We’ve got some more thoughts on Elon Musk’s $97 billion hostile bid for Sam Altman’s OpenAI, which, we’re told, still hasn’t been delivered to anyone at OpenAI. Assuming an offer does show up, from a legal standpoint it’s actually dead on arrival. That’s because the board of OpenAI has no legal fiduciary duty to maximize … Read more
OpenAI’s board of directors on Friday rejected a $97.4 billion bid by Elon Musk and a consortium of investors to gain control of the artificial intelligence company, deepening a feud between Mr. Musk and OpenAI’s chief executive, Sam Altman. In a statement, Bret Taylor, the chairman of the OpenAI board, said, “OpenAI is not for … Read more
Elon Musk said in a court filing late Wednesday that he would withdraw his $97.4 billion bid to control OpenAI if the company dropped a longstanding effort to change its corporate structure. Mr. Musk and a consortium of investors had offered on Monday to buy the assets of the nonprofit that controls OpenAI, escalating a … Read more
Novo Nordisk, the Danish pharmaceutical company behind Ozempic and Wegovy, capped off a somewhat turbulent 2024, reporting profit and revenue on Wednesday that comfortably beat Wall Street expectations. But the drugmaker said it expected sales growth to slow in 2025, as competition increases. Novo Nordisk retains its title as Europe’s most valuable company, but its … Read more
Tesla’s sales in Germany plunged 59 percent in January, the month when Elon Musk, the company’s chief executive and a close adviser to President Trump, chided Germans for focusing too much on “past guilt” for Nazi-era crimes and urged voters to support a nationalist party in the country’s general election. As Mr. Musk has been … Read more
The Bank of England cut interest rates on Thursday for the third time in about six months, amid signs of weak economic growth in Britain and an unexpected slowdown in inflation. But it warned that there would be a temporary pickup in inflation and that a possible global trade war could weigh on the economy. … Read more
Rasmus Errboe, the new chief executive of the Danish offshore wind developer Orsted, sounded as if he had inherited a mess as he explained a 25 percent paring of the company’s investment plans on Thursday. Over the past two years, Orsted has backed away from some huge wind projects it planned to build off the … Read more
C. Richard Kramlich, an early investor in Silicon Valley who co-founded the investment giant New Enterprise Associates, helping to fuel the booming tech industry, died on Saturday at his home in Oakville, Calif., in the Napa Valley. He was 89. His death was announced by New Enterprise Associates. Mr. Kramlich (pronounced CRAM-lick), whose career spanned … Read more
An artificial intelligence race is heating up between the United States and China — but don’t count Europe out. That was the pitch that President Emmanuel Macron of France made on Monday as Paris hosted an A.I. summit, where government leaders, top tech executives and academic experts have gathered to discuss the hopes surrounding A.I., … Read more
European leaders vowed on Tuesday to retaliate after President Trump announced that he would raise tariffs on aluminum and steel to 25 percent, even as they held out hope for a potential deal that could stave off painful effects for a weakened economy. European Union officials have argued that Europe and the United States are … Read more