Catenaa, Tuesday, February 11, 2025-Elon Musk and a group of investors have submitted a $97.4 billion bid to acquire OpenAI’s controlling nonprofit entity, intensifying the ongoing dispute between Musk and OpenAI CEO Sam Altman, The Wall Street Journal reported Monday.1
Altman swiftly dismissed the offer with a post on X, formerly Twitter, saying, “No thank you, but we will buy Twitter for $9.74 billion if you want.”
Musk, a co-founder of OpenAI, left the organization in 2019 and has since criticized its shift toward a for-profit model. He argues that the company’s focus on revenue generation undermines its original mission of advancing AI for humanity’s benefit.
His AI firm, xAI, is spearheading the bid with backing from Valor Equity Partners, 8VC, and Hollywood executive Ari Emanuel.
Under Altman’s leadership, OpenAI has aggressively pursued funding, announcing a $500 billion investment in AI infrastructure through its joint venture, Stargate.
Musk’s acquisition attempt introduces uncertainty over OpenAI’s future, potentially impacting its business alliances. The move is widely seen as an effort to redirect the company back to its founding principles of transparency and responsible AI development.
