Elon Musk-led group makes $97.4bn bid for ChatGPT maker OpenAI
Published On Feb 10, 2025, 5:16 PM
Elon Musk has led a consortium offering $97.4 billion to acquire OpenAI, the company known for its ChatGPT technology. This move follows a complicated history between Musk and OpenAI CEO Sam Altman, focusing on the shift of OpenAI into a for-profit model, which Musk argues strays from its original mission. Despite Musk's bid being lower than OpenAI’s previous valuations, he claims that under his leadership, the company can return to its original safety-focused, open-source goals in AI development. This bid comes as OpenAI prepares another major project, partnering with Oracle and others to develop $500 billion worth of AI infrastructure in the US.
Stock Forecasts
ARKK
Positive
The current competitive landscape in AI and the recent bid for OpenAI highlights ongoing interest and investment in AI technologies. Investors in AI-related stocks or ETFs may see potential positive effects from this momentum. However, the actual success of the bid and any potential regulatory hurdles could impact market perceptions.
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