No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, April 2, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Musk approached Meta’s Zuckerberg for help in xAI’s attempted OpenAI takeover, filing shows

by TheAdviserMagazine
7 months ago
in Business
Reading Time: 3 mins read
A A
Musk approached Meta’s Zuckerberg for help in xAI’s attempted OpenAI takeover, filing shows
Share on FacebookShare on TwitterShare on LInkedIn



There’s apparently some truth to the saying, “The enemy of your enemy is your friend.”

Elon Musk approached Meta CEO Mark Zuckerberg earlier this year, asking him to help finance xAI’s bid to buy Sam Altman’s OpenAI, according to a court filing released Thursday. The call for help came after a long history of tension between the tech superstars.

After founding OpenAI with Altman in 2015, Musk has taken issue with OpenAI’s closed-source model and its push to become a for-profit entity. Thursday’s filing is part of an ongoing lawsuit Musk filed against OpenAI in federal court in Northern California in August 2024, alleging OpenAI breached its initial contract by favoring business interests over its initial commitment to benefiting humanity. 

Musk doubled down on efforts that were interpreted as preventing OpenAI from rapid growth, making an unsolicited attempt to buy the company for $97.4 billion in February. Beyond the OpenAI board unanimously rejecting the offer, OpenAI called the effort a “sham bid” designed to impede the company’s funding efforts.

Earlier this month, a judge allowed OpenAI to move forward with counterclaims against Musk. On Thursday as part of the claims, OpenAI said in a statement to the court that Musk had approached Zuckerberg regarding a letter of intent “about potentially financial arrangements or investors” in a bid for a hostile takeover of OpenAI. Neither Meta nor Zuckerberg signed the letter of intent, according to the filing.

The filing also subpoenaed Meta to disclose documentation of correspondence with Musk or xAI regarding an intent to buy the startup.

Beyond feeling as though OpenAI had strayed from the mission he helped create for it, Musk had other reasons to want to best the company. He left the startup’s board in 2018, the year before Microsoft pumped $1 billion into the company. Months after Microsoft announced another $10 billion investment in OpenAI in 2023, Musk unveiled xAI as an alternative to ChatGPT.

“I don’t disagree necessarily with his viewpoint that the restructuring of OpenAI as a for profit company is probably not good for humanity,” Amelia Martella, adjunct professor and executive director of Fordham University’s Corporate Law Center, told Fortune. “At the same time, he is probably looking to control all of the successful AI companies. So there’s a mixed motive for sure.”

Meta’s next moves

Meta, on the other hand, has carried out its own campaign to gain an edge over OpenAI, restructuring its AI division with a focus on building a superintelligence team and poaching key AI architects, including former OpenAI employees. According to Altman, Meta offered $100 million signing bonuses to recruit talent from its rival.

Musk’s own apparent approach to Zuckerberg in his bid for OpenAI defies nearly a decade of hostility between the two tech founders, beginning in 2016 when a SpaceX rocket explosion destroyed a Facebook satellite on board. The beef continued through last year, when Musk challenged Zuckerberg to a cage match.

Meta objected to the request for documents as “overly burdensome,” according to the filing. 

“Meta’s documents can hold no evidence of ‘coordination’ with Musk, or of Meta’s purported attempt to purchase OpenAI, or of any other relevant information when Meta did not join Musk’s bid,” Meta’s statement in the court filing said. “Meta’s communications (if any) with entities that did join the bid also hold little to no relevance, and in any event, should be sought from those entities, not Meta, which did not participate.”

Meta and Musk’s attorney Marc Toberoff did not respond to Fortune’s request for comment.

Meta will likely try to narrow the scope of the subpoena because it takes effort and time to turn over documentation, and because the company may feel OpenAI’s grievances should remain with Musk, Martella said.

“Musk is leading the charge here. That’s not surprising,” she said. “We don’t know what [Meta’s] role is here and how far along in the process they’ve gotten, so they may just not want to bother fully responding to subpoenas when they have not really been the one leading the charge.”

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.



Source link

Tags: approachedAttemptedfilingMetasMuskOpenAIshowstakeoverxAIsZuckerberg
ShareTweetShare
Previous Post

Court approves Ripple, SEC’s stipulation to dismiss appeal in XRP case

Next Post

The Wild, Wild West of legal tech

Related Posts

edit post
Trump wants to add nearly T to the T national debt with military budget, watchdog warns

Trump wants to add nearly $7T to the $39T national debt with military budget, watchdog warns

by TheAdviserMagazine
April 2, 2026
0

Budget hawks in Washington have their eyes trained on April 3, when the White House is scheduled to release its...

edit post
Long-term mortgage rates hit their highest level in about seven months (XLRE:NYSEARCA)

Long-term mortgage rates hit their highest level in about seven months (XLRE:NYSEARCA)

by TheAdviserMagazine
April 2, 2026
0

Apr 02, 2026, 12:19 PM ETState Street Real Estate Select Sector SPDR ETF (XLRE), XHB, ITB, MBB, PKB, NAIL, VMBS,...

