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Elon Musk Leads $97.4 Billion Bid For OpenAI Control, Sparking Tensions With Sam Altman

by THEFUTURE.TEAM

February 11, 2025

Elon Musk is at the forefront of a $97.4 billion bid to acquire the assets of the nonprofit that controls OpenAI, further intensifying his ongoing clash with OpenAI CEO Sam Altman. The group backing Musk’s bid includes Vy Capital, Xai (Musk’s AI company), Hollywood mogul Ari Emanuel, and other investors.

This move represents Musk’s latest attempt to take control of an organization he co-founded nearly a decade ago. However, the bid faces strong resistance, as OpenAI’s board is closely aligned with Altman, who swiftly dismissed Musk’s offer with a pointed remark: “No thank you but we will buy Twitter for $9.74 billion if you want.” Musk responded with a sharp “Swindler.”

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Despite the tense exchange, Musk’s offer complicates OpenAI’s plans to complete a $40 billion fundraising round, which would nearly double the company’s valuation to $300 billion. Led by SoftBank, this deal would position OpenAI among the world’s most valuable private companies, alongside Musk’s SpaceX and ByteDance, the parent company of TikTok.

OpenAI’s board of directors, which remains loyal to Altman, may need to deal with the complex challenge of compensating the nonprofit that controls OpenAI if they move ahead with Musk’s bid. OpenAI, with over 2,000 employees, is structured with a nonprofit board that has legal control despite its limited resources, with only two employees and $22 million in assets.

Musk’s bid could force OpenAI to pay a high price for separating from the nonprofit board, which has led to legal scrutiny. In the eyes of many experts, Musk’s proposal is an effort to set the nonprofit’s assets at a very high value, which would create challenges for OpenAI’s move to full independence. The nonprofit’s board must ensure that the sale of assets is at fair market value, or they could face questions from charity regulators.

Musk’s aggressive approach signals his intent to reshape the AI industry, with his own AI company, Xai, directly competing with OpenAI. At the same time, Altman has garnered significant support in Washington, securing investments and backing from major players like SoftBank and Oracle.

The ongoing battle for control of OpenAI illustrates the high stakes involved in the race for artificial intelligence supremacy, with Musk and Altman at the center of a high-profile tech showdown.

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Cyprus Remains Among EU’s Lowest Renewable Electricity Producers

Cyprus remained among the European Union’s weakest performers in renewable energy adoption in 2025, with renewables accounting for 27.5% of gross electricity consumption, according to new data published by Eurostat.

Across the EU, renewable sources supplied 49.9% of gross electricity consumption last year, bringing the bloc close to generating half of its electricity from renewable energy.

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Cyprus Remains Among The EU’s Lowest Performers

Cyprus ranked among the EU countries with the lowest share of renewable electricity, ahead of only Malta at 11.2%, the Czech Republic at 19.2%, Luxembourg at 23.3% and Slovakia at 24.1%.

Across the country’s broader energy system, renewables accounted for 21.5% of gross final energy consumption in 2025.

EU Renewable Electricity Continues To Grow

Renewables supplied 49.9% of gross electricity consumption across the EU in 2025, up from 47.5% a year earlier. Since Eurostat began collecting comparable data in 2004, the share has risen from 15.9%.

Austria recorded the highest share at 90.8%, followed by Sweden at 89.2%. Denmark generated 77.7% of its electricity from renewable sources, followed by Portugal at 65.6%, Greece at 60.9% and Spain at 60.7%.

Overall Energy Transition Still Has Work Ahead

Renewables accounted for 26.2% of the EU’s gross final energy consumption in 2025, up from 25.2% in 2024 and 9.6% in 2004.

Despite the increase, the bloc remains below its legally binding target of 42.5% by 2030. According to Eurostat, achieving that goal will require an average annual increase of 3.3 percentage points between 2026 and 2030.

Sweden recorded the highest overall renewable energy share at 65.4%, followed by Finland at 53% and Denmark at 48.2%. Belgium recorded the lowest share at 14.9%, followed by Slovakia at 16.3% and Ireland at 17.2%.

Heating And Cooling Also Show Steady Progress

Renewable energy accounted for 27.4% of heating and cooling across the EU in 2025, the highest level since comparable records began in 2004. The share increased by 0.7 percentage points from 2024, slightly below the long-term annual average increase of 0.75 percentage points.