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Time Details
2025-02-26
14:41
Elon Musk's $97.4 Billion Bid for OpenAI Rejected, Impacting Future Plans

According to DeepLearning.AI, Elon Musk and other investors made an unsolicited $97.4 billion bid to acquire OpenAI's nonprofit entity assets, which the board quickly rejected. This action has introduced complications to OpenAI's future strategic plans, as the board's decision reflects a firm stance on maintaining its current operational integrity. Sam Altman's response, mocking Musk's offer by proposing to buy Musk's company X for a fraction of its value, highlights the tensions between the parties. Traders should note the potential impact on market perceptions of both entities, especially concerning future investments and strategic directions.

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