Musk-led group makes $97.4bn bid for ChatGPT maker OpenAI ...
A consortium of investors led by Elon Musk has made a staggering offer of $97.4 billion to acquire OpenAI, the creator of ChatGPT. This bid, which was submitted by Musk's attorney Marc Toberoff on Monday, aims to acquire "all assets" of the tech company.
Background of the Bid
This bid marks the latest development in the ongoing saga involving Musk, the world's wealthiest individual and a close associate of former US President Donald Trump, and Sam Altman, the CEO of OpenAI. The dispute revolves around the future direction of the start-up, which has been a key player in the AI industry.
Transition to For-Profit Entity
Musk and Altman co-founded OpenAI as a non-profit organization in 2015. However, their relationship soured after Musk left the company in 2018. Altman is now steering OpenAI towards becoming a for-profit entity, a move that Musk opposes, arguing that it deviates from the company's original mission of leveraging AI for the betterment of humanity.
Support for the Bid
Musk's bid to acquire OpenAI is supported by xAI, his AI company, as well as private equity firms like Baron Capital Group and Valor Management. In a statement, Musk expressed his vision for OpenAI to return to its roots as an open-source, safety-focused entity dedicated to societal good.
The Stargate Project
Separately, the creator of ChatGPT is collaborating with Oracle, a US tech giant, a Japanese investment firm, and an Emirati wealth fund to establish a $500 billion AI infrastructure initiative in the US. Dubbed The Stargate Project, this endeavor was endorsed by President Trump as a landmark AI infrastructure venture.
Despite his advisory role in the Trump administration, Musk has cast doubts on the project's funding commitments, hinting at discrepancies between pledged amounts and actual available capital.
