Elon Musks Stunning New Announcement. "Im Buying OpenAI"

So this video will cover the incredible plan for Elon Musk to actually take back control of OpenAI. If you aren't familiar with why this story is so incredible, it's because OpenAI was actually initially founded by Elon Musk in the early days of the creation. And there has been so much debate around whether or not OpenAI is going to be able to continue in its current form. And this is the latest piece of news regarding exactly how OpenAI are managing to continue as an organization. They've been through many different things, but this is something that is super interesting. So you can see here from the Wall Street Journal. We got that Elon Musk led group makes a $97.4 billion bid for control of OpenAI. And it says an unsolicited offer complicates Sam Altman's plans to convert OpenAI to A for profit company. So this is pretty crazy considering the fact that, you know, OpenAI have gone through many different changes in terms of their company structure and other things as well, including, you know, Sam alw fired. But this latest move from Elon Musk, I think this is something a little bit different in terms of what he's trying to achieve here. I'm not sure what kind of plan he's got here, but it definitely looks like this is some kind of mind game because we all know that there's no way that Sam Altman would accept such an offer considering that him and Elon Musk have had significant spats in the past. You can see right here, it says the unsolicited offer at a major complication to Altman's carefully laid plans for OpenAI's future, including converting it to a for profit company. This is something that OpenAI had wanted to do in the past. They wanted to convert it to a for profit company. And of course, Elon Musk actually filed a lawsuit to stop them. You can see right here, it says he and Musk are already fighting in court over the direction of OpenAI, which is of course, you know, his lawsuit does seem to have some steady ground. A few things were broken in terms of agreements that, you know, Sam Altman and OpenAI agreed on. And, and they initially broke those agreements because it was essentially a charity at the start. They funded it with all of those charity donations and now it's like a publicly traded company. He says it's time for OpenAI to return to the open source, safety, focused force for good it once was. This is what Musk said in a statement provided by the investment group and we will make sure that this happens. Now, it's pretty interesting. Okay, they're saying that we will make sure that this happens, which, I mean, we'll. When we look into the details, it seems that Elon Musk isn't giving up with this kind of lawsuit. It seems that even whilst he's building X AI, it seems like he's still hell bent on trying to get back OpenAI. And I'm not sure how that's going to work in the court of law, but I do think it will be interesting to see how certain things play out. I can also see here, I wanted to actually introduce this because we actually need to look at OpenAI's valuation. I don't understand why they would submit a $97.4 billion valuation, not valuation, but like offer, when OpenAI is actually valued at $260 billion. That's what sources are saying. So SoftBank recently was set to invest $40 billion in OpenAI at its $260 billion valuation. But if now, you know, Elon Musk is trying to buy it for $97.4 billion, I'm not sure if that offer would even be up to the mark. I'm not saying that Elon Musk certainly doesn't have the wealth to be able to buy OpenAI, but. But considering the fact that every single month OpenAI increases in terms of its value, it's going to be really pretty difficult to figure out exactly how much OpenAI is valued at. Now, if you are wondering, well, you know, Sam Altman did respond and he responded in a very, very cheeky way that Elon Musk wasn't too fond of. He said, no, thank you, but we will buy Twitter for 9.74 billion billion if you want. So that's pretty hilarious because they submitted an offer for OpenAI for $97.4 billion and then he's like, no, thank you, but we will buy Twitter for $9.74 billion if you do want. So of course, Sam Altman once again taking shots at Elon Musk. And again Elon Musk responds saying swindler. And this wasn't the only tweet that he said. As you may know, in the past, Elon Musk has a nickname that he likes to frequently call Sam Altman. It's actually a play on and he actually calls Sam Altman scam Altman. Now, there's a variety of reasons that people don't trust OpenAI or Sam Altman. And one of the reasons is surrounding the structure of OpenAI and how that structure could potentially benefit Sam Altman in the future. So if you aren't familiar with this clip right here, this clip is where Sam Altman is speaking. I'm not sure if it's the US Congress or some politicians, but they are essentially talking about AI safety and how dangerous this technology is going to be in the future. And they ask him, does he have any equity in the company? To which Sam Altman responds, I have no equity in the company. I do this because I love it. And then of course, it was, you know, to be revealed that potentially there was going to be some equity that Sam Altman would be getting from OpenAI.

