OpenAI CEO Sam Altman rejected an unsolicited $97.4 billion purchase offer from a group of investors led by Elon Musk, which would lower OpenAI’s current valuation. Altman humorously responded on X (formerly Twitter), suggesting, “no thank you, but we will buy Twitter for $9.74 billion if you want.” Musk quickly called Altman a “swindler” in return.
The two co-founded OpenAI in 2015 as a nonprofit before parting ways due to disagreements. Since then, Altman has pivoted to make OpenAI a for-profit entity, while Musk has sued to prevent this, citing his original $45 million donation that he claims was contingent on OpenAI’s nonprofit status.
Meanwhile, SoftBank plans a $40 billion investment in OpenAI at a $260 billion valuation. Musk’s offer could suggest that some believe OpenAI’s assets are worth $97.4 billion, but experts note that unpredictable factors—such as legal issues, business structure, and future growth—could skew the valuation.
Musk also runs a competing AI venture, xAI, and the two have had public disagreements before, with Musk criticizing OpenAI’s partnerships with SoftBank and Oracle. Altman has challenged Musk’s claims, inviting him to visit a Texas facility under construction.
