Elon Musk has made a $97.4 billion bid to acquire OpenAI, the company behind the popular chatbot ChatGPT. The offer is part of a long-standing feud between Musk and OpenAI CEO Sam Altman over control of the AI startup.
Altman dismissed the bid as “not for sale,” stating that OpenAI’s mission is to make artificial general intelligence (AGI) benefit all humanity, not just maximize profits. Musk, on the other hand, claims that he wants to take control of OpenAI’s technology to benefit humanity.
However, experts argue that Musk’s motivations may be driven by personal gain rather than altruism. “There is a legally binding purpose” made when OpenAI was formed as a nonprofit, which promises to use its resources for the public good, said UCLA Law professor Jill Horwitz. “If they sell their assets and lose control of the technology, it’s hard to see how they can fulfill that promise.”
The offer also raises concerns about the impact on OpenAI’s nonprofit status and its ability to maintain independence. A group of investors led by Musk is offering a floor price for the company, which could set a precedent for future acquisitions.
OpenAI’s board will need to consider the value of the company’s assets, the value of controlling the technology, and the credibility of Musk’s offer. “If Altman and OpenAI’s current board ‘are intent on becoming a fully for-profit corporation,’ it is vital that the charity be fairly compensated,” said Musk attorney Marc Toberoff.
As the dispute escalates, experts warn that Musk’s actions may be seen as a breach of the nonprofit’s promise to use its resources for the public good. The future of OpenAI and its mission to make AGI benefit all humanity hangs in the balance.
Source: https://apnews.com/article/elon-musk-sam-altman-openai-bid-chatgpt-58d9bc3d59497468d7b37ecd5d9ff5e6