A consortium of investors led by Elon Musk\u2019s x.AI offered to buy OpenAI for $97.4 billion last week. OpenAI CEO Sam Altman has dismissed the proposal, which would gum up OpenAI\u2019s planned conversion from a non-profit, something Musk is attempting to block in a lawsuit.<\/p>\n\n\n\n
Altman\u2019s lawyers argued in a Wednesday filing that Musk can\u2019t have it both ways: attempt to buy OpenAI\u2019s assets and also try to stop it from changing its non-profit status. Musk\u2019s team responded that it would withdraw the bid if OpenAI ceased its attempts to convert itself from a non-profit.<\/p>\n\n\n\n
Meanwhile, as a part of these filings, the full letter of intent from Musk\u2019s team to buy OpenAI was made public.<\/p>\n\n\n\n
Here\u2019s 5 key details we learned from that letter and other legal filings to shed light on this ongoing, and rather messy, dispute.<\/p>\n\n\n\n
The unsolicited offer from Musk\u2019s group comes with a specific expiration date: May 10, 2025. There are exceptions to the deadline if the deal is finalized beforehand, both sides agree to end discussions, or OpenAI formally rejects the offer in writing.<\/p>\n\n\n\n
Despite Altman\u2019s public dismissals, including a joking counteroffer to buy X for a tenth of the price, OpenAI\u2019s board hasn\u2019t formally rejected the offer yet as boards are typically required to legally evaluate such offers, even from competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"
A consortium of investors led by Elon Musk\u2019s x.AI offered to buy OpenAI for $97.4 billion last week. OpenAI CEO Sam Altman has dismissed the proposal, which would gum up OpenAI\u2019s planned conversion from a non-profit, something Musk is attempting to block in a lawsuit. Altman\u2019s lawyers argued in a Wednesday filing that Musk can\u2019t […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1141","post","type-post","status-publish","format-standard","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":1,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"predecessor-version":[{"id":1142,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1141\/revisions\/1142"}],"wp:attachment":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}