Elon Musk's consortium has proposed a $97.4 billion bid to acquire OpenAI's controlling nonprofit, despite OpenAI's valuation at approximately $300 billion. Tensions between Musk and OpenAI CEO Sam Altman have escalated since Musk's departure from the organization in 2019, which transitioned toward profit-making ventures. Altman humorously countered Musk's offer on social media, and amid the potential acquisition, concerns regarding the nonprofit's foundational objectives persist, especially if Altman's board opts for full profitability.
The offer is well below OpenAI's market value, which Bloomberg puts at around $300 billion. Therefore, it can be viewed as a hostile provocation.
Musk's suggestion to buy Twitter at a significant discount reflects the ongoing tensions and the complex relationship between him and Altman.
In the past, Musk and Altman had a good relationship, founding OpenAI as a nonprofit before Musk's departure led to shifts toward profit.
If Altman and OpenAI's board are moving toward full profit, they must ensure that the nonprofit's founding principles are not compromised.
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