A consortium of investors led by Elon Musk has proposed a hostile takeover of OpenAI for approximately $97.4 billion. The group has expressed willingness to increase their offer if necessary.
OpenAI CEO Sam Altman has declined the offer, stating that the organization is not for sale. However, Altman has indicated an interest in acquiring Twitter for $9.74 billion.
The investor group includes Baron Capital Group, Valor Management, Atreides Management, Vy Fund III L.P., Emmanuel Capital Management, and 8VC.
Baron Capital Group has substantial investments in Tesla and SpaceX, while Atreides Management has ties to Boston-based hedge fund Atreides and has invested in both Tesla and SpaceX. Valor Management was founded by Antonio Gracias, an early SpaceX investor and former Tesla board member. Vy Capital also has a stake in SpaceX and has invested in other Musk ventures such as The Boring Company and Neuralink.
8VC is a venture capital firm associated with Joe Lonsdale, a known supporter of Musk. Lonsdale has publicly expressed admiration for Musk’s cryptocurrency ventures.
The seriousness of this takeover attempt remains uncertain. It has been suggested that it may be a strategic move by Musk to increase the costs associated with OpenAI’s restructuring plans.
Musk was involved in the establishment of OpenAI as a non-profit organization dedicated to AI research. He has expressed concern over Altman’s plans to restructure the organization.
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