By John Meyer, consultant in financial affairs – Eurasia Business News, February 11, 2025. Article No 1408.

Unsolicited bid by the tech billionaire could set a new value for the ChatGPT maker’s assets during its transformation to a for-profit company.

Elon Musk is leading a group of investors in a $97.4 billion bid to acquire OpenAI, a move that could complicate the company’s shift to a for-profit structure35. OpenAI CEO Sam Altman has publicly rejected the offer led by rival Elon Musk.

The Offer: A consortium of investors led by Elon Musk has made a $97.4 billion offer to acquire the nonprofit organization that controls OpenAI. The group includes Vy Capital, Musk’s AI venture Xai, and others.

Altman’s Rejection: Sam Altman dismissed the offer, affirming that OpenAI is “not for sale”. He responded to Musk on X, proposing to buy Twitter for $9.74 billion.

Musk’s Motives: Musk’s attorney stated that the bid aims to restore OpenAI to its original open-source, safety-focused mission. Altman, however, believes Musk is trying to impede a competitor.

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Background: Musk and Altman co-founded OpenAI in 2015 as a nonprofit, but Musk left in 2018 after a power struggle. He has since launched his own AI venture, xAI, and has been critical of OpenAI’s direction.

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OpenAI’s Stance: OpenAI defends its transition to a for-profit model as necessary for securing funding to develop AI systems. Altman has stated that OpenAI has a mission to ensure AGI benefits all humanity.

Implications: The unsolicited bid could set a new value for OpenAI’s assets as it transitions to a for-profit company. The nonprofit board will need to consider Musk’s offer, weighing the value of the company’s assets and the control of its technology.

Additional Ventures: OpenAI is reportedly collaborating with other entities to establish a $500 billion AI infrastructure project in the U.S., announced by president Trump.

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© Copyright 2025 – Eurasia Business News. Article no. 1408.