Elon Musk, backed by a consortium of investors, recently attempted to acquire OpenAI, a leading artificial intelligence firm. However, it seems the overture has been turned down.
As per a fresh piece from the Wall Street Journal, the investor group led by Musk put forth an unexpected proposal of $97.4 billion to buy out the non-profit organization that oversees OpenAI.
OpenAI was initially founded by Musk in partnership with its current CEO, Sam Altman. Musk later severed ties with the company. Since then, they have often disagreed over the direction that OpenAI has taken. OpenAI was initially envisaged as a non-profit entity with an open-source philosophy. However, with the emergence of ChatGPT in the tech landscape, Altman has been pushing to convert OpenAI into a profit-making company.
Musk, who later founded his own AI firm, xAI, has frequently voiced his disapproval of OpenAI and Altman’s approach.
“Musk’s lawyer asserted to WSJ, “OpenAI should revert to being the open-source, safety-oriented positive force it once was. We are committed to ensuring that this happens.”
In a post on Musk’s X, Altman appears to have refused Musk’s proposal. OpenAI has already collected billions of dollars in funding from companies like Microsoft and was recently valued at $157 billion.
Altman posted on X, stating, “no thank you but we will buy Twitter for $9.74 billion if you want.” This statement by Altman, hinting at purchasing Twitter, was a thinly veiled dig at Musk.
In 2022, Musk bought X, previously known as Twitter, for a staggering $44 billion, a price considerably higher than the social media platform’s worth. Since Musk’s acquisition, X’s value has only decreased further.
In response to Altman’s refusal, Musk responded with just one word: “Swindler.”
This development is sure to pique the interest of anyone considering an investment in the AI sector, providing a fascinating glimpse into the competitive landscape of this emerging field. However, the central narrative here is not about investment opportunities, but rather, the ongoing saga between two influential figures in the tech world and their differing visions for the future of artificial intelligence.