edit post
Current price of oil as of April 2, 2026

Current price of oil as of April 2, 2026

by TheAdviserMagazine
April 2, 2026
0

By 10:15 a.m. Eastern Time today, oil had reached $111.69 per barrel, measured using the Brent benchmark. That’s $6.83 more...

edit post
Universal Display macro concerns are discounted, says Roth Capital

Universal Display macro concerns are discounted, says Roth Capital

by TheAdviserMagazine
April 2, 2026
0

Roth Capital keeps a Buy rating and a $180 price target on Universal Display (OLED). Headwinds continue to swirl around...

edit post
President Trump’s speech on Iran war hails ‘tremendous progress’ but Wall Street hears ‘escalation’

President Trump’s speech on Iran war hails ‘tremendous progress’ but Wall Street hears ‘escalation’

by TheAdviserMagazine
April 2, 2026
0

SpaceX—valued at $1.75 trillion—has confidentially filed with the SEC to stage an initial public offering of an estimated $75 billion...

edit post
Buy selectively, focus on resilient sectors despite volatility: Manish Sonthalia

Buy selectively, focus on resilient sectors despite volatility: Manish Sonthalia

by TheAdviserMagazine
April 2, 2026
0

Indian markets are navigating a tricky environment as geopolitical tensions and global inflationary pressures create uncertainty for investors. Manish Sonthalia...

Next Post
edit post
The Wild, Wild West of legal tech

The Wild, Wild West of legal tech

edit post
History shows colossal capex from AI giants like Amazon and Meta could lead to underperformance in their stock

History shows colossal capex from AI giants like Amazon and Meta could lead to underperformance in their stock

  • Trending
  • Comments
  • Latest
edit post
Massachusetts loses billions in income after millionaire tax

Massachusetts loses billions in income after millionaire tax

March 24, 2026
edit post
Illinois’ Paid Leave for All Workers Act Takes Effect — Every Employee Now Gets Guaranteed Time Off

Illinois’ Paid Leave for All Workers Act Takes Effect — Every Employee Now Gets Guaranteed Time Off

March 27, 2026
edit post
Virginia Permits ADULT MIGRANT MEN To Attend High School

Virginia Permits ADULT MIGRANT MEN To Attend High School

March 30, 2026
edit post
A 58-year-old left NYC for Miami to save on taxes — then retired early thanks to hidden savings. Here’s the math

A 58-year-old left NYC for Miami to save on taxes — then retired early thanks to hidden savings. Here’s the math

March 30, 2026
edit post
Publix to Open 5 New Stores by End of April. See Upcoming Locations.

Publix to Open 5 New Stores by End of April. See Upcoming Locations.

March 20, 2026
edit post
Hospitals in This State Routinely Sue Patients Over Unpaid Bills

Hospitals in This State Routinely Sue Patients Over Unpaid Bills

March 27, 2026
edit post
Why tax season is turning into a debt trap for Canadians (and how to avoid it)

Why tax season is turning into a debt trap for Canadians (and how to avoid it)

0
edit post
Oil Price Today (April 2): Oil jumps 5% to cross 6/barrel after Trump’s comments erase de-escalation hopes

Oil Price Today (April 2): Oil jumps 5% to cross $106/barrel after Trump’s comments erase de-escalation hopes

0
edit post
Can’t Pay Taxes? When to Seek Tax Relief 

Can’t Pay Taxes? When to Seek Tax Relief 

0
edit post
Fed Governor Miran still backs cuts, says interest rates could be ‘about a point’ lower this year

Fed Governor Miran still backs cuts, says interest rates could be ‘about a point’ lower this year

0
edit post
There Is No Property-Rights Case for Birthright Citizenship

There Is No Property-Rights Case for Birthright Citizenship

0
edit post
Canton Crypto Price Prediction – Is $CC a Strong Buy For 2026?

Canton Crypto Price Prediction – Is $CC a Strong Buy For 2026?

0
edit post
Trump wants to add nearly T to the T national debt with military budget, watchdog warns

Trump wants to add nearly $7T to the $39T national debt with military budget, watchdog warns

April 2, 2026
edit post
Polymarket taps Pyth to power stock, commodity, and index prediction markets

Polymarket taps Pyth to power stock, commodity, and index prediction markets

April 2, 2026
edit post
There Is No Property-Rights Case for Birthright Citizenship

There Is No Property-Rights Case for Birthright Citizenship

April 2, 2026
edit post
Foreign LLC: Definition, Requirements & How to Register

Foreign LLC: Definition, Requirements & How to Register

April 2, 2026
edit post
Synergy CHC Corp. (SNYR) Q4 Earnings: Misses on EPS, Revenue Recap

Synergy CHC Corp. (SNYR) Q4 Earnings: Misses on EPS, Revenue Recap

April 2, 2026
edit post
Chart of the Week: The AI Boom Is Moving Into the Real World

Chart of the Week: The AI Boom Is Moving Into the Real World

April 2, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Trump wants to add nearly $7T to the $39T national debt with military budget, watchdog warns
  • Polymarket taps Pyth to power stock, commodity, and index prediction markets
  • There Is No Property-Rights Case for Birthright Citizenship
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.