The latest salvo between tech rivals Elon Musk and Sam Altman came in the form of Musk’s audacious $97.4 billion bid to acquire OpenAI, which gained significant ground in the GenAI race recently with the release of its powerful ‘deep research’ and 03-min models.
His gambit was met with an equally audacious and unequivocal response from CEO Sam Altman:
no thank you but we will buy twitter for $9.74 billion if you want
— Sam Altman (@sama) February 10, 2025
The Billion-Dollar Chess Match
The timing is particularly interesting given that OpenAI’s recent valuation discussions have reached as high as $300 billion – making Musk’s offer seem less like a serious acquisition attempt and more like the latest move in their ongoing high-stakes chess match.
The offer, delivered Monday through Musk’s attorney Marc Toberoff, seeks to acquire “all assets” of the AI powerhouse. It’s the latest move in an increasingly dramatic feud between Musk – currently serving as President Trump’s right-hand man in tech matters – and his former business partner Altman.
When Tech Bros Turn Rivals
The roots of this tech soap opera trace back to 2015, when the pair co-founded OpenAI as a non-profit with lofty goals of benefiting humanity. But like many Silicon Valley partnerships, this one took a swift downturn. Musk departed in 2018, and since then, their relationship has devolved into what social media users are calling “Kendrick vs. Drake for billionaires.”
Here’s where things get interesting: Musk’s $97.4 billion offer is significantly less than OpenAI’s last valuation of $157 billion. In fact, current talks suggest the company might be worth closer to $300 billion – sceptics might say that Musk’s bid looks more like a provocative gesture or strategic opening salvo than a serious offer.
As Christie Pitts, a tech investor at Panasonic Well, pointed out with diplomatic skepticism:
I think it’s fair to be pretty suspicious of this considering that he has a competitor himself… which is structured as a for-profit company, so I think there’s more than meets the eye here.
The Project Stargate Plot Twist
Adding another layer to this tech drama is The Stargate Project; a massive $500 billion AI infrastructure initiative that OpenAI is pursuing with Oracle and international investors. The project, announced by President Trump himself, aims to keep “the future of technology” in the US.
In a move that surprised absolutely no one who’s been following this saga, Musk (despite being Trump’s tech advisor) publicly questioned whether the project “actually has the money” it claims – although he hasn’t provided evidence to back up this claim.
To Be Continued…
While Altman’s X terse retort suggests the bid is dead in the water, OpenAI’s board technically has the final say. Musk’s attorney insists they’re “prepared to consider matching or exceeding” any higher offers, potentially setting the stage for an even more dramatic next episode.
For now, the tech world watches as these two former partners continue their very public sparring match, where billions of dollars are tossed around as casually as sacrificial pawns.
Don’t count on a checkmate any time soon – this rivalry has legs.
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