Elon Musk wants to buy OpenAI for $97.4 billion

Elon Musk and a group of investors have proposed purchasing OpenAI for $97.4 billion, according to The Wall Street Journal. This bid targets the assets of the nonprofit organization that oversees the company responsible for ChatGPT. Notably, OpenAI is currently working on a fundraising campaign that aims to double its valuation.

Elon Musk wants to buy OpenAI for $97.4 billion

The New York Times described the situation as an escalation of a “yearslong, deeply personal tussle for the future of AI” between Elon Musk and Sam Altman, OpenAI’s chief executive. In fact, they were both founders of OpenAI, but now the board of directors is closely aligned with Altman, added NYT.

Mr. Altman even snapped back at his former partner, posting on X: “No thank you but we will buy twitter for $9.74 billion if you want”, clearly mocking the issues with the social media since Musk acquired it. Mr. Musk replied “Swindler.”

According to a source close to the situation, OpenAI has not reviewed the bid. This proposal came from a consortium that features Vy Capital and Xai, which is Musk’s AI company, whereas OpenAI chooses to focus on fundraising efforts.

SoftBank, the Japanese conglomerate, spearheaded the latest funding round, valuing OpenAI at $300 billion. This positions OpenAI among the world’s most valuable private companies, alongside Musk’s SpaceX and ByteDance, the parent company of TikTok.

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