In a dramatic turn of events, an investment group led by Elon Musk has submitted a $97.4 billion (£78.4 billion) bid to acquire OpenAI, the maker of ChatGPT. The bid, confirmed by Musk’s attorney Marc Toberoff, was presented to OpenAI’s board on Monday. However, OpenAI CEO Sam Altman swiftly rejected the offer with a witty response on Musk’s platform, X, stating, “No thank you, but we will buy Twitter for $9.74 billion if you want.”
This latest move intensifies the ongoing rivalry between Musk and Altman. Although the bid has been turned down for now, OpenAI’s board holds the final decision and could reconsider, especially if Musk’s consortium raises the offer. However, skepticism remains over whether Musk genuinely intends to acquire the AI giant or if this is another chapter in his legal and ideological battle with Altman.
Musk and Altman co-founded OpenAI in 2015 as a non-profit, but their relationship soured after Musk’s departure in 2018. Altman has since steered the company toward a for-profit model, a shift Musk argues undermines OpenAI’s original mission to develop AI for humanity’s benefit. OpenAI, however, maintains that the transition is essential to secure the funding required to advance artificial intelligence.
Tech investor Christie Pitts expressed doubts about Musk’s motives, highlighting his own for-profit AI company as a potential conflict of interest. Meanwhile, OpenAI’s latest funding round has valued the firm at up to $300 billion—far above Musk’s offer.
The rivalry extends beyond OpenAI, as Altman collaborates with Oracle, a Japanese investment firm, and an Emirati wealth fund on a $500 billion AI project. Despite Musk’s close ties to President Trump, he has cast doubt on the project’s financial backing. As the battle for AI dominance unfolds, the question remains—will Musk up the ante, or is this just another strategic play?