in California and Delaware on Jan. 7, asking that bidding be opened up for OpenAI.<\/p>\n<\/p>\n
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