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Altman snubs Musk-led group's $97.4-billion offer for OpenAI

Financial Express Chandigarh

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February 12, 2025

TESLA BOSS RECENTLY CRITICISED A $500-BN PROJECT LED BY CHIP GIANT

- ARSHEEYA BAJWA, ANNA TONG & KRYSTAL HU

A consortium led by Elon Musk said that it has offered $97.4 billion to buy the nonprofit that controls OpenAI, another salvo in the billionaire's fight to block the artificial intelligence startup from transitioning to a for-profit firm.

Musk's bid is likely to ratchet up longstanding tensions with OpenAI CEO Sam Altman over the future of the ChatGPT maker at the heart of a boom in generative AI technology. Altman on Monday promptly posted on X: "No thank you but we will buy twitter for $9.74 billion if you want."

Musk co-founded OpenAI with Altman in 2015 as a non-profit, but left before the company took off. He founded the competing AI startup xAI in 2023.

WEITERE GESCHICHTEN VON Financial Express Chandigarh

Financial Express Chandigarh

SIR discrepancies: EC asked to display names in Bengal

RELIEF FOR VOTERS

time to read

1 min

January 20, 2026

Financial Express Chandigarh

At least 39 killed in Spain train crash

A VIOLENT JOLT, followed by screams, flying objects, blood and then darkness is how survivors of the train crash in southern Spain on Sunday night described the moment of impact in the high-speed collision that killed at least 39 people.

time to read

1 min

January 20, 2026

Financial Express Chandigarh

Battery energy storage sector under stress as cell prices surge

INDIA’S BATTERY ENERGY storage system (BESS) sector is facing a sharp cost reset due to the combined effect of a falling rupee, higher raw material prices and changes in China’s export policy.

time to read

3 mins

January 20, 2026

Financial Express Chandigarh

JioHotstar rolls out monthly plans from ₹79

RELIANCE'S VIDEO-ON-demand platform JioHotstar on Monday announced a revamped subscription model, introducing monthly plans across all tiers for the first time and restructuring access to international content.

time to read

1 min

January 20, 2026

Financial Express Chandigarh

Why SP Group is borrowing at distress-level rates

POOR LIQUIDITY

time to read

2 mins

January 20, 2026

Financial Express Chandigarh

Jio Arpu growth to stay muted as hikes delayed

RELIANCE JIO'S AVERAGE revenue per user (ARPU) growth is expected to remain modest in the near term as the telecom operator is unlikely to raise tariffs until after the proposed listing of Jio Platforms, analysts said.

time to read

1 mins

January 20, 2026

Financial Express Chandigarh

Malhotra calls for high governance standards at UCBs

RESERVE BANK OF India Governor Sanjay Malhotra on Monday emphasised the importance of maintaining high standards of governance and diligent oversight over asset quality during his meeting with top officials of select urban cooperative banks (UCBs).

time to read

1 min

January 20, 2026

Financial Express Chandigarh

Lenders seek policy boost as funding costs increase

GREAT EXPECTATIONS

time to read

3 mins

January 20, 2026

Financial Express Chandigarh

Plug the oversight gaps

DESIGN OF REGULATOR REFLECTS CAUTION MORE THAN COMMITMENT TO INDEPENDENCE AND ACCOUNTABILITY

time to read

4 mins

January 20, 2026

Financial Express Chandigarh

WEF flags supply chain volatility

STRUCTURAL SHIFT FORCING GOVTS & COMPANIES TO RE-EVALUATE STRATEGY

time to read

2 mins

January 20, 2026

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