Elon Musk’s Bold $97 Billion Bid to Take Over OpenAI Sparks AI Industry Shockwaves!
🚀 Musk’s Consortium Offers $97.4 Billion to Acquire OpenAI
Elon Musk and a group of investors have made a stunning $97.4 billion offer to acquire OpenAI, the organization behind ChatGPT. This move is Musk’s latest attempt to block OpenAI’s shift to a for-profit model and return it to its original mission of open-source AI for public good.
🤯 Sam Altman Rejects Musk’s Offer with a Bold Response
OpenAI CEO Sam Altman quickly dismissed Musk’s offer, stating that “OpenAI is not for sale.” In a playful jab, Altman posted on X (formerly Twitter):
“No thank you, but we will buy Twitter for $9.74 billion if you want.”
⚖ Musk’s Legal Battle with OpenAI Intensifies
This bid comes amid a heated legal battle between Musk and OpenAI. In August 2024, Musk sued Altman and OpenAI, accusing them of prioritizing profit over public good. A U.S. judge recently ruled that parts of Musk’s lawsuit may proceed to trial, increasing tensions between the two tech leaders.
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🏦 Is Musk’s Offer Even Feasible? Financial Analysts Weigh In
Musk, whose Tesla stock is valued at $165 billion, might need to sell Tesla shares, take a bank loan, or use SpaceX stock as collateral to finance this massive acquisition. However, with OpenAI’s last valuation at $157 billion and a potential new funding round at $300 billion, experts doubt Musk’s ability to outbid other investors.
🎭 What’s Next? OpenAI’s Future in Question
With Musk’s aggressive bid, OpenAI’s transition to a for-profit model could face unexpected hurdles. Analysts believe OpenAI’s board must evaluate the offer, even though SoftBank and other firms are already in talks to invest up to $40 billion at a much higher valuation.
🔗 Source: Reuters
