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Elon Musk tries to disrupt the transformation of Openai
Elon Musk and a group of investors, including Vy Capital And xaimade an offer of $ 97.4 billion with a view to acquiring the assets of the non -profit branch of Openai. Presented as an attempt at buyout, this proposal is more like a maneuver aimed at disrupting the transformation of Openai into a commercial company (Public Benefit Corporation (PBC)).
A real gambit
The organization which still controls Openai is the equivalent of a non -profit association. Registered under administrative status 501 (c) (3)it has a key power on the governance of the company.
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By submitting this offer, Musk does not really seek to take control of Openai, but rather to slow down From Openai to a commercial legal form, in particular by attracting the attention of regulators and weakening the fundraising in progress. Softbank would provide a table tour $ 40 billionvaluing the company at almost $ 300 billion.
Founded in 2015 In the form of a non -profit organization, Openai had the ambition to develop an accessible artificial intelligence and the now very overused term ” ethics “. This structure aimed to ensure that IA advances are not only motivated by financial interests. However, this legal form has proven unsuitable To structure the financial dimension and attract the massive funding necessary for its development.
In 2019Openai has therefore created its commercial version, OPENAI LPwhile retaining a legal link with the non -profit structure. This hybrid organization allowed to attract capital While maintaining theoretical control over the original mission of the company. Today, this model has become a major obstacle : the non -profit structure has in particular the power to appoint and revoke the leaderspreventing OPENAI from operating as a conventional company.
Sam Altman and his team have therefore began a business transformation to a model of Public Benefit Corporation (PBC)another legal form which reconciles the commercial objectives and the mission of general interest that OPENAI wishes to pursue.
To carry out this transition, Openai must compensate The non -profit structure in order to acquire its right of control. It is in this context that Musk’s offer comes in. By offering a significant amount, it Forced Openai To justify why it would acquire these assets at a price lower than their value.
Elon Musk also reported the case to Attorneys General of Delaware and Californiawhere Openai is registered, so that the operation of transformation of OpenAi governance is scrutinized by their services.
A media stroke in the top for action on AI
Beyond the implications financial And legalMusk also plays on the media impact of his announcement. By inviting himself to the debate on the future of Openai, he imposes his own agenda and maintains the pressure on his competitor Sam Altman. The opposition between the two figures has become an element central of the debate on AI.
This confrontation between Musk and Openai will feed discussions of the second day of Summit on action for AIregistering this case on the political plan.
What scenarios for after?
If Elon Musk’s offer is refused – What Sam Altman knows as soon as he became aware of it – Openai will continue its structural transformation. However, its valuation could be challenged If administrative surveys are started.
Another possible scenario would be a Intervention of American authoritieswhich could estimate that the conversion to Pbc does not comply with the legal obligations imposed on non -profit structures. They could then require an auction assets concerned.
Such a process would delay considerably the transformation of Openai and would create a crisis For its investors, Forced to pay more in order to secure their control.
