As if Elon Musk wasn’t going well enough, his investor consortium announced plans on Monday for what appears to be an adversarial takeover of Openai.
Investor Group has provided nearly $97.4 billion to buy all Openai assets and is “ready to consider going beyond matching or higher bids,” said in a press release sent to TechCrunch It’s there.
Openai CEO Sam Altman doesn’t have it. He answered immediately with an X. “Thank you, but I’ll buy Twitter for $9.74 billion if necessary.”
The consortium includes Baron Capital Group Inc., Valor Management LLC, Atreides Management, LP, VY Fund III LP, Emmanuel Capital Management LLC, and 8 Partners VC LLC.
Emmanuel’s Capital Management has a slimmer public profile, but others are firmly on the musk track.
The Baron Capital Group, which manages multiple mutual funds, was founded by Rombaron. The Baron Partners Fund, the company he manages with his son Michael Baron, has a massive interest between Tesla and SpaceX.
The Atreides management is associated with Atreides, a Boston-based hedge fund. As previously reported, founder Gavin Baker spent 18 years at Fidelity and made his first investment in SpaceX. Atreides also invested in Tesla, and Baker was a public supporter of Musk’s huge Tesla Pay package.
Valor Management was founded by Antonio Gracias, an Early SpaceX investor and former Tesla director. He was also an investor in mask solar science before Tesla acquired it.
Founded by Alexander Tamas, Vy Capital also has a stake in SpaceX and invests in many other musk companies, including boring companies and Neuralink.
According to the public, the eight partner VCs are well known as Joe Lonsdale’s company 8VC. Lonsdale is a vocal fan of Musk and runs in a similar circle. He recently appeared on CNBC, known as the “big fan” of Musk’s Doge.
It is not yet clear how serious this group is. A plausible analysis that pops up on the internet is that this is just as trolling as an offer. Some say this is Musk’s attempt to raise the price that Altman’s team has to pay to buy the underlying assets of Openai.
Musk is part of the establishment of Openai as a non-profit AI research institute, and Musk is about to suspend Altman’s restructuring plans.
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