A consortium of investors led by Elon Musk has submitted a $97.4 billion takeover bid for OpenAI, the company behind ChatGPT.
Musk’s attorney, Marc Toberoff, confirmed that the offer, which seeks to acquire all assets of the AI firm, was presented to OpenAI’s board on Monday.
The bid marks the latest development in the ongoing rivalry between Musk—a key ally of U.S. President Donald Trump—and OpenAI CEO Sam Altman, as they clash over the future of the AI industry.
Altman swiftly dismissed the proposal, responding on Musk’s social media platform X with a pointed remark:
"No thank you, but we will buy Twitter for $9.74 billion if you want."
OpenAI is widely recognized for bringing artificial intelligence into the mainstream, driving massive investment in the sector.
Elon Musk and Sam Altman co-founded OpenAI in 2015 as a non-profit organization, but their relationship deteriorated after Musk left the company in 2018.
Altman is reportedly restructuring OpenAI into a for-profit entity, dissolving its non-profit board—a move Musk claims goes against the company’s original mission of developing AI for the benefit of humanity. However, OpenAI argues that transitioning to a for-profit model is essential to secure the funding required for advancing AI technology.
Musk’s $97.4 billion takeover bid is backed by his AI venture xAI, along with private equity firms Baron Capital Group and Valor Management.
Musk’s attorney, Marc Toberoff, confirmed that the offer, which seeks to acquire all assets of the AI firm, was presented to OpenAI’s board on Monday.
The bid marks the latest development in the ongoing rivalry between Musk—a key ally of U.S. President Donald Trump—and OpenAI CEO Sam Altman, as they clash over the future of the AI industry.
Altman swiftly dismissed the proposal, responding on Musk’s social media platform X with a pointed remark:
"No thank you, but we will buy Twitter for $9.74 billion if you want."
OpenAI is widely recognized for bringing artificial intelligence into the mainstream, driving massive investment in the sector.
Elon Musk and Sam Altman co-founded OpenAI in 2015 as a non-profit organization, but their relationship deteriorated after Musk left the company in 2018.
Altman is reportedly restructuring OpenAI into a for-profit entity, dissolving its non-profit board—a move Musk claims goes against the company’s original mission of developing AI for the benefit of humanity. However, OpenAI argues that transitioning to a for-profit model is essential to secure the funding required for advancing AI technology.
Musk’s $97.4 billion takeover bid is backed by his AI venture xAI, along with private equity firms Baron Capital Group and Valor Management.
