Part 3/7:
The bid, however, complicates Altman’s plans. With OpenAI actively seeking to raise around $40 billion from investors like SoftBank, valued at up to $300 billion, Musk’s offer could disrupt the transition's valuation and control dynamics. Musk's bid specifically targets the nonprofit's assets, which raises questions about how the board of directors will respond, considering their fiduciary responsibility to act in the best interests of shareholders.
The implications of Musk's offer extend further, as it could potentially lead to a large and controlling stake in the new for-profit OpenAI by Musk or his representatives. This adds a layer of urgency to the company's negotiations with other stakeholders and investors.