OpenAI CEO Sam Altman rebuffs the offer, but an expert says it may 'significantly complicate' fundraising for the company
This is AI generated summarization, which may have errors. For context, always refer to the full article.Dado Ruvic/ReutersOpenAI CEO Sam Altman rebuffs the offer, but an expert says it may 'significantly complicate' fundraising for the companyConsortium includes xAI, Baron Capital and othersA consortium led by Elon Musk said on Monday it has offered $97.
Musk, the CEO of Tesla and owner of tech and social media company X, is a close ally of President Donald Trump. He spent more than a quarter of a billion dollars to help elect Trump, and leads the Department of Government Efficiency, a new arm of the White House tasked with radically shrinking the federal bureaucracy. Musk recently criticized a $500 billion OpenAI-led project announced by Trump at the White House.
Musk’s lawsuit against OpenAI and Altman says the founders originally approached him to fund a nonprofit focused on developing AI to benefit humanity, but that it was now focused on making money. XAI could merge with OpenAI following a deal, according to the Wall Street Journal which first reported Musk’s offer earlier on Monday. XAI recently raised $6 billion from investors at a valuation of $40 billion, sources have told Reuters.“This is definitely throwing a wrench in things,” said Jonathan Macey, a Yale Law School professor specializing in corporate governance.
Aside from any antitrust implications, a deal this size would need Musk and his consortium to raise enormous funds.
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