
OpenAI says 'not for sale' after Musk's $97 bn bid
Artificial intelligence developer OpenAI is "not for sale", a senior executive said Tuesday in response to a reported $97.4 billion bid from competitor Elon Musk.
"OpenAI is not for sale and any such suggestion is really disingenuous," the company's Chief Global Affairs Officer Chris Lehane said on the sidelines of an AI summit in Paris, dismissing the offer as coming from a competitor "who has struggled to keep up with the technology and compete with us in the marketplace".

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Syyaha
4 days ago
- Syyaha
Mozn and Saudi Anti-Fraud Association (SAFA) Join Forces to Advance Fraud Prevention and Financial Integrity across KSA
Riyadh, Kingdom of Saudi Arabia – 16 July 2025: Mozn, a regional leader in enterprise AI technologies, has entered into a strategic collaboration with the Saudi Anti-Fraud Association (SAFA), a non-profit professional association focused on fraud awareness and prevention. The partnership aims to strengthen expertise in combatting financial crime and enhancing fraud risk management. As part of the collaboration, the parties will co-host joint events, roundtables, webinars, and training sessions aimed at fostering knowledge exchange and building national capacity for risk awareness and mitigation. The collaboration was formalized through the signing of a memorandum of understanding (MoU), affirming both parties' shared commitment to advancing national efforts, promoting financial integrity and combatting fraud across the Kingdom. 'We are proud to partner with the Saudi Anti-Fraud Association and reinforce our shared commitment to building a fraud-resilient society,' said Malik Al Youssef, Co-founder and COO, Mozn. 'By working together to raise awareness, promote education, and foster a culture of integrity, we are contributing to a stronger national framework for fraud prevention. SAFA's leadership in professional development and community engagement complements our mission to support institutions and individuals in navigating today's complex fraud landscape.' 'Our collaboration with Mozn marks a pivotal step in advancing our mission to educate, equip, and protect the community against fraud', said Mohammed Al-Mudayris, CEO, SAFA. 'Together, we aim to deliver impactful training, raise public and institutional awareness, and support national efforts to uphold financial integrity and ethical conduct across the Kingdom.' While Mozn brings deep domain expertise in delivering real-time fraud detection, automated compliance and advanced risk protection through its flagship AI-powered platform, FOCAL, SAFA contributes strategic leadership in education, outreach, and professional development. Together, the two organizations form a powerful alliance to strengthen anti-fraud awareness, foster regulatory alignment, and enhance public-private collaboration. This Mozn-SAFA MoU aligns with Saudi Arabia's Vision 2030 by promoting transparency, accountability, and digital innovation in both the public and private sectors.


Daily Tribune
4 days ago
- Daily Tribune
Tesla marks India entry with first showroom
Tesla unveiled its first showroom in India yesterday, marking its entry into the world's most populous country, as Elon Musk's electric vehicle company seeks new customers amid sagging sales in the United States and Europe. The store opened its doors in India's financial capital Mumbai to select visitors after its inauguration by Maharashtra state's chief minister Devendra Fadnavis. The company -- which is targeting a niche but quickly growing electric vehicle market in India -- said that it was currently offering its Model Y car in India and would look to start rolling out deliveries of a cheaper variant later this quarter. 'This is the first launch of Tesla in India. It marks a huge milestone for Tesla globally,' said Isabel Fan, the company's senior regional director, adding that charging stations would be set up in Mumbai and the capital New Delhi shortly. While the showroom will open to the general public today, curious onlookers and Tesla admirers braved Mumbai's heavy rains to catch a glimpse of the cars on display. Tesla has for years signalled its interest in India but held back due to the country's steep tariffs on electric vehicles. Musk, who once described India as having 'more promise than any large country', has also criticised its import duties, calling t h e m among t h e 'highest in the world'. Tesla has yet to announce plans to set up a plant in India. India's nascent EV industry For now, local media reports say, the company will likely sell cars imported from China. As a result, its Model Y variants start from an on-road price of around $70,000 in India, according to its website, far higher than a US price of $37,490 after a $7,500 federal tax credit. Tesla's India debut comes at a critical time for the company, which is seeing demand wane for its cars in countries around the world. The recent slump in Tesla's sales partly reflects the highly competitive nature of the EV market, which the company once dominated but now also features BYD and other low-cost Chinese players. While Tesla is looking to tap the world's third-biggest car market , experts say it is unlikely to see huge volumes in the short-term due to the nascent nature of India's EV industry and the hefty price tag of its vehicles. India's EV market is fast-growing but remains small, with automakers reporting sales of around 100,000 vehicles in 2024 or less than three percent of total car sales. Soumen Mandal, a senior analyst at Counterpoint, said the high price tag will likely place it out of the price range of most Indian customers and see it compete against offerings from luxury carmakers instead. 'We don't expect Tesla to play the volume game right away given the price tag,' Mandal told AFP. 'We project 500-700 units sold in initial months and then that to taper off to 200-300 (per month).' India is currently negotiating a trade deal with the United States, including a potential reduction in tariffs on automobiles. In February, Musk held a oneon-one meeting with Indian Prime Minister Narendra Modi in Washington.


Daily Tribune
6 days ago
- Daily Tribune
Tesla to offer shareholders chance to invest in xAI: Musk
States Tesla will give its shareholders the option to invest in artificial intelligence startup xAI, billionaire owner of both companies Elon Musk said on his social media platform X. 'It's not up to me... We will have a shareholder vote on the matter,' Musk said in response to a social media user suggesting that the electric car maker take a stake in xAI, which recently acquired X. 'If it was up to me, Tesla would have invested in xAI long ago,' the world's richest man said. According to the Wall Street Journal, another company controlled by Elon Musk, SpaceX, will invest $2 billion into xAI as part of its $5 billion capital raise. Responding to an X user who cited the WSJ's news story, Musk said that 'it would be great' but would depend on 'board and shareholder approval.' Since the launch of xAI -- which developed the generative AI assistant Grok -- Musk has floated the potential synergies between the AI start-up and his two crown jewels, SpaceX and Tesla. According to the Financial Times, the businessman is seeking a valuation between $170 and $200 billion for xAI in a new funding round. Launched in July 2023, xAI is hoping to catch up with its major generative AI competitors, OpenAI (ChatGPT), Anthropic (Claude) and Google (Gemini). The start-up has invested heavily in a gigantic data center in Memphis, Tennessee, which Musk claims will become the 'most powerful AI training system in the world.' He has purchased another plot of land nearby to create more data centers, which are essential for developing and running large-scale artificial intelligence models. According to Bloomb - erg, xAI is costing over a billion dollars every month as it builds upgraded models, with its expenses far exceeding its revenues. xAI's virtual assistant Grok has been the source of a series of controversies. After an update on July 7, some of the chatbot's responses praised Adolf Hitler and suggested that people with Jewish surnames were more likely to spread online hate.