Elon Musk is spearheading a consortium of investors in a staggering $97.4 billion proposal to acquire OpenAI, the entity behind ChatGPT.
Responding via social media, OpenAI CEO Sam Altman remarked, “[N]o thank you but we will acquire Twitter for $9.74 billion if you’re interested,” alluding to the social media platform Musk purchased for $44 billion in 2022.
The Wall Street Journal was the first to report on Musk’s intention to acquire ChatGPT.
This offer surfaces amidst ongoing disagreements between Musk and Altman regarding the future direction of OpenAI, which Musk co-founded in 2015. As the wealthiest individual globally, with a net worth exceeding $400 billion, Musk filed a lawsuit against Altman and OpenAI last year, claiming that the AI organization strayed from its original mission to serve the public good, among other allegations.
The acquisition proposal coincides with OpenAI’s efforts to transition into a for-profit entity, a move that the company believes will aid its goal of ensuring that the technology “benefits all of humanity,” as stated on its website. OpenAI has also partnered with Microsoft, which has invested billions in the company and incorporated OpenAI’s GPT-4 technology into its software solutions.
“At x.AI, we uphold the principles I was assured OpenAI would embrace. We have made Grok open source and honor the rights of content creators,” Musk expressed in the announcement, referring to the AI application developed by x.AI. “It’s time for OpenAI to revert to being the open-source, safety-centered organization for good that it once was. We will ensure that this occurs.”
The consortium of investors comprises Musk’s x.AI Corp.; Baron Capital Group; Valor Management; Altreides Management; Vy Fund III; Emanuel Capital Management; and Eight Partners VC, as stated by Marc Toberoff, the attorney representing the investors.
The funds from the $97.4 billion offer would be “utilized solely to advance OpenAI, Inc.’s initial charitable mission,” according to the investor group.
