{"id":47360,"date":"2025-02-13T22:39:09","date_gmt":"2025-02-13T22:39:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-may-abandon-openai-bid-if-nonprofit-status-stays-attorneys-say\/"},"modified":"2025-02-13T22:39:09","modified_gmt":"2025-02-13T22:39:09","slug":"elon-musk-may-abandon-openai-bid-if-nonprofit-status-stays-attorneys-say","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/elon-musk-may-abandon-openai-bid-if-nonprofit-status-stays-attorneys-say\/","title":{"rendered":"Elon Musk may abandon OpenAI bid if nonprofit status stays, attorneys say"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Elon Musk might not go ahead with his $97.4 billion bid for OpenAI\u2019s nonprofit arm if the ChatGPT maker ceases its transition into a for-profit entity, according to a court filing submitted<\/a> to the US District Court for the Northern District of California on Wednesday.<\/p>\n

The filing stated that if OpenAI\u2019s board agrees to uphold the nonprofit\u2019s original mission and halts its shift toward commercialization, Musk will withdraw his offer. <\/p>\n

Otherwise, the AI firm must be sold at a fair market price, CNBC reported citing the court filing.<\/p>\n

Musk, alongside his AI company xAI and a group of investors, launched the bid earlier this week, alleging that OpenAI and CEO Sam Altman had strayed from their founding principles by prioritizing profits over ethical AI development. <\/p>\n

Altman, however, dismissed the move as an attempt by Musk to hinder a rival\u2019s progress.<\/p>\n

Musk has been vocal about his discontent with OpenAI\u2019<\/h2>\n

Founded in 2015 as a nonprofit, OpenAI transitioned to a \u201ccapped profit\u201d model in 2019. <\/p>\n

Musk, who helped establish the organization and contributed nearly $50 million in funding, has been vocal about his discontent with its shift toward commercialization.<\/p>\n

Speaking via video at the World Governments Summit in Dubai, Musk reiterated his concerns, saying OpenAI\u2019s move toward a fully for-profit model was a drastic departure from its original vision. <\/p>\n

He likened the situation to creating a nonprofit to protect the Amazon rainforest, only for it to later become a logging company.<\/p>\n

Musk further criticized OpenAI\u2019s trajectory, suggesting it should rebrand as \u201cMaximum Profit AI\u201d or \u201cClosed for Voracious Profit.\u201d<\/p>\n

Altman has remained unfazed by Musk\u2019s bid<\/h2>\n

When asked on Tuesday how seriously he took the offer, he simply responded, \u201cNot particularly.\u201d<\/p>\n

Speaking to\u00a0Reuters<\/em>\u00a0on the sidelines of an AI summit in Paris,\u00a0Altman responded bluntly<\/a>\u00a0when asked about Musk\u2019s reported $97.4 billion bid.<\/p>\n

\u201cI have nothing to say. I mean, it\u2019s ridiculous,\u201d he said. He further claimed that Musk\u2019s move was just another attempt to disrupt OpenAI, adding,<\/p>\n

\u201cThe company is not for sale. It\u2019s another one of his tactics to try to mess with us.\u201d<\/p>\n

Altman has also conveyed to OpenAI staff that the company\u2019s board of directors intends to unequivocally reject Musk\u2019s \u201csupposed bid,\u201d according to a report by The Information on Monday.<\/p>\n

OpenAI supporters argue that the transition to a fully for-profit public benefit corporation\u2014expected to take about two years\u2014will enable the company to scale more effectively and attract further investment. <\/p>\n

Altman has previously claimed that Musk ceased funding OpenAI, which contributed to its decision to modify its structure.<\/p>\n

As the legal and corporate battle continues, Musk\u2019s next move remains uncertain, but his criticism highlights the ongoing debate over AI development and its financial motivations.<\/p>\n

The post Elon Musk may abandon OpenAI bid if nonprofit status stays, attorneys say<\/a> appeared first on Invezz<\/a><\/p>\n

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(Originally posted on : Invezz ) Elon Musk might not go ahead with his $97.4 billion bid for OpenAI\u2019s nonprofit arm if the ChatGPT maker ceases its transition into a for-profit entity, according to a court filing submitted to the US District Court for the Northern District of California on Wednesday. The filing stated that […]<\/p>\n","protected":false},"author":3947362382,"featured_media":47361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47360"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362382"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47360"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47361"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}