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Feb 11, 2025

Elon’s $97.4B unsolicited bid for control of OpenAI rejected by Sam Altman

Bay Area Times
Bay Area Times

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Top stories today:

  1. Elon’s $97.4B unsolicited bid for OpenAI rejected by Sam Altman
  2. New iPhone SE likely to debut today
  3. OpenAI said to finalize first custom chip design in next few months
  4. Anthropic reveals how people use Claude
  5. Trump sets 25% tariffs on steel, aluminum

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Elon’s $97.4B unsolicited bid for control of OpenAI rejected by Sam Altman

X: Sam Altman.

  • Baron Capital Group, Valor, Atreides, Vy Capital, Joe Lonsdale’s 8VC, and Endeavor CEO Ari Emanuel-led investment vehicle are part of the consortium.

  • “It’s time for OpenAI to return to the open-source, safety-focused force,” Musk’s lawyer Marc Toberoff said.

  • “OpenAI is not for sale. The OpenAI mission is not for sale,” said Altman.

  • Musk’s group has vowed to match higher bids, suggesting OpenAI may consider other offers.

  • OpenAI’s board will reportedly formally reject the offer.

  • OpenAI’s nonprofit board will need to explain why they’d accept a <$97.4B offer.

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3. New iPhone SE likely to debut today

  • iPhone 14-like design rumored.

  • $500 price expected.

  • Face ID and an A18 chip with Apple Intelligence support speculated.

  • PowerBeats Pro 2 earbuds may come alongside the new iPhone.

4. OpenAI said to finalize first custom chip design in next few months

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