You make a lot of money, do you?

I make no. I paid enough for health insurance. I have no equity in OpenAI.

Really? That's interesting.

And then this is where we had Elon Musk actually retweet this, which is where he spoke about this entire fiasco in a interview with Tucker Carlson where he basically clearly says that, look, I don't trust OpenAI at all. And he's not the only one that said that. But it's definitely interesting to hear him flat out plainly say that, look, I do not trust OpenAI. I genuinely do not trust what they're doing. They're an untrustworthy company and they've changed the original mission of When I founded.

The company, I don't trust OpenAI. I mean, you know, I started that company as a nonprofit. Open source. Yes, the open in OpenAI. I named the company, yeah, OpenAI as an open source. And it is now extremely closed source and maximizing profit. So does Risky. I don't understand how you actually go from being an open source nonprofit to a closed source for maximum profit organization. I'm missing.

Well, but Sam Altman got rich, didn't he?

At various points he's claimed not to be getting rich, but he's claimed many things that were false. And now apparently he's going to get $10 billion of stock or something like that. So I don't trust Sam Altman. I and I don't think we want to have the most powerful AI in the world controlled by someone who is not trustworthy.

Now, in his defense, Sam Altman has said certain things. He said that, you know, he had no plans to take an equity stake in OpenAI as the board considers its pro profit structure. That's what he said. And he basically says that, look, if I could go back in time, I would have taken equity just some little bit, just to never have to answer this question. Again, Altman said at DealBook. So this was something that Sam Altman has told people that he wishes he did take equity because a lot of people were thinking that he's going around the books trying to say that, look, no, I don't have equity, I'm not gaining equity, yada yada yada. But overall, I think it's a situation that is pretty complex considering the structure of OpenAI. I don't think that OpenAI initially did this. They were like, okay, we're going to start the company as a for profit. Initially, when they even released ChatGPT, they didn't really think that, you know, the rate of growth would be nearly as high as it is. And I think this is a situation where they may have built something, they may have started with good intentions and then overall they may have realized that potentially to even sustain the project, they might actually have to become a for profit. So, I mean, I can see it from both perspectives, but I think the point now, to the point where you have these two CEOs going on Twitter, one calling the other a swindler and the other one saying that, look, I can just buy your, you know, social media site if you want. I do think that this is a little bit more of a spat now rather than an actual discussion to the company because I do think at one point it would have potentially been possible for those companies to merge because they did talk about merging Tesla and OpenAI, but they were saying that Elon Musk himself, he wanted too much control. That would be dangerous given the kind of technology that they were building. Overall, there are so many different things that have gone on. There has been threads and threads and threads, threads. But I will say that this story is definitely entertaining. Now, in addition, one of the things that they did state, okay, the investor group is prepared to match any bids that are higher than their own. And they say that if Sam Altman and the present OpenAI board of directors are intent on becoming a fully for profit corporation, it is vital that the charity be fairly compensated for what leadership is taking away with it control over the most transformative technology. Now, I do think it's going to be super interesting to see what happens. I do wonder that, like it's if OpenAI becomes a publicly traded company, are investors like X AI going to buy most of the shares? I mean, probably that wouldn't happen, but I mean, I do wonder if there's going to be a variety of different things that happen if OpenAI can even manage to become a publicly traded company, considering the amount of lawsuits that are in the way of that, especially the one basically stopping them. Elon Musk, I think he filed an injunction. I'm not entirely sure, but he definitely filed something that would slow down the the process of them becoming a for profit. Either way is super interesting because we know that with this kind of competition, Elon Musk is definitely going to be firing up something for Grok3. So that being said, let me know what you think about the future of AI. Do you think Elon Musk is ever going to manage to get back his company? Or do you think that Sam Altman and OpenAI are completely in the window?