Elon Musk wants to buy OpenAI for $97.4 billion

Elon Musk has launched a $97.4 cardinal bid to instrumentality power of OpenAI. The Wall Street Journal reports a radical of investors led by Musk's xAI submitted an unsolicited connection to the company's committee of directors connected Monday. The radical wants to bargain the nonprofit that controls OpenAI's for-profit arm. 

When asked for comment, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. "No convey you but we volition bargain twitter for $9.74 cardinal if you want," Altman wrote connected the societal media level Musk owns.  

"It’s clip for OpenAI to instrumentality to the open-source, safety-focused unit for bully it erstwhile was," Musk said successful a connection his lawyer shared with The Journal. "We volition marque definite that happens."

OpenAI

It's hard to accidental however superior this bid from Musk is and what — if immoderate — accidental it has to succeed. OpenAI is not a accepted company, and the nonprofit structure Sam Altman and others astatine the institution privation it to get distant from whitethorn successful information support it from Musk's offer. Were OpenAI purely a for-profit institution with accepted shares Musk's bid would apt trigger what's known successful firm instrumentality arsenic a Revlon moment, where, nether definite circumstances, the company's committee of directors would beryllium forced to merchantability the institution to the highest bidder to maximize shareholder profits.  

Musk, arsenic you tin imagine, wasn't a instrumentality of Altman's joke, penning "Swindler" successful effect and aboriginal calling him "Scam Altman."   

This nonfiction primitively appeared connected Engadget astatine https://www.engadget.com/ai/elon-musk-wants-to-buy-openai-for-974-billion-215221105.html?src=rss