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Elon Musk urges state AGs to facilitate OpenAI asset auction amid restructuring plans

share-iconSaturday, January 11 comment-icon3 weeks ago 11 views
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Elon Musk urges state AGs to facilitate OpenAI asset auction amid restructuring plans

Credited from: SCMP

  • A lawyer representing **Elon Musk** has requested the attorney generals of **California** and **Delaware** to facilitate the auction of a stake in **OpenAI**.
  • The intent is to assess the **fair market value** of OpenAI's charitable assets during its restructuring efforts.
  • This move comes as Musk's attorney claims it is necessary to protect the **public’s beneficial interest** amid changes in OpenAI’s corporate structure.
  • OpenAI, which is valued at **US$157 billion**, plans to transition into a **public benefit corporation** to enhance its capital-raising capabilities.
  • Musk is actively pursuing legal action against OpenAI regarding its restructuring, asserting that it deviates from the original mission he supported.

For the full article, visit SCMP.

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Elon musk Openai Attorney general Auction Corporate restructuring Artificial intelligence
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