Musk probably won’t take over OpenAI, but investors should still worry
Elon Musk’s attempts to buy OpenAI is the latest in a flood of potentially market-shaking events, which make the fortunes of the world’s biggest companies anyone’s guess.
Elon Musk’s audacious $US97.4 billion ($155 billion) bid to buy control of the non-profit arm of OpenAI that governs the ChatGPT maker, was quickly rejected by former friend-turned-nemesis Sam Altman on Tuesday morning, but its significance to markets cannot be brushed off so lightly.
Musk probably won’t get his hands on OpenAI, but his attempt embodies the chaos in the sector that should have investors nervously questioning everything they thought they knew about the artificial intelligence narrative enriching them.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
