Elon Musk Offers To Withdraw $97.4 Billion OpenAI Bid If Non-Profit Status Is Preserved

Benzinga

Elon Musk has offered to withdraw his $97.4 billion bid for OpenAI’s non-profit arm if the ChatGPT maker halts its transition to a for-profit entity, according to a court filing submitted Wednesday. Musk, xAI, and a group of investors launched the bid Monday, accusing OpenAI and CEO Sam Altman of abandoning the company’s original mission. Altman dismissed the move, telling CNBC it was an attempt to “slow down a competitor.” OpenAI, initially founded as a non-profit in 2015, adopted a capped-profit model in 2019.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Elon Musk has offered to withdraw his $97.4 billion bid for OpenAI's non-profit arm if

00:07the chat-GBT maker halts its transition to a for-profit entity, according to a court

00:11filing submitted Wednesday.

00:13Musk, ex-AI, and a group of investors launched the bid Monday, accusing OpenAI and CEO Sam

00:18Altman of abandoning the company's original mission.

00:21Altman dismissed the move, telling CNBC it was an attempt to slow down a competitor.

00:26OpenAI, initially founded as a non-profit in 2015, adopted a capped-profit model in 2019.

00:31For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Comments

Recommended