Elon Musk vs. OpenAI
Elon Musk made a $97 billion bid to acquire OpenAI, the company he co-founded with Sam Altman and exited completely in 2018. Altman rejected the offer(first in a tweet – ironically raising on X a counterproposal to buy Musk’s platform for around $10 billion) and then in through official channels.
Musk had stated that he would withdraw the offer if the process of transforming OpenAI from a non-profit to a for-profit is stopped. In the meantime, he is lobbying the authorities in California (where he is based) and Delaware (where he has his legal residence) and has initiated legal action.
Musk’s offer complicates the plans of OpenAI, which just these days is closing a $40 billion financing deal with SoftBank, with a valuation of $300 billion (three times the amount proposed by Musk).
- Why it matters: OpenAI ‘s transformation from a non-profit to a for-profit organisation is a huge change for the entire AI sector. The company, now the most advanced in the field, was born with the goal of developing general artificial intelligence that neither harms humanity nor concentrates power in the hands of a few (hence the initial choice of a non-profit model).
Source: Technicismi
In addition to the headlines of the Magnificent Seven – among which are Tesla but also Amazon – it will be interesting to follow the evolution of other listed and unlisted companies.
