The dispute between arguably the two biggest names in generative artificial intelligence—billionaires Sam Altman and Elon Musk—received a new wrinkle Monday as Musk made a nearly $100 billion offer to buy the non-profit entity controlling Altman’s OpenAI, according to The Wall Street Journal.
Musk, who last year said “things that inhibit freedom of exchange or distort the market are not good,” became $11 billion poorer Monday.
Tesla stock’s rally “bore no relation whatsoever” to the company’s earnings results, according to JPMorgan.
Nvidia shares’ 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever—but the company faced another selloff Wednesday.
Altman and Musk were OpenAI’s founding co-chairs in 2015, but their relationship has devolved into name-calling and lawsuits.
Musk slammed a Trump-backed $500 billion AI joint venture building out OpenAI’s artificial general intelligence.
The biggest billionaire winner of the first day of trading in Trump’s second term was Larry Ellison, whose net worth jumped over $10 billion as his company’s stock surged.
Separately, shares of Trump’s other publicly traded eponymous entity, Trump Media & Technology Group, dropped more than 10% in the first day of trading following Trump’s inauguration.
The league, which is bankrolled by the Saudi sovereign wealth fund and shares close ties with President-elect Donald Trump, will air across Fox properties including the flagship Fox channel, FS1 and Fox Business.
Reports about Chinese officials eyeing Musk as the buyer of TikTok’s U.S. operations are “not a total shock” given Musk’s relationship with Trump, says Wedbush analyst Dan Ives.