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OpenAI CEO Rejects Musk’s $97.4 Billion Offer: “We’re Not For Sale”

by THEFUTURE.TEAM

February 12, 2025

OpenAI, the company behind the groundbreaking ChatGPT, continues to reject a $97.4 billion offer from a consortium of investors led by Elon Musk. While OpenAI is not publicly traded, it operates under a complex structure that merges both non-profit and for-profit arms. Musk, one of the co-founders, has stated his intention to steer OpenAI back to its non-profit roots, prioritizing the development of AI to benefit humanity.

However, the timing of his bid raises questions, especially considering that Musk also owns xAI, a direct competitor to OpenAI.

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Speaking to Axios, Sam Altman, OpenAI’s CEO, described Musk as a competitor unable to outpace OpenAI in the market, thus resorting to a bid “with total disregard for the mission.”

Despite Musk’s offer, the decision over OpenAI’s future isn’t solely in Altman’s hands. Altman, who also sits on the non-profit’s board, has made it clear he does not hold any stock in the company. His vision for OpenAI’s future involves transitioning to a fully for-profit model to attract more funding for AI research.

However, OpenAI’s board will ultimately decide, and if Musk raises his offer, they may be swayed. The current bid of $97.4 billion is far below OpenAI’s valuation of $157 billion from its most recent funding round in October. Recent talks suggest OpenAI’s value has soared to $300 billion.

Musk’s attorney, Marc Toberoff, stated that the consortium is open to increasing the bid. He also asserted that, as a co-founder and tech leader, Musk is the best candidate to protect and grow OpenAI’s technology.

Musk has been building other AI ventures too, including a collaboration with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund to develop the Stargate Project—an ambitious $500 billion AI infrastructure initiative in the US.

The project, which was announced at the White House, has attracted attention as the “largest AI infrastructure project in history.” Despite this, Musk, who is a key advisor to former President Donald Trump, has claimed that the project does not have the financial backing it claims, though he has provided no details to back up the assertion.

With such high stakes, the unfolding drama over OpenAI’s future is far from over, and it’s clear that Musk’s bid is only the beginning of a complex and multifaceted competition in the AI space.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.