February 11, 2025 – Elon Musk has proposed to acquire the operating assets of OpenAI for $974 billion, a move that could potentially have a significant impact on the thriving AI industry, according to multiple sources familiar with the matter who spoke to Axios.
This acquisition offer comes as OpenAI CEO Sam Altman is attempting to reorganize the company, aiming to separate its non-profit board from its profitable operations. However, it remains unclear whether Altman and the non-profit board have reached an agreement on the transition price.
In response to the news, Altman joked on the X platform, “No thanks, but if you want, we could buy Twitter for $97.4 billion.”
Some observers believe that Musk’s offer to acquire OpenAI’s operating assets may be a provocative gesture, possibly linked to his ongoing litigation with the company. Musk has previously expressed dissatisfaction with OpenAI’s deviation from its original mission, which he supported, and its plans to reorganize by separating the non-profit board from the profitable entity.
It’s worth noting that The Wall Street Journal had previously reported Musk’s intention to acquire the non-profit portion of OpenAI. However, given that non-profit organizations have no shareholders, such an acquisition may not be feasible. Therefore, Musk’s current focus seems to be on acquiring OpenAI’s underlying assets, potentially creating a competitive bidding situation. The Wall Street Journal also mentioned that Musk’s offer has the backing of his own company, xAI, as well as long-term investors in his other businesses.
As of press time, Musk’s lawyers have not responded to requests for comment. However, he provided a statement to The Wall Street Journal confirming the acquisition proposal.
