Elon Musk (left) and Sam Altman (right)
Source: Africa Publicity
A dramatic showdown is unfolding in the tech world as OpenAI CEO Sam Altman swiftly rejected a staggering $97.4 billion offer from an Elon Musk-led consortium to take control of the nonprofit group behind the AI company. This move is the latest salvo in a long-standing rivalry between the two tech moguls.
The Wall Street Journey first reported about the bid rejection.
Musk’s bid, which includes his AI company xAI and investment firms Baron Capital Group and Emmanuel Capital, aims to block OpenAI’s transition to a for-profit structure and restore its original nonprofit mission. However, Altman remains committed to the company’s existing for-profit push, informing employees that the bid won’t derail their plans.
In a cheeky response on Musk-owned platform X, Altman said, “No thank you, but we will buy Twitter for $9.74 billion if you want.” Musk retaliated by calling Altman a swindler.
The rivalry between Musk and Altman dates back to 2018 when Musk left OpenAI due to clashes with Altman. Since then, Musk has been critical of OpenAI’s revised business model, even urging lawmakers to push the company to auction off large stakes in its business.
Meanwhile, Meta is undergoing a significant restructuring, with thousands of employees receiving layoff notices as the company shifts its focus to high-priority areas like AI. CEO Mark Zuckerberg announced plans to cut 5% of the workforce, with U.S.-based employees receiving severance packages and eligible staff still receiving bonuses and stock awards.
Have a press release, feature, article for publication? Send it to us via Whatsapp on +233543452542.
