Earlier this year, Elon Musk made an unsolicited attempt to team up with Meta’s Mark Zuckerberg to bid for OpenAI. It seems that there are now some unexpected developments regarding valuations, as the company’s legal team filed something revealing about bargains under $100 billion.
In February, Musk made headlines with a shocking bid of $97.4 billion for control of OpenAI.
This comes amid a striking valuation of OpenAI, which was reported last week to be on track to reach $500 billion as it seeks to raise $6 billion from investors.
According to OpenAI’s lawyer, Musk identified Zuckerberg, the Meta CEO, as the person he had communicated with regarding a letter of intent linked to his offer.
The discussions between Musk and Zuckerberg revolved around possible investment or funding arrangements for OpenAI.
Interestingly, as Meta invests heavily in its own AI developments—attracting top talent with lucrative offers—this dialogue between the two tech moguls has garnered attention.
Ultimately, neither Zuckerberg nor Meta proceeded to sign the letter of intent related to Musk’s bid.
Instead, those backing the bid turned out to be closer associates of Musk.
Many were caught off guard by Musk’s outreach to Zuckerberg, especially considering their history as competitors, notably facing off in a much-publicized event in 2023.
Musk’s proposal was swiftly turned down by then-CEO Sam Altman and the board members at OpenAI. The organization alleges that Musk’s various bids and legal actions form part of a broader strategy to hinder progress in artificial intelligence.
This dispute adds another layer to the ongoing legal battles Musk is embroiled in with Altman and OpenAI, amidst accusations that the company has shifted away from its original philanthropic mission in pursuit of profits.
OpenAI is seeking judicial enforcement regarding documents related to Zuckerberg’s discussions with Musk, though Meta argues that this demand is overly intrusive and warrants rejection.
As of now, representatives from OpenAI and Musk’s attorney did not respond to inquiries about the filing, and Meta has chosen not to comment.
Musk currently heads XAI, where he develops Grok AI chatbots, directly competing with OpenAI.
It’s worth noting that Musk and Altman once had a strong partnership. Musk co-founded OpenAI and was its first major financial backer, but they eventually parted ways, leading to Musk’s departure from the organization.
He has voiced concerns about OpenAI’s transformation into a for-profit venture.
Meanwhile, Altman and his supporters insist that the original nonprofit group still maintains control over OpenAI’s overarching mission.
