Sam Altman Says Elon Musk's $97B Bid For OpenAI Is A Move To 'Slow Down A Competitor'

An investor group led by Elon Musk has proposed a $97.4 billion bid to take control of OpenAI, a move that OpenAI’s CEO, Sam Altman, thinks may be an attempt to “slow down a competitor.”

What Happened: Altman cast doubt on Musk’s true intentions behind the bid. He dismissed the notion that Musk was genuinely interested in acquiring OpenAI, stating, “Not particularly”, in an interview with CNBC on Tuesday

Altman believes that Musk’s bid could be a strategic maneuver to hinder a competitor and gain an advantage with his own AI company, xAI. The $97.4 billion offer, confirmed by CNBC on Monday, is for the nonprofit that supervises the artificial intelligence startup responsible for ChatGPT.

Musk’s legal representative, Marc Toberoff, confirmed that the offer was submitted on Monday, adding, “It’s time for OpenAI to return to the open-source, safety-focused force for good it once was.”

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Why It Matters: Elon Musk, who co-founded OpenAI, had previously departed from the company in 2018 over disagreements about its direction. His current bid comes as OpenAI transitions to a for-profit structure, a move Musk has legally challenged.

Founder of Telluride Legal Strategies, Rob Rosenberg indicated that Musk’s actions might create challenges for OpenAI as it seeks to shift away from its non-profit status, as per Bloomberg. Musk and Altman have been engaged in a prolonged dispute. In August, Musk also filed a lawsuit against OpenAI calling its partnership with Microsoft Corporation MSFT a ‘monopoly’ aiming to eliminate competitors.

OpenAI’s AI-powered chatbot, ChatGPT, has recently surpassed Musk’s X in web traffic, ranking as the sixth most-visited website globally in January 2025. This could potentially be a factor in Musk’s bid for control of the company.

• READ MORE: Sam Altman’s OpenAI Set To Finalize In-House AI Chip, Reducing Dependence On Nvidia: Report

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.