From Financial Modeling Prep: 2025-02-11 01:23:00

OpenAI’s board rejects Elon Musk’s $97 billion takeover bid, aiming to merge with xAI. Musk and Altman’s feud intensifies, with Altman humorously rejecting the offer and Musk calling him a “swindler.” Musk criticizes OpenAI for prioritizing commercial interests over its non-profit mission. Musk’s xAI develops Grok, a chatbot, as a rival to OpenAI’s GPT models.

For AI investors, OpenAI’s independence ensures industry competition. Musk’s xAI challenges OpenAI, impacting market dynamics. AI investments and M&A deals are increasing, with major players competing for dominance. In the AI industry, OpenAI’s decision shows confidence in Altman’s leadership despite Musk’s criticism. The rejection reinforces OpenAI’s commitment to monetizing AI models like GPT-4, sparking debates on AI ethics and development direction.

As the rivalry between Altman and Musk deepens, OpenAI’s rejection of the takeover bid emphasizes its independent vision. The battle between the two sides in the AI industry is ongoing, with more twists expected as they push their respective visions for the future of artificial intelligence.



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