Columbus McKinnon to Acquire Kito Crosby in $2.7B Deal 
DeepSeek’s AI Model Reshapes Tech, Finance, and Energy Markets 
Nokia CEO Pekka Lundmark to Step Down, Justin Hotard Named Successor 
Elon Musk’s $97.4B Bid to Acquire OpenAI Faces Rejection from Sam Altman 
Bain Capital May Withdraw Fuji Soft Bid as KKR Ups Offer 
Brookfield to Invest €20B in AI Projects Across France 
U.S. AI Policy Shift: Safety Institute Officials Absent from Paris Summit 
BoE’s Catherine Mann Warns Companies Face Pricing Challenges Amid Weak Consumer Spending 
Trump Assigns VP Vance, Adviser Waltz to Oversee Possible TikTok Sale 
Porsche SE Faces Impairments Amid Volkswagen Writedowns and China Challenges 
Malaysia’s Palm Oil Output Stays Strong Despite Flood Challenges 
Yiwu Traders Remain Resilient Amid U.S. Tariffs on Chinese Imports 
Amazon’s AI Investment Boosts Marvell Technology Shares 
Morgan Stanley Unveils "Humanoid 100" to Spotlight AI-Driven Robotics Leaders 
Xiaomi CEO Lei Jun Signals Expansion of EV Production Capacity 
BlueScope Steel Stock Rises on U.S. Tariff Expectations 
OpenAI’s board has yet to receive a formal bid from Elon Musk’s consortium, despite his lawyer claiming the offer was sent to OpenAI’s outside counsel. Musk proposed a $97.4 billion buyout for OpenAI’s nonprofit entity, aiming to block its transition into a for-profit model.
Musk’s attorney, Marc Toberoff, stated the bid was sent via email as a four-page Letter of Intent signed by Musk and investors. However, OpenAI CEO Sam Altman dismissed the offer, calling it “ridiculous” and a tactic to disrupt the company. Altman confirmed OpenAI is not for sale and that the board intends to reject the bid in favor of its mission.
Musk co-founded OpenAI in 2015 but left due to conflicts over the company’s direction. In 2023, he launched a rival AI startup, xAI. OpenAI is currently raising $40 billion to fund its AI advancements, requiring a transition to a for-profit model. This shift has drawn regulatory scrutiny, with Delaware’s Attorney General reviewing whether OpenAI’s nonprofit control is being properly valued.
Legal experts suggest Musk’s bid complicates OpenAI’s valuation, as regulators must ensure any asset sale aligns with fair market value. The ongoing battle between Musk and OpenAI underscores broader tensions in the AI sector, where financial interests and technological development are increasingly at odds.
