OpenAI questions Musk-led USD 97.4 billion takeover bid, citing contradictions
Elon Musk's $97.4 Billion Bid for OpenAI Sparks Controversy
Washington DC, February 13
OpenAI's board is questioning a $97.4 billion takeover bid led by Elon Musk. The bid, made on Monday, aims to acquire OpenAI's assets. In response, OpenAI CEO Sam Altman humorously suggested buying Twitter for $9.74 billion. Musk called Altman a "swindler."
OpenAI argues Musk's offer contradicts his previous legal stance, where he insisted OpenAI's assets remain with the nonprofit. The board has not yet decided on the offer.
Marc Toberoff, Musk's lawyer, stated the lawsuit is about OpenAI's misconduct, not control. He mentioned Musk would withdraw his bid if OpenAI removes the 'For Sale' sign from its assets.
Musk and Altman have had ongoing disputes. Musk co-founded OpenAI in 2015 but left before its success and later founded xAI in 2023.
In a related development, a federal judge indicated parts of Musk's lawsuit against OpenAI might go to trial, requiring Musk to testify.
Doubts Revealed
Elon Musk
Elon Musk is a famous businessman known for creating companies like Tesla and SpaceX. He is very rich and often in the news for his big ideas and projects.
$97.4 Billion
This is a huge amount of money, equal to 97,400 crores in Indian rupees. It's the amount Elon Musk offered to buy OpenAI's assets.
OpenAI
OpenAI is a company that works on creating smart computer programs, like the one that helps me answer your questions. They focus on making artificial intelligence safe and helpful.
Sam Altman
Sam Altman is the CEO of OpenAI. He is responsible for leading the company and making important decisions.
Nonprofit
A nonprofit is an organization that doesn't aim to make money for owners but instead works for a cause, like helping people or the environment.
Marc Toberoff
Marc Toberoff is a lawyer representing Elon Musk. Lawyers help people with legal issues and represent them in court.
xAI
xAI is another company started by Elon Musk. It focuses on artificial intelligence, similar to OpenAI.
Federal judge
A federal judge is a person who works in the court system and makes decisions about legal cases in the country.
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