Wedbush analysts believe Tesla (NASDAQ:TSLA) CEO Elon Musk's unsolicited $97.4 billion bid for OpenAI's controlling nonprofit is unlikely to succeed but is intended to slow down the company's capital-raising efforts.
The firm, led by Daniel Ives, noted that OpenAI's true valuation is closer to $300 billion, making the bid non-competitive. CEO Sam Altman quickly dismissed the offer, reaffirming that OpenAI is not for sale. The move escalates the long-standing rivalry between Musk and Altman, dating back to Musk's co-founding of OpenAI in 2015 and its transition to a for-profit entity in 2019.
Musk also sued OpenAI last year, claiming it prioritizes profits over its original nonprofit mission. OpenAI, backed by Microsoft (MSFT) and Nvidia (NASDAQ:NVDA), recently raised $6.6 billion, valuing it at $157 billion, while reports suggest SoftBank (SFTBY) may invest up to $40 billion, potentially valuing OpenAI at $260 billion. Wedbush expects OpenAI's board to formally reject the bid, but sees it as an added complication in Altman's efforts to secure further funding.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。