Since leaving OpenAI, Musk has launched his own AI company,xAI. If he were to acquire OpenAI, speculation suggests the two companies could merge. However, at this stage, a takeover appearsunlikely—largely due to Microsoft's substantial investment. Microsoft holds a49%stake in OpenAI LP—having...
He has already launched a lawsuit against Mr Altman and OpenAI attempting to block the conversion and is now bidding $97.4 billion for the assets held by the non-profit, which include a controlling stake in OpenAI’s for-profit subsidiary. “It is vital that the charity be fairly compensated...
Elon Musk and a group of investors have made a $97.4 billion offer to buy OpenAI controlling non-profit entity.
To finance such a bid, Musk could sell part of his stake in Tesla or take a loan against his stake, or use his stake in rocket company SpaceX that is worth tens of billions of dollars as collateral, according to an uninvolved investment banker, who requested anonymity. ALSO READ:Musk: ...
Musk resigned from the board in early 2018 in a move that OpenAI at the time said would prevent conflicts of interest as the Tesla CEO was recruiting AI talent to build self-driving technology at the electric car maker. “This will eliminate a potential futu...
OpenAI and Altman have denied the allegations, while Altman alleges that Musk has been trying to slow down a competitor. At stake in the lawsuit is the ChatGPT maker's transition to a for-profit model, which the startup says is crucial to raising more capital and competing well in the ...
According to the lawsuit, such actions constitute a breach of the founding agreement between Musk — who co-founded OpenAI in 2015 but no longer retains a stake in the company — Altman, and OpenAI president Greg Brockman, who committed to making the project a nonprofit and its technology open...
But Rogers wrote in the order that she wanted to resolve the lawsuit quickly given “the public interest at stake and potential for harm if a conversion contrary to law occurred.” Musk and OpenAI, which he co-founded as a nonprofit in 2015 but left before it took off, have been embroile...
According toThe Wall Street Journal, Musk’s offer could disrupt Altman’s plans for OpenAI, since the nonprofit arm will still own a stake in the for-profit company, and Musk’s high valuation set with the offer could mean the nonprofit entity maintains significant control of the new company...
Musk and his own AI startup, xAI, and a group of investment firms announced a bid to buy the nonprofit that controls OpenAI. Musk in a court filing Wednesday expanded on the proposal to acquire the nonprofit's controlling stake in the for-profit OpenAI subsidiary.Savitt's letter Friday sai...