Elon Musk fumes over OpenAI becoming ‘$30B market cap for-profit’ after his $100M donation #elonmusk

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Elon Musk fumes over OpenAI becoming ‘$30B market cap for-profit’ after his $100M donation #elonmusk

Tesla’s CEO financially backed the maker of the artificial intelligence chatbot ChatGPT when it was founded in 2015. At the time, OpenAI was a nonprofit. Today, OpenAI—which switched to a hybrid “capped profit” model in 2019—has a private valuation of about $30 billion and Microsoft as a major investor.

On Wednesday, Musk tweeted, “I’m still confused as to how a non-profit to which I donated ~$100M somehow became a $30B market cap for-profit. If this is legal, why doesn’t everyone do it?”

Legal and financial aspects aside, the mercurial billionaire worries about the dangers of artificial intelligence. When A.I. expert Max Tegmark, tweeting on Wednesday night about the potential dangers of the technology, wrote, “An unregulated race to the bottom will end badly for the human race,” Musk replied, “I agree!”

At the time Musk donated to OpenAI, it wasn’t Microsoft on his mind, but Google, which had a significant lead on the A.I. front. As he tweeted last month:

“OpenAI was created as an open source (which is why I named it “Open” AI), non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft. Not what I intended at all.”
Source: https://fortune.com/2023/03/16/elon-musk-openai-non-profit-switch-30b-market-cap-for-profit-after-donation-chatgpt/

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