No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Friday, June 26, 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
10 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
Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

by TheAdviserMagazine
June 26, 2026
0

On Thursday afternoon, Mark Cuban posted what amounted to an unsolicited intervention for the AI industry. “It’s time for everyone...

edit post
Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

by TheAdviserMagazine
June 25, 2026
0

Foreign investors have pulled over $60 billion out of Indian equities since October 2024, making it tougher for domestic bulls...

edit post
‘Today I am celebrating the victory of our people’: Native Americans ring in the anniversary of the Battle of Little Bighorn

‘Today I am celebrating the victory of our people’: Native Americans ring in the anniversary of the Battle of Little Bighorn

by TheAdviserMagazine
June 25, 2026
0

The quiet, wind-swept hills of the Battle of Greasy Grass, known to many as the Battle of Little Bighorn, are...

edit post
Winnebago outlines fiscal 2026 net revenue of .65B-.75B amid softer demand (NYSE:WGO)

Winnebago outlines fiscal 2026 net revenue of $2.65B-$2.75B amid softer demand (NYSE:WGO)

by TheAdviserMagazine
June 25, 2026
0

Earnings Call Insights: Winnebago Industries (WGO) Q3 fiscal 2026 Management View CEO Michael Happe said the quarter reflected “a demand...

edit post
US Stocks: Nasdaq, S&P end lower as tech megacap declines outweigh upbeat chip outlook

US Stocks: Nasdaq, S&P end lower as tech megacap declines outweigh upbeat chip outlook

by TheAdviserMagazine
June 25, 2026
0

The Nasdaq and S&P closed lower on Thursday, dragged down by losses in Big Tech shares, while the Dow closed...

edit post
Fed survey: Companies are absorbing higher oil costs, but fears of inflation continue to rise

Fed survey: Companies are absorbing higher oil costs, but fears of inflation continue to rise

by TheAdviserMagazine
June 25, 2026
0

Chief financial officers (CFOs) across U.S. companies said they’ve been able to navigate the challenges of increased energy costs as...

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
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Florida Roads Become a Battleground for Illegal Immigration

Florida Roads Become a Battleground for Illegal Immigration

June 9, 2026
edit post
Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

June 15, 2026
edit post
The 8 States That Still Tax Social Security in 2026

The 8 States That Still Tax Social Security in 2026

June 6, 2026
edit post
Perplexity Makes Its Move Into Legal, Unveiling Industry Features at ‘Computer for Counsel’ Event

Perplexity Makes Its Move Into Legal, Unveiling Industry Features at ‘Computer for Counsel’ Event

0
edit post
HOT Deals on Board Games and Puzzles! {Prime Day Deal}

HOT Deals on Board Games and Puzzles! {Prime Day Deal}

0
edit post
The quiet relief of an empty calendar

The quiet relief of an empty calendar

0
edit post
Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

0
edit post
Moderna (MRNA) Has a Cash Runway and Pipeline Story Bigger Than the Post-COVID Collapse Label

Moderna (MRNA) Has a Cash Runway and Pipeline Story Bigger Than the Post-COVID Collapse Label

0
edit post
Transgender Culture War Heats Up in FTC Suit

Transgender Culture War Heats Up in FTC Suit

0
edit post
Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

June 26, 2026
edit post
The quiet relief of an empty calendar

The quiet relief of an empty calendar

June 26, 2026
edit post
The Computer Was RIGHT About Gold

The Computer Was RIGHT About Gold

June 26, 2026
edit post
Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

June 25, 2026
edit post
What is money actually for?

What is money actually for?

June 25, 2026
edit post
IMO pauses Hormuz ship evacuation plan after vessel attack

IMO pauses Hormuz ship evacuation plan after vessel attack

June 25, 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

  • Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it
  • The quiet relief of an empty calendar
  • The Computer Was RIGHT About Gold
  • 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.