Elon Musk's recent $97.4 billion bid for OpenAI has been deemed a low-ball offer by tech deal bankers, especially compared to his previous $44 billion Twitter acquisition. Sam Altman, OpenAI's CEO, humorously countered Musk's offer on social media. The context of their relationship is tense due to a past falling out over the direction of OpenAI, which Musk claims is straying from its original non-profit mission. Experts suggest the organization is worth over $300 billion, given its transformative technology in various fields.
Tech deal bankers say Musk's $97.4 billion bid this week for Sam Altman's Open AI is a pittance of its real value, and consider the offer somewhat of a head-scratcher for a guy who spent $44 billion on Twitter.
Yes, it's all a little rich coming from the world's richest man.
The potential of [OpenAI's] revolutionary technology to advance science, medicine and tech is real, and it's definitely worth more than the two Twitters-plus Musk is offering, bankers say.
Altman is working on a plan to turn the whole shabang into a for-profit company, and based on the valuation of a round of funding it's completing, OpenAI would be worth more than $300 billion.
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