Elon Musk's OpenAI Takeover Bid Rejected

This is a OpenAI news story, published by Yahoo Finance, that relates primarily to Musk news.

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Technology

OpenAI is trying to make itself Elon Musk proof

Summary

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82% Informative

Elon Musk recently attempted an unsolicited takeover of OpenAI that was rejected by CEO Sam Altman and OpenAI 's nonprofit board.

Now the AI upstart reportedly wants to make sure that any future coups from the world's richest man — or any other investor — won't be successful.

The changes being discussed would give OpenAI ’s existing nonprofit directors special voting rights, allowing them to retain power over OpenAI .

Musk 's lawsuit seeking to prevent OpenAI 's conversion to a for-profit enterprise centers around Musk 's initial $45 million donation to fund the startup.

At $97 billion , Musk 's takeover offer fell significantly below the current valuation for OpenAI .

Japanese conglomerate SoftBank plans a new investment of $40 billion , which would place the AI firm's value at anywhere from $260 billion to $300 billion .

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semi-formal

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English

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