Musk Wants to Buy OpenAI: AI Token Boom

Tesla CEO Elon Musk has submitted a $97.4 billion bid to acquire the non-profit organisation OpenAI.

The bid aims to prevent the artificial intelligence company from turning into a for-profit model. The move has ignited a global debate and triggered a rally in AI-related crypto projects, including the token AI.

Musk Wants to Take Control

Musk was one of the co-founders of OpenAI, but left the company before it gained its current reputation. He is dissatisfied with the company's evolution, criticising its transition from a non-profit organisation to a for-profit structure. According to the Tesla CEO, OpenAI has strayed from its original goal of open-source development.

According to The Information, Musk said:

"It's time for OpenAI to return to being the positive, security-focused, open-source force it once was. We will make that happen."

The latest updates indicate that Musk is leading the deal, with 97.4 billion already on the table. The bid is backed by his AI startup, xAI, along with investors such as Baron Capital Group, Emanual Capital and other entities. If the merger goes through, it could redefine the landscape of competition in artificial intelligence.

However, the CEO of OpenAI, Sam Altman, blocked Musk's proposal with a sarcastic response on X, stating:

"No thanks, but if you want, we can buy Twitter for $9.74 billion."

This statement highlights the strained relationship between Musk and Altman.

Boom Of AI Projects

Musk's offer triggered a surge in crypto projects and AI tokens, signalling growing investor confidence. According to analysis, the crypto AI sector increased by 11 per cent, reaching a market capitalisation of $30 billion. In addition, the AI agent sector grew by 18%, reaching a total value of $7 billion.

Trader and investor Hodler highlighted the change in investor sentiment, predicting a resurgence in the AI-related trend:

"The AI narrative will come back. In 2025-2026 we will talk a lot about the competition between AI companies and new technologies."

Experts in the field are betting on Bittensor (TAO), calling it a "currency to watch". The token is on the rise thanks to the dTAO update. CoinGecko reports that Bittensor is up 17% with a capitalisation of $3.6 billion.

"TAO is showing impressive strength, close to a possible trendline break. As crypto AI rebounds, it presents an attractive opportunity for mid-term gains. Will TAO lead a new AI season?" analysts said.

Looking at the crypto market as a whole, a broader shift is taking place: investors are moving away from memecoins and focusing on altcoins with real-world applications. These developments indicate a preference for more mature markets, where long-term value is prioritised over short-term speculative gains.