No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Saturday, October 25, 2025
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
2 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
Insiders Are Scooping Up Shares of a Miner, a Driller, and a Biotech

Insiders Are Scooping Up Shares of a Miner, a Driller, and a Biotech

by TheAdviserMagazine
October 25, 2025
0

Denys Yelmanov / iStock via Getty Images While insider buying is typically slower when markets are near all-time highs and...

edit post
I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

by TheAdviserMagazine
October 25, 2025
0

When I was an aerospace engineer working on the NASA Space Shuttle Program, trust was mission-critical. Every bolt, every line...

edit post
Bharat Rasayan board okays stock split, issue of bonus shares

Bharat Rasayan board okays stock split, issue of bonus shares

by TheAdviserMagazine
October 25, 2025
0

Agro-chemical firm Bharat Rasayan's board has approved the sub-division of its equity shares and issue of bonus shares in a...

edit post
Meet the billionaire couple who not only signed The Giving Pledge but actually delivered—donating nearly half their fortune while still alive

Meet the billionaire couple who not only signed The Giving Pledge but actually delivered—donating nearly half their fortune while still alive

by TheAdviserMagazine
October 25, 2025
0

The Giving Pledge was designed to hold the world’s richest people accountable for donating at least half their fortunes in...

edit post
A click lower, a tick higher

A click lower, a tick higher

by TheAdviserMagazine
October 25, 2025
0

Mortgage rates are wavering slightly today. According to Zillow, the average 30-year fixed mortgage rate has edged down four basis...

edit post
Markets pricey with modest EPS growth; autos, hospitality offer opportunities: Venkatesh Balasubramaniam of JM Financial

Markets pricey with modest EPS growth; autos, hospitality offer opportunities: Venkatesh Balasubramaniam of JM Financial

by TheAdviserMagazine
October 25, 2025
0

Venkatesh Balasubramaniam of JM Financial shared a comprehensive view of the Indian equity markets, highlighting the challenges and opportunities amid...

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
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

October 9, 2025
edit post
I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

0
edit post
A Brief History of the Enduring American Embargo against Cuba

A Brief History of the Enduring American Embargo against Cuba

0
edit post
Starboard aims to unlock the value of Fluor’s investment in nuclear tech company NuScale

Starboard aims to unlock the value of Fluor’s investment in nuclear tech company NuScale

0
edit post
UK crypto investors face crackdown on unreported gains 

UK crypto investors face crackdown on unreported gains 

0
edit post
Arizona Heat, Bigger Bills: 7 Utility Hacks That Actually Cut Costs for Fixed-Income Retirees

Arizona Heat, Bigger Bills: 7 Utility Hacks That Actually Cut Costs for Fixed-Income Retirees

0
edit post
Hotstocks KW 43 / 2025 – Solaraktien für mehr Sonne im Depot!

Hotstocks KW 43 / 2025 – Solaraktien für mehr Sonne im Depot!

0
edit post
A Brief History of the Enduring American Embargo against Cuba

A Brief History of the Enduring American Embargo against Cuba

October 25, 2025
edit post
Hotstocks KW 43 / 2025 – Solaraktien für mehr Sonne im Depot!

Hotstocks KW 43 / 2025 – Solaraktien für mehr Sonne im Depot!

October 25, 2025
edit post
Insiders Are Scooping Up Shares of a Miner, a Driller, and a Biotech

Insiders Are Scooping Up Shares of a Miner, a Driller, and a Biotech

October 25, 2025
edit post
UK crypto investors face crackdown on unreported gains 

UK crypto investors face crackdown on unreported gains 

October 25, 2025
edit post
I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

I helped design rocket engines for NASA’s space shuttles. Here’s why businesses need AI as trustworthy as aerospace tech

October 25, 2025
edit post
Arizona Heat, Bigger Bills: 7 Utility Hacks That Actually Cut Costs for Fixed-Income Retirees

Arizona Heat, Bigger Bills: 7 Utility Hacks That Actually Cut Costs for Fixed-Income Retirees

October 25, 2025
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

  • A Brief History of the Enduring American Embargo against Cuba
  • Hotstocks KW 43 / 2025 – Solaraktien für mehr Sonne im Depot!
  • Insiders Are Scooping Up Shares of a Miner, a Driller, and a Biotech
  • 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.