Elon Musk gatecrashes OpenAI restructuring
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 12 February 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
Hong Kong tech stocks are flying high, Elon Musk’s nearly $100bn bid for OpenAI comes with a ton of baggage, and the EU says it will retaliate against US tariffs on European steel and aluminium exports. Plus, Sudan’s army is close to its biggest victory in a brutal two-year civil war.
Mentioned in this podcast:
China’s tech stocks enter bull market after DeepSeek
World’s largest EV battery maker files for Hong Kong listing
Elon Musk gatecrashes OpenAI restructuring
Elon Musk-led consortium offers $100bn to take control of OpenAI
EU to retaliate against US steel and aluminium tariffs
Sudan army nears biggest victory of civil war with assault on capital
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, February 12th. This is your FT News briefing. |
| 0:10.7 | Hong Kong's tech stocks are soaring right now, and Elon Musk is throwing a wrench in OpenAI's plans to restructure. |
| 0:19.9 | Plus, Sudan's two-year civil war has entered a new phase. |
| 0:24.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:43.6 | Tech companies are having a stellar week on the Hong Kong Stock Exchange. |
| 0:47.5 | Chinese tech stocks listed there have entered bull market territory. |
| 0:53.6 | The index that tracks the 30 largest companies is up 27% since about a month ago. Investors are excited because of a Chinese |
| 0:56.8 | AI startup that we've been talking about a lot lately, Deep Seek. Its model uses way less |
| 1:03.0 | computing power than its U.S. counterparts. And on top of that, the world's largest electric |
| 1:08.0 | vehicle battery maker, C-A-T-L, applied for a secondary listing there this week. It could be the world's largest electric vehicle battery maker, C-A-T-L, applied for a secondary listing there this week. |
| 1:13.8 | It could be the city's largest stock offering in years. |
| 1:23.5 | Elon Musk wants to take control of the nonprofit that governs Open AI. |
| 1:28.3 | He led a consortium of investors this week to make a nearly $100 billion offer for it. |
| 1:34.3 | That could complicate an already complicated restructuring at Open AI. |
| 1:39.3 | So why would Musk offer an absurd amount of money for a nonprofit? |
| 1:43.3 | Well, there's some history there. |
| 1:45.0 | I'm joined now by the FTEs venture capital correspondent George Hammond. |
| 1:49.0 | Hi, George. |
| 1:50.0 | Hey. |
| 1:51.0 | All right, so can you break down for us what Open AI structure is? |
| 1:56.0 | What exactly Musk and this group of investors offered? |
| 2:00.0 | So, Open AI has a really complex structure, and that's a |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.