“With his bid, Musk has signaled there’s at least one group of investors willing to pay a sizable premium for OpenAI’s nonprofit wing. That puts the board of directors in a tight spot.”
Musk offered $97.4 billion for OpenAI’s nonprofit side. OpenAI was set to value its for-profit arm at $260 billion and hand the nonprofit 25%. A real bid makes a cheap transfer to insiders harder to defend. Altman offered to buy Twitter for $9.74 billion instead.