A consortium led by Elon Musk said on Monday that he has offered $ 97.4 billion to buy the non -profit organization that controls OpenAi, another saves in the struggle of the billionaire to block the start of artificial intelligence (AI) of the transition to a profit company.
Musk’s offer is likely to increase long -data tensions with the Operai CEO, Sam Altman, about the future of the Chatgpt manufacturer in the heart of a boom in the generative technology of AI. Altman on Monday published quickly in 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 he left before the company took off. He founded the startup of the XAI competition in 2023.
Musk, the CEO of Tesla and owner of Tech and Social Media Company X, is a nearby ally of President Donald Trump. He spent more than a quarter of one billion dollars to help choose Trump, and leads the government’s efficiency department, a new white house arm in charge of radically reducing the federal bureaucracy.
Musk recently criticized a project led by Operai of $ 500 billion announced by Trump in the White House.
Operai is now trying to make the transition to an entity for profit of a non -profit entity, which he says to ensure the necessary capital to develop the best AI models.
Musk sued Altman and others in August last year, claiming that they violated the provisions of the contract by putting profits in front of the public good in the impulse to advance in AI. In November, he asked an American district judge for a preliminary judicial order that blocks Openai to become a profit structure.
Musk’s demand against Openai and Altman says that the founders originally approached him to finance a non -profit organization focused on developing AI to benefit humanity, but now focused on earning money.
“It’s time for Operai to return to the open source force and security centered for the good that once was,” Musk said in a statement on Monday. “We will make sure that happens.”
Altman told the staff in a message that the company’s board of directors intends to make it clear that he has no interest in Musk’s “alleged offer”, according to a Monday information report.
Sponsor Musk and Operai Microsoft MSFT.O did not immediately respond to comments requests.
The consortium led by Musk includes its XAI startup, Baron Capital Group, Emanuel Capital and others.
XAI could fuse with Openai after an agreement, according to the Wall Street Journalwhich first reported Musk’s offer on Monday. XAI recently raised $ 6 billion investors to an valuation of $ 40 billion, sources have said Reuters.
“Sailing a key key ‘
“This (offer) is definitely launching a key to things,” said Jonathan Macey, professor at Yale’s Law Faculty who specializes in corporate governance.
“It is assumed that the non -profit organization takes money to make any good action, and if OpenAi prefers to sell it to another person for less money, it is a concern to protect the interests of the beneficiaries of the non -profit organization.”
Operai was valued at $ 157 billion in its last round of financing, consolidating its state as one of the most valuable private companies in the world. SoftBank Group is in conversations to lead a financing round of up to $ 40 billion in Openai at an assessment of $ 300 billion, including new funds, Reuters reported in January.
In addition to any antitrust implication, an agreement of this size would need Musk and its consortium to raise huge funds.
Musk’s shares in Tesla are valued at approximately $ 165 billion, according to LSE data, but it is likely that their leverage with Banks will be thin after purchase of x of $ 44 billion, which was then called Twitter, in 2022.
To finance this offer, Musk could sell part of his participation in Tesla or take a loan against his participation, or use his participation in Rocket Company Spacex that is worth tens of billions of dollars as collateral, according to an unleashed investment banker who who does not anonymity requested.
“Musk’s offer to buy Openai’s non -profit organization should significantly complicate the current fundraising of OpenAi and the process of turning into a for profit corporation,” said Gil Luria, a Da Davidson analyst.
“The offer seems to be supported by more credible investors … it may not be able to ignore it. It will be a fiduciary responsibility of the OpenAi Board to decide if this is a better offer, which could question the SoftBank offer.”
