A group led by Tesla co-Founder and CEO Elon Musk has reportedly made a bid for Artificial Intelligence (AI) giant OpenAI. As reported by the Wall Street Journal (WSJ), the group is offering $97.4 billion for complete control of the ChatGPT maker.
According to the Wall Street Journal report, Marc Toberoff, the lawyer representing Elon Musk has submitted the bid to the OpenAI board. The goal of the $97.4 billion offer is to return the non-profit controlling OpenAI to its roots. This include its reset to operate as an “open-source, safety-focused force for good.”
OpenAI CEO Responds To Elon Musk
As the WSJ report made the headlines, Sam Altman has responded to Elon Musk via the latter’s X platform. In his post, Sam Altman said, “no thank you but we will buy twitter for $9.74 billion if you want. While it remains unclear what basis the OpenAI CEO employed to value X, it is clear he is not receptive to the offer.
Notably, the $97.4 billion bid is a smaller amount compared to a projected valuation of $340 billion for OpenAI. While it remains uncertain how the board will react to the bid, if approved, it will mark the major acquisition led by Elon Musk since the $44 billion acquisition of X, formerly Twitter Inc.
The Elon Musk-led group bid has triggered growing conversation on X, refocusing the spotlight on AI-based innovations.