NEW YORK/PARIS: OpenAI’s board has not yet received a formal bid from an Elon Musk-led consortium, although a lawyer for the billionaire said the offer had been sent to OpenAI’s outside counsel. A day after Musk publicized a bid to offer $97.4 billion to buy the nonprofit that controls ChatGPT maker OpenAI, the two sides were still at odds over what exactly happened to the formal bid.
OpenAI’s board of directors has not yet received a formal bid from Musk’s group, a source familiar with the matter told Reuters on Tuesday, adding to the confusion over the unsolicited attempt to take control of the world’s most prominent AI company.
Musk’s lawyer, Marc Toberoff, told Reuters that he sent the offer by email on Monday to OpenAI’s outside counsel at Wachtell, Lipton, Rosen & Katz. The law firm did not immediately respond to a request for comment.
The bid — attached to an email — was in the form of a “detailed four-page Letter of Intent” to purchase OpenAI’s assets, signed by Musk and other investors and addressed to the board, Toberoff said.
“Whether Sam Altman chose to provide or withhold this from OpenAI’s other Board members is outside of our control,” he said, referring to OpenAI’s CEO.
The nonprofit that controls OpenAI is not for sale, Altman told Reuters on Tuesday when asked about Musk’s offer to buy it. The offer by the Musk-led consortium came amid the billionaire’s fight to block the artificial intelligence startup from transitioning to a for-profit firm.
“I have nothing to say. I mean, it’s ridiculous,” Altman said on the sidelines of an AI summit in Paris when asked about the offer.
“The company is not for sale. It’s another one of his tactics to try to mess with us,” Altman said, referring to Musk.
In an internal message to OpenAI employees on Monday, Altman said the board, though it had not officially reviewed the offer, planned to reject it based on the interest of OpenAI’s mission.
Musk cofounded OpenAI with Altman in 2015 as a nonprofit, but left before the company took off due to a disagreement over the company’s direction and funding sources with Altman and other co-founders. In 2023, he launched the competing AI startup, xAI. Musk, the CEO of Tesla and owner of technology company X, is a close ally of US President Donald Trump. He leads the Department of Government Efficiency, a new arm of the White House tasked with radically shrinking the federal bureaucracy.
OpenAI, in the process of raising $40 billion, is also seeking to transition into a for-profit from a nonprofit entity, which it says is required to secure the capital needed for developing the best AI models. The complicated transition involves putting a price tag on OpenAI’s nonprofit control of the for-profit arm.
Delaware Attorney General Kathy Jennings has said she is reviewing OpenAI’s proposed changes to ensure the company is “adhering to its specific charitable purposes for the benefit of the public beneficiaries, as opposed to the commercial or private interests of OpenAI’s directors or partners.”
Legal experts said Musk’s bid complicates the fair value held by OpenAI, particularly regarding charitable assets in its complicated corporate conversion, meaning the price it needs to pay in exchange for the nonprofit to give up control.
“It does help set a price point for the thinking about the valuation of the nonprofit assets,” Robert Weissman, co-president of Public Citizen, the consumer rights watchdog, told Reuters. “If it were to occur as proposed, the regulators have a duty to ensure that if there’s a selloff of assets to a for-profit entity, that fair market value is obtained.”
OpenAI’s board has not received Musk’s takeover bid, source says
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OpenAI’s board has not received Musk’s takeover bid, source says
- OpenAI’s board of directors has not yet received a formal bid from Musk’s group, a source familiar with the matter told Reuters on Tuesday
Nobel laureate Machado says US helped her leave Venezuela, vows return
- Machado emerged on a hotel balcony in Oslo to cheering supporters early Thursday
- “We did get support from the United States government to get here,” Machado said
OSLO: Nobel Peace laureate Maria Corina Machado said on Thursday that the United States helped her get to Norway from hiding in Venezuela, expressing support for US military action against her country and vowing to return home.
Machado, who vanished in January after challenging the rule of President Nicolas Maduro, emerged on a hotel balcony in Oslo to cheering supporters early Thursday after several days of confusion over her whereabouts.
“We did get support from the United States government to get here,” Machado told a press conference when asked by AFP about whether Washington had helped.
The Wall Street Journal reported that she wore a wig and a disguise on the high-risk journey, leaving her hide-out in a Caracas suburb on Monday for a coastal fishing village, where she took a fishing skiff across the Caribbean Sea to Curacao.
The newspaper said the US military was informed to avoid the boat being targeted by airstrikes. Once on the island, she took a private jet to Oslo early on Wednesday.
Machado thanked those who “risked their lives” to get her to Norway but it was not immediately clear how or when she will return to Venezuela, which has said it would consider her a fugitive if she left.
“Of course, the risk of going back, perhaps it’s higher, but it’s always worthwhile. And I’ll be back in Venezuela, I have no doubt,” she added.
Machado has been hailed for her fight for democracy but also criticized for aligning herself with US President Donald Trump, to whom she has dedicated her Nobel, and for inviting foreign intervention in her country.
- Military build-up -
The United States has launched a military build-up in the Caribbean in recent weeks and deadly strikes on what Washington says are drug-smuggling boats.
“I believe every country has the right to defend themselves,” Machado told reporters Thursday.
“I believe that President Trump’s actions have been decisive to reach the point where we are right now, in which the regime is weaker than ever, because the regime previously thought that they could do anything,” she continued.
Late Wednesday, Trump said the United States had seized a “very large” oil tanker near Venezuela, which Caracas denounced as “blatant theft.”
Maduro maintains that US operations are aimed at toppling his government and seizing Venezuela’s oil reserves.
Machado first appeared on a balcony of the Grand Hotel in the middle of the night, waving and blowing kisses to supporters chanting “libertad” (“freedom“) below.
On the ground, she climbed over metal barriers to get closer to her supporters, many of whom hugged her and presented her with rosaries.
She said she has missed much of her children’s lives while hiding, including graduations and weddings.
- ‘ Political risk’ -
Machado won the Peace Prize for “her struggle to achieve a just and peaceful transition from dictatorship to democracy.”
She has accused Maduro of stealing Venezuela’s July 2024 election, from which she was banned — a claim backed by much of the international community.
She last appeared in public on January 9 in Caracas, where she protested Maduro’s inauguration for his third term.
The decision to leave Venezuela and join the Nobel festivities in Oslo comes at both personal and political risk.
“She risks being arrested if she returns even if the authorities have shown more restraint with her than with many others, because arresting her would have a very strong symbolic value,” said Benedicte Bull, a professor specializing in Latin America at the University of Oslo.
While Machado is the ” undisputed” leader of the opposition, “if she were to stay away in exile for a long time, I think that would change and she would gradually lose political influence,” Bull said.
In her acceptance speech read by one of her daughters Wednesday, Machado denounced kidnappings and torture under Maduro’s tenure, calling them “crimes against humanity” and “state terrorism, deployed to bury the will of the people.”
