A dramatic twist has unfolded in the world of artificial intelligence, with Elon Musk and a group of investors reportedly offering OpenAI CEO Sam Altman a staggering $97.4 billion to acquire the AI giant. Altman, however, rejected the bid, and in a surprising counter-move, offered Musk $9.74 billion for Twitter (now X), the social media platform Musk owns. 

The bid, confirmed by Musk’s attorney Marc Toberoff, was formally submitted to OpenAI’s board on Monday. Altman responded via X, quipping, “No thank you but we will buy Twitter for $9.74 billion if you want.”   

Musk and Altman’s history dates back to 2015 when they co-founded OpenAI. Musk later departed the company, well before its meteoric rise following the 2022 launch of ChatGPT. The chatbot’s success propelled OpenAI’s valuation to $157 billion by October 2024.   

Musk has been a vocal critic of OpenAI’s transition from a non-profit to a for-profit entity, a move he argues contradicts the company’s original mission. He has even filed a lawsuit against OpenAI, advocating for a return to open-source principles. Musk also operates his own AI company, xAI, which Altman has publicly acknowledged as a competitor.   

Altman, who leads OpenAI as CEO and serves on its non-profit board, champions the for-profit model as a necessity for securing the substantial funding required for advanced AI research.

Recent reports suggest OpenAI’s valuation could reach $300 billion after its next investment round. CWEB analysts speculate that if Musk’s consortium increases its bid to reflect this potential valuation, OpenAI’s board might be compelled to reconsider, potentially forcing Altman to entertain the offer. The current situation highlights the intense competition and high stakes in the rapidly evolving AI landscape.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their research or consult a financial advisor before making investment decisions.

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