"Swindler" - Musk leads blockbuster bid to buy OpenAI for $97.4bn, but Sam Altman hits back with own bid for X

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Elon Musk and other investors offer to buy OpenAI for $97.4 billion
OpenAI CEO Sam Altman hits back with $9.74 billion X valuation
Others have criticized OpenAI’s plans

A group of investors led by Elon Musk has offered $97.4 billion to buy OpenAI’s nonprofit arm - but OpenAI CEO Sam Altman to hit back with a sarcastic bid offer to buy X.

Musk’s lawyer, Mac Toberoff, confirmed he submitted the bid to OpenAI’s board yesterday (via Wall Street Journal), further complicating the relationship between Musk and Altman.

The pressure adds to the already ongoing battle between the two, with Musk accusing OpenAI of betraying its nonprofit mission and partnering up with Microsoft.

Musk offers to buy OpenAI

Altman has set out plans to convert the business into a for-profit operation while splitting a $500 billion investment with the likes of Oracle and Softbank to improve AI infrastructure – something that Musk says neither OpenAI or Project Stargate’s backers can afford to do.

Meta has also complained, in the form of a letter to California’s attorney general, about the for-profit business plans.

“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Musk said in a statement provided by Toberoff.

Altman hastened to share with colleagues on an internal Slack channel: “Our structure ensures that no individual can take control of OpenAI…These are tactics to try and weaken us because we are making great progress.”

The OpenAI CEO also took to X, the Musk-owned social media platform, to post: “no thank you but we will buy twitter for $9.74 billion if you want.” Must replied with “Swindler,” and called his rival “Scam Altman” in another post.

It’s yet to be observed how the negotiations play out, but a possible OpenAI-xAI merger could be on the cards if the bid succeeds – an event that Altman deems highly unlikely.

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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!