Elon Musk's $97.4 Billion Bid to Buy OpenAI
Tech entrepreneur Elon Musk has recently announced a staggering $97.4 billion bid to acquire OpenAI, the organization behind ChatGPT.
The Bid
On Monday (10 February), Musk revealed his intention, along with a group of investors, to purchase OpenAI for $97.4 billion (£78.7 billion). OpenAI, an artificial intelligence research group, was co-founded by Musk in 2015, alongside current CEO Sam Altman.
The company gained significant attention with the launch of ChatGPT in 2022. Although OpenAI was initially established as a non-profit venture, it is currently in the process of transitioning into a for-profit entity, with Musk now looking to acquire it.
Legal Disputes
Musk's bid comes amidst ongoing legal disputes surrounding the future direction of OpenAI. Musk has expressed his disagreement with the shift away from being a non-profit organization.
In a statement regarding his bid, Musk emphasized the importance of OpenAI returning to its roots as an open-source, safety-focused entity for societal good.
There appears to be tension between Musk and Altman, with Altman publicly rejecting the unsolicited offer and even making a counteroffer of buying Twitter for $9.74 billion. Musk swiftly responded to Altman's proposal with a dismissive remark.
Current Endeavors
While focusing on the potential acquisition of OpenAI, Musk continues to be involved in other ventures. Notably, he oversees the controversial government department, DOGE.
Despite challenges faced by the social media platform X, which Musk acquired in 2022, OpenAI's value is on the rise. The company is now valued at $157 billion and is poised to become one of the most valuable entities globally.
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