Elon Musk, along with a group of investors, has proposed a US$97.4 billion offer to acquire control of OpenAI’s nonprofit entity, aiming to restore its “safety-focused and open-source” mission.

Musk, who co-founded OpenAI in 2015, has criticized its direction and ties with major investors, like Microsoft.

OpenAI CEO Sam Altman rejected the offer publicly on X, sarcastically suggesting they could instead buy Twitter, which Musk acquired in 2022, for US$9.74 billion.

The bid, first reported by The Wall Street Journal, is backed by Musk’s xAI and investors like Valor Equity Partners, Baron Capital, Atreides Management, Vy Capital, and 8VC’s Joe Lonsdale.

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