By Enyichukwu Enemanna
Tech mogul Elon Musk is leading a group of investors in a $97.4 billion bid to take control of OpenAI, the non-profit company behind ChatGPT, a move that has reignited tensions between Musk and OpenAI’s CEO, Sam Altman.
Recall that Musk co-founded OpenAI with Sam Altman in 2015 as a non-profit but left in 2019 when Altman took over as CEO.
Tensions between the two have since escalated into a legal dispute over the company’s transition into a for-profit entity under Altman’s leadership.
Musk, backed by his artificial intelligence company xAI and other investors, said he aims to restore OpenAI to its roots as an open-source, safety-focused company.
Altman is working to transform the company into a for-profit business. He is also focused on partnering with other AI leaders for Stargate, a new AI-driven initiative spearheaded by the Trump administration.
Altman took to Musk’s platform, X, to respond to the bid, saying, “No, thank you, but we’ll buy Twitter for $9.74 billion if you want,” referring to Musk’s $44 billion acquisition of the social media platform in 2022.
OpenAI has, in recent times, dominated the generative AI space, making significant technological advancements.
Musk has been vocal about his concerns with the company’s shift towards profitability. Last year, he filed a lawsuit claiming OpenAI violated its non-profit mission by generating revenue through a subsidiary.
The company has since partnered with Microsoft, one of its largest investors, to continue developing AI, and just last week, SoftBank announced at least a $15 billion investment into OpenAI.
As of October 2024, OpenAI is valued at $157 billion. However, with the new round of funding, that number could exceed $300 billion.
In January, Musk’s attorney called on the attorneys general in Delaware and California to open the bidding process for OpenAI..