1: Altman's original plan is to create a for-profit subsidiary under the non-profit and spin it off from the non-profit, which would turn this for-profit subsidiary into a regular company.
The non-profit will be given equity share of the newly established company
2: Elon's 92B bid is only for non-profit part of the asset (and also all of nonprofit asset)
3: According to the filing, the purpose is to "ensure the proper valudation of the non-profit part of openAI" --- to translate this into layman's term, it means the non-profit OpenAI should be given a controlling part of newly formed for-profit company (>50% voting right)
4: The bid apparently is not just from Elon himself, but a consortium made from
- Musk’s own artificial intelligence company xAI (which is already valued at $80B+)
- Valor Equity Partners
- Baron Capital
- Atreides Management
- Vy Capital and 8VC, a venture firm led by Palantir co-founder Joe Lonsdale.
- Ari Emanuel, CEO of Hollywood company Endeavor, is also backing the offer through his investment fund.
