Elon Musk Proposes $97.4 Billion Mega Acquisition of OpenAI

Recently, a stunning announcement has emerged in the tech world: Elon Musk, together with a group of well-funded investors, has submitted an acquisition proposal worth $97.4 billion targeting OpenAI, the AI giant he co-founded but later left. This staggering figure is nearly double the amount Musk spent on acquiring Twitter last year.

According to internal documents obtained by The Wall Street Journal, a group of investors led by Musk officially presented this massive acquisition offer to the non-profit organization controlling OpenAI. Musk's lawyer, Mark Tobeloff, delivered the acquisition proposal to the OpenAI board of directors on Monday, drawing significant attention from the industry.

This move is seen as Musk's direct response to OpenAI CEO Sam Altman's plan to transform the non-profit organization into a for-profit enterprise. OpenAI had previously announced its intention to complete this transition by the end of 2026, as part of a financing agreement reached in October last year that valued the company at $157 billion.

In a statement issued through his lawyer to The Wall Street Journal, Musk emphasized: "It's time for OpenAI to return to its original mission and become an open-source, safety-focused force for good." This remark immediately sparked speculation and discussion in the industry about the future direction of OpenAI.

However, responding humorously to Musk's acquisition proposal, OpenAI CEO Sam Altman tweeted: "Thanks, but no thanks. If you're interested in Twitter, we'd be willing to sell it to you for $9.74 billion." This reply quickly became a hot topic online, generating widespread discussion.

Notably, this bid received strong support from Musk's AI company xAI, along with prominent investors such as Valor Equity Partners, Baron Capital, Atreides Management, Vy Capital, and 8VC, the venture capital firm led by Palantir co-founder Joe Lonsdale. Additionally, Ari Emanuel, CEO of entertainment giant Endeavor, participated in the bid through his investment fund.

Looking back, Musk and Altman co-founded OpenAI in 2015 with the aim of establishing a non-profit artificial intelligence research institute. However, after Musk stepped away in 2019, Altman took over as CEO and began driving the organization's transformation into a for-profit entity to attract more investment and resources for AI research and development.

Musk's acquisition proposal has undoubtedly added further uncertainty to OpenAI's future. As negotiations between the two parties continue, the industry will closely monitor the latest developments in this event, eagerly awaiting the outcome of this showdown between tech giants.