A consortium of investors led by Elon Musk submitted a $97.6 billion offer on Monday, February 10, to acquire OpenAI. The information was confirmed by Musk’s attorney, Marc Toberoff, to *The Wall Street Journal*. This unsolicited proposal presents a significant obstacle to Sam Altman’s plans for OpenAI’s future, which include transforming it into a for-profit company and investing up to $500 billion in AI infrastructure through the Stargate initiative.
The offer is backed by an influential coalition of supporters, including xAI—Musk’s artificial intelligence company—and prominent venture capital players such as Valor Equity Partners, Hollywood mogul Ari Emanuel, and 8VC, the firm co-founded by Palantir’s Joe Lonsdale.
Musk vs. Altman: A Growing Rivalry
This move marks another chapter in the ongoing dispute between Musk and Altman, who co-founded OpenAI in 2015 along with other partners. Musk, who left the company in 2019, had already filed a lawsuit against OpenAI in 2024, arguing that the organization had betrayed its original mission by abandoning its nonprofit structure and establishing a commercial subsidiary in partnership with Microsoft.
In response to Musk’s offer, Altman posted on X: “No, thanks, but we’ll buy Twitter for $9.74 billion if you want”, referencing the former name of Musk’s social media platform and sarcastically shifting the decimal point in Musk’s bid.
For its part, OpenAI dismissed Musk’s legal actions as unfounded and asserted that its nonprofit entity would receive the full value of its stake in the for-profit company. Additionally, in December, the company released documents that it claims prove Musk had previously supported OpenAI’s transition to a for-profit model but withdrew when he failed to gain full control of the company.
A Critical Moment for OpenAI
This offer comes at a pivotal time for Altman’s company, which is currently managing multiple strategic deals, including OpenAI’s transition to a for-profit structure, a $40 billion fundraising round with a $340 billion valuation, and the development of AI infrastructure valued at $500 billion.
For Musk, this represents his boldest attempt yet to reclaim what he sees as OpenAI’s original purpose: developing artificial intelligence in a safe and open manner.
