Earlier this year, Elon Musk attempted to involve Meta (META) CEO Mark Zuckerberg in a $97.4 billion takeover bid for OpenAI, the AI company that Musk co-founded in 2015 with Sam Altman. According to court filings, Musk and a group of investors made the offer in February as part of his legal battle with OpenAI. Musk reportedly contacted Zuckerberg about possible funding or investment ideas related to the deal, but the filing said that neither Zuckerberg nor Meta signed any formal agreement or actively joined the bid.
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Meta later responded in the filing by stating that there’s no evidence the company worked with Musk on the offer. Neither Meta nor OpenAI commented, and Musk didn’t respond to requests. However, if they had teamed up, it would have been surprising, since Musk and Zuckerberg have long been rivals, especially when it comes to artificial intelligence. Their public feud has included disagreements over AI’s future and even talk of a cage match.
Nevertheless, it is worth noting that Musk and OpenAI’s split dates back to 2018 due to a power struggle. Since then, Musk launched his own AI company, xAI, and has sued OpenAI for allegedly straying from its original nonprofit goals. More recently, he accused Apple (AAPL) of unfairly promoting ChatGPT in the App Store while limiting the visibility of his own chatbot, Grok. As a result, Musk called Apple’s behavior “an antitrust violation” and threatened to sue, while Apple denied the claims.
What Is the Prediction for Tesla Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 15 Holds, and eight Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $305.37 per share implies 8.9% downside risk.
