Last week, Tesla (NASDAQ:TSLA) CEO Elon Musk sued OpenAI and its CEO, Sam Altman, accusing the AI startup of violating its founding mission. The ChatGPT maker has fired back with a response of its own.
In a blog post, the company clarified that Musk wanted OpenAI to merge with Tesla or give him complete control. Importantly, in 2017, OpenAI and Musk agreed on creating a for-profit entity as a next step to further OpenAI’s mission. However, the Tesla leader wanted a majority stake, Board control, and to be its CEO. Additionally, he withheld funding while talks were ongoing.
Subsequently, Musk left OpenAI, noting that the probability of its success was nil. Additionally, Musk planned on creating a competing AGI (Artificial General Intelligence) within Tesla. In the lawsuit, Musk contends that the maker of ChatGPT and Sora is prioritizing profits over benefitting humanity and that its relationship with Microsoft (NASDAQ:MSFT) undermines its original aim of creating tools that are not subject to corporate objectives.
Is TSLA Stock Expected to Go Up?
For now, Musk is also raising funds for his own AI venture, xAI. Tesla’s stock price has plunged by nearly 27% year-to-date. Overall, the Street has a Hold consensus rating on Tesla alongside an average price target of $210.78. This implies a nearly 16.6% potential upside in the stock.
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