Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump lashes out at Crockett, renews call for...
Trump goes after Zelenskyy over ‘land swapping’ dispute,...
Democratic whistleblower told FBI that Adam Schiff approved...
MORNING GLORY: Trump meets Putin amid an era...
‘Things need to change’: Senate Democrats sharpen criticism...
Mamdani zings Cuomo in rent-stabilized housing spat during...
Unearthed emails reveal White House nixed Biden visiting...
Strong drilling targets identified next to high-grade gold-copper...
Seymour Lithium Project Achieves Permitting Milestone
Acquisition of Silver Extraction Technology
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Elon Musk and investors offering $97.4 billion for control of OpenAI, WSJ reports

by admin February 12, 2025
February 12, 2025
Elon Musk and investors offering $97.4 billion for control of OpenAI, WSJ reports

Elon Musk is leading a group of investors in offering to buy control of OpenAI for $97.4 billion, The Wall Street Journal reported on Monday.

The bid is for the nonprofit that oversees the artificial intelligence startup, the Journal reported, adding that Musk’s attorney, Marc Toberoff, said he submitted the offer on Monday.

The WSJ cited a statement from Musk provided by Toberoff, saying, “It’s time for OpenAI to return to the open-source, safety-focused force for good it once was.”

In a post on X, OpenAI CEO Sam Altman wrote, “no thank you but we will buy twitter for $9.74 billion if you want.” Musk then replied to the OpenAI chief on X calling him a “swindler,” and in a reply to a different user, called him “Scam Altman.”

Musk, who is a top adviser to President Donald Trump, is in the midst of a heated legal and public relations battle with Altman. They were two of the co-founders of OpenAI in 2015, establishing the entity as a nonprofit focused on AI research.

OpenAI has since emerged as a giant in generative AI, launching ChatGPT in 2022 and setting off a wave of investment in new tools and infrastructure for next-generation AI products and services. SoftBank is close to finalizing a $40 billion investment in OpenAI at a $260 billion valuation, sources told CNBC’s David Faber last week.

Musk now has a competitor in the AI market, a startup called xAI, and is suing OpenAI, accusing it of antitrust violations and to try and keep it from converting into a for-profit corporation.

Meanwhile, OpenAI partnered with SoftBank and Oracle in a project announced by Trump right after his inauguration called Stargate, which calls on the companies to invest billions of dollars in AI infrastructure in the U.S.

Musk’s offer is backed by xAI, which the Journal reports could merge with OpenAI if a deal were to occur. Other investors in the bid include Valor Equity Partners, Baron Capital, 8VC and Ari Emanuel’s investment fund, the paper reported.

Toberoff sent a letter to the attorneys general in California and Delaware on Jan. 7, asking that bidding be opened up for OpenAI.

This post appeared first on NBC NEWS

previous post
FBI must release Mar-a-Lago probe records despite Trump’s criminal immunity: judge
next post
Heliostar Metals: Gold Miner with a Portfolio of Producing, Developing Gold Projects in Mexico

You may also like

Chipotle to launch Adobo Ranch dip after sluggish...

June 11, 2025

TD Bank pleads guilty in money laundering case,...

October 11, 2024

Mars to acquire snack maker Kellanova in $36...

August 15, 2024

The plane that crashed in South Korea is...

January 3, 2025

Nintendo Switch 2 retail preorder to begin April...

April 21, 2025

Elon Musk’s X sues advertisers over alleged ‘massive...

August 7, 2024

NBA says Amazon will be its new media...

July 26, 2024

Tim Cook to join Trump at White House...

August 7, 2025

All major Las Vegas Strip casinos are now...

August 5, 2025

A U.S. construction boom is sending rents lower...

August 15, 2024

Recent Posts

  • Trump lashes out at Crockett, renews call for cognitive test
  • Trump goes after Zelenskyy over ‘land swapping’ dispute, lays out ‘feel out meeting’ with Putin
  • Democratic whistleblower told FBI that Adam Schiff approved classified leaks to target Trump
  • MORNING GLORY: Trump meets Putin amid an era done away with John Quincy Adams’ ‘abroad’
  • ‘Things need to change’: Senate Democrats sharpen criticism of Israel as humanitarian concerns grow

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (867)
    • Investing (2,729)
    • Politics (3,369)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.