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Reading: The group led by Musk makes an offer of $ 97.4 billion for OPENAI control
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The group led by Musk makes an offer of $ 97.4 billion for OPENAI control

BARI
Last updated: February 12, 2025 8:55 am
BARI
Published February 12, 2025
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By Arsheeya Bajwa, Anna Tong and Krystal Hu

(Reuters) – A consortium led by Elon Musk said on Monday that he had offered $ 97.4 billion to buy the non -profit organization that controls Openai, another salvo in the billionaire’s fight to block the startup D ‘Artificial intelligence of the transition to a for -profit company.

Musk’s offer is expected to increase long -standing tensions with the CEO of Openai Sam Altman on the future of the Chatpt manufacturer at the heart of a Boom in AI generative technology. Altman Monday posted quickly on X: “No thanks but we will buy Twitter for $ 9.74 billion if you wish.”

Musk co -founded Openai with Altman in 2015 as a non -profit organization, but left before takeoff of society. He founded the startup of the competitor XAI in 2023.

Musk, CEO of Tesla and owner of Tech and social media company X, is a close ally of President Donald Trump. He spent more than a quarter of a billion dollars to help elect Trump and heads the government ministry, a new white house arm, responsible for radically reducing federal bureaucracy. Musk recently criticized a project led by Openai of $ 500 billion announced by Trump in the White House.

OPENAI is now trying to go to a profit from a non -profit entity, which says it is necessary to secure the capital necessary to develop the best models of AI.

Musk continued Altman and others in August from last year, saying that they had violated the contractual arrangements by putting profits before the public good in the thrust to advance AI. In November, he asked an American district judge a preliminary injunction preventing OPENAI from converting into a for -profit structure.

Musk’s trial against Openai and Altman said that the founders were originally approached to finance a non -profit organization focused on the development of AI for the benefit of humanity, but that it was now focused on getting money.

“It’s time for Openai to return to open source force and focusing for good,” Musk said in a statement on Monday. “We will make sure it happens.”

Altman told staff in a message that the company’s board of directors intends to specify that he was not interested in the “supposed submission” of Musk, according to an information report on Monday. He told Axios on Tuesday Openai was not for sale.

Musk and Openai Backer Microsoft did not immediately respond to requests for comments.

The consortium led by Musk includes its AI XAI startup, Baron Capital Group, Emanuel Capital and others.

XAI could merge with Openai following an agreement, according to the Wall Street Journal, which first pointed out Musk’s offer on Musk sooner. XAI recently raised $ 6 billion in investors to an evaluation of $ 40 billion, sources told Reuters.

‘Launch a key’

“This (offer) definitively throws a key into things,” said Jonathan Macey, a professor of the law faculty of Yale specializing in corporate governance.

“The non -profit organization is supposed to take money to do good deeds, and if Openai prefers to sell it to someone else for less money, it is a concern to protect the interests of beneficiaries of non -profit organization. “

Openai was estimated at $ 157 billion in its last round of funding, which constituted its status of one of the most precious private companies in the world. SoftBank Group is in talks to lead a financing cycle of up to $ 40 billion in Openai to an assessment of $ 300 billion, including the new funds, reported Reuters in January.

Aside from any antitrust involvement, an agreement of this size would need musk and its consortium to collect huge funds.

Musk’s actions in Tesla are evaluated at around $ 165 billion, according to LSEG data, but its lever effect with the banks is probably thin after its 44 billion x dollars, which was then called Twitter, in 2022.

To finance such an offer, Musk could sell part of its participation in Tesla or contract a loan against its participation, or use its participation in Rocket Company Spacex which is worth dozens of billions of dollars as guarantee, according to an investment banker No Involved, which requested anonymity.

“Musk’s offer to buy OPENAI non -profit should considerably complicate the current fundraising funds from Openai and the converting process into a for -lucrative company,” said Gil Luria, analyst at DA Davidson.

“The offer seems to be supported by more credible investors … OPENAI may not be able to ignore it. This will be the trustee of the OPENAI Board of Directors to decide whether it is A better offer, which could question SoftBank’s offer. “

(Report by Arsheeya Bajwa in Bengaluru, Anna Tong in San Francisco and Krystal Hu in New York; additional Priyanka G report in Bengaluru and Milana Vinn in New York; writing by Sayantani Ghosh; edition by David Gaffen, Matthew Lewis and Jamie Cread) ))

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