Elon Musk-led group proposes buying OpenAI for $97 billion. Sam Altman says 'no thank you'

OpenAI CEO Sam Altman quickly rejected the deal on Musk's social platform X

Tech billionaire Elon Musk, along with a consortium of investors, on Monday, offered $97.4 billion to acquire OpenAI, the parent company of ChatGPT, in a move that could reshape the artificial intelligence landscape. The bid intensifies Musk’s ongoing legal dispute with OpenAI and its CEO, Sam Altman, whom he has accused of deviating from the company’s founding principles.

Musk, a co-founder of OpenAI, has been at odds with Altman over the company’s transition from a nonprofit to a for-profit entity. His lawsuit claims that OpenAI has abandoned its original mission of open-source AI development in favor of profit-driven growth, particularly due to its ties with major investors like Microsoft and venture capital firm Thrive Capital.

According to reports from The Wall Street Journal and CNN, Musk and his investment group, including his AI startup xAI, have submitted an official proposal to OpenAI’s board, seeking to take control and revert the company to its nonprofit roots.

"If Sam Altman and the present OpenAI board are intent on becoming a fully for-profit corporation, it is vital that the charity be fairly compensated for what its leadership is taking away from it: control over the most transformative technology of our time," said Marc Toberoff, Musk’s attorney.

In response, Altman dismissed the offer in a post on Musk’s social media platform X, saying, "No thank you, but we will buy Twitter for $9.74 billion if you want." The remark was a jab at Musk’s $44 billion acquisition of Twitter, now rebranded as X, in 2022.

no thank you but we will buy twitter for $9.74 billion if you want
Sam Altman (@sama) February 10, 2025

Musk first sued OpenAI in June 2024 but dropped the case after the company published emails suggesting he had previously acknowledged the need for profit to sustain AI development. He then refiled a lawsuit in August 2024, accusing OpenAI of prioritising financial gains over AI safety and even alleging racketeering.

OpenAI, on the other hand, has dismissed Musk’s legal claims as baseless, arguing that he is simply envious of the company’s success since his departure in 2018, after an unsuccessful bid to merge OpenAI with Tesla.