Tech billionaire Elon Musk has set his sights on acquiring OpenAI, making a massive bid to take control of the artificial intelligence powerhouse.

According to foreign media reports, a special group led by Musk has offered $97.4 billion to take over OpenAI.

This move comes after Musk recently filed a lawsuit to prevent the company from becoming a for-profit entity.

Musk attorney Marc Toberoff said he submitted the bid to OpenAI’s board of directors, according to the media report.

Musk originally co-founded OpenAI in 2015 but parted ways with the company in 2019. In 2023, he launched his own AI venture, xAI, which is actively working to make its mark in the artificial intelligence industry.

Reports suggest that Musk’s takeover bid could further escalate tensions between him and OpenAI CEO Sam Altman, as both have clashed over the company’s direction in the past. OpenAI remains one of the leading players in AI development.

However, Altman’s response to Musk’s bid was laced with sarcasm. Taking to X (formerly Twitter), he quipped: “No thank you, but we will buy Twitter for $9.74 billion if you want.”

In response, Musk reiterated his stance that OpenAI should return to its original mission of prioritising safety and openness in AI development rather than focusing on commercial gains.