Elon Musk has made a bold $97.4 billion offer to acquire OpenAI, but CEO Sam Altman has firmly declined. Musk’s AI venture, xAI, and a group of investors submitted an unsolicited bid to OpenAI’s board to gain control of the nonprofit overseeing its for-profit arm.
When asked for a response, an OpenAI spokesperson pointed to a post by Altman on X, where he sarcastically replied, “No thank you, but we will buy Twitter for $9.74 billion if you want.” Musk was not amused, responding by calling Altman a “Swindler” and later dubbing him “Scam Altman.”
The success of Musk’s bid remains uncertain, especially given OpenAI’s unique structure. Unlike a traditional company with shareholders, OpenAI’s governance model may shield it from a hostile takeover. Had OpenAI been a purely for-profit entity, Musk’s bid could have triggered a Revlon moment, where the board would be obligated to accept the highest offer for shareholder benefit.
As the AI industry heats up, this standoff between Musk and OpenAI highlights the high stakes and power struggles shaping the future of artificial intelligence.
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