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Elon Musk wants to buy OpenAI for $97.4 billion

Elon Musk has launched a $97.4 billion bid to take control of OpenAI. The Wall Street Journal reports a group of investors led by Musk's xAI submitted an unsolicited offer to the company's board of directors on Monday. The group wants to buy the nonprofit that controls OpenAI's for-profit arm. <br /> When asked for comment, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. "No thank you but we will buy twitter for $9.74 billion if you want," Altman wrote on the social media platform Musk owns.  <br /> no thank you but we will buy twitter for $9.74 billion if you want— Sam Altman (@sama) February 10, 2025<br /> <br /> <br /> <br /> "It’s time for OpenAI to return to the open-source, safety-focused force for good it once was," Musk said in a statement his attorney shared with The Journal. "We will make sure that happens."<br /> OpenAI<br /> It's hard to say how serious this bid from Musk is and what — if any — chance it has to succeed. OpenAI is not a traditional company, and the nonprofit structure Sam Altman and others at the company want it to get away from may in fact protect it from Musk's offer. Were OpenAI purely a for-profit company with traditional shares Musk's bid would likely trigger what's known in corporate law as a Revlon moment, where, under certain circumstances, the company's board of directors would be forced to sell the company to the highest bidder to maximize shareholder profits.  <br /> Musk, as you can imagine, wasn't a fan of Altman's joke, writing "Swindler" in response and later calling him "Scam Altman."   This article originally appeared on Engadget at https://www.engadget.com/ai/elon-musk-wants-to-buy-openai-for-974-billion-215221105.html?src=rss