Filing: OpenAI says Elon Musk's $97.4B bid contradicts his attacks in his lawsuit against OpenAI that its assets can't be “transferred away” for “private gain”
The public showdown between Elon Musk and OpenAI Chief Executive Officer Sam Altman over Musk's $97.4 billion bid …
Bloomberg Malathi Nayak
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Discussion
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@danprimack
Dan Primack
on x
Source tells me that OpenAI's board yesterday afternoon received the buyout offer letter from @elonmusk. Neither the board, company, bankers, nor lawyers had seen it until the original WSJ story on Monday.
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@danprimack
Dan Primack
on x
Don't really understand the Musk “withdrawal” offer to OpenAI. 1/ It presumes he has leverage. Still don't see it. Only way the board takes his deal is if it wants Musk more than Altman, which seems highly unlikely given the composition. This isn't a typical fiduciary situation.
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@danprimack
Dan Primack
on x
3/ Some have said Musk's bid sets a price floor that Altman must now clear. Maybe. But Altman could certainly do so given the new valuation from SoftBank — since the negotiations at the moment are for stock percentage, not defined-value cash.