Elon Musk Group Bids $97.4B

Elon Musk-Led Group Bids $97.4 Billion for OpenAI

• Elon Musk and a consortium of investors offered $97.4 billion to acquire OpenAI.
• Musk’s attorney, Marc Toberoff, submitted the bid to OpenAI’s board.
• The bid is backed by xAI and investors like Valor Equity Partners and Baron Capital.
• OpenAI, co-founded by Musk in 2015, plans to convert into a for-profit firm by 2026.
• The organization was valued at $157 billion during a recent funding round.

Musk’s bid aims to counteract OpenAI’s transition to a for-profit model, seeking to merge it with his AI company, xAI. The offer includes backing from several prominent investors and reflects opposition to OpenAI’s current conversion plans.