John Elkann is interested in OpenAI (which launched ChatGpt), the four clues
If three clues make a proof, four make an even bigger one: John Elkann is interested in OpenAI, the company founded by Sam Altman that launched ChatGpt.
But what are these three clues? The first, Altman’s invitation to the Tech Week which has just ended. A particular character, the 39-year-old computer scientist, very shy and not at all fond of the spotlight. To agree to come to Turin, not exactly Las Vegas, means that something important is moving.
Second clue: to talk to Altman it was not the director of Repubblica, Maurizio Molinari, who was called, but Elkann himself. Who thus showed particular care towards the former Stanford student.
Third clue: the editorial staff of Repubblica he waged war on his now former director on multiple topics. From excessively pro-Israeli positions to the “silence” on some news that is inconvenient for the publisher. But Elkann always kept the former special envoy to New York in his place. Then, suddenly, with a sponge stroke he removed it. When? When he was unable to prevent the 48-hour strike, coinciding with Tech Week, which paralyzed the newspaper. The reasons were of a commercial nature: journalists complained that the initiative had been designed to sell paid content on the pages of Repubblica.
Fourth and final clue: the announcement made by ELkann of the partnership between Gedi and OpenAI to “educate” ChatGpt through editorial content. This is a very delicate issue, for which the powerful New York Times went on strike until the agreement was ruined. Well, if there was a reason why the editorial team really had to put Largo Fochetti to the sword, perhaps it is precisely this partnership, which in fact teaches ChatGpt to do without journalists. Not exactly an exciting scenario.
Another important detail: after the latest round of financing, OpenAI’s valuation is $157 billion, roughly the same as Uber or AT&T. Microsoft, Nvidia, Thrive Capital and Softbank signed the operation. To the 6.5 billion obtained, another 4 billion of bank liquidity are added, which gives Altman and his associates unprecedented firepower. And here we return to Elkann’s interest in OpenAI.
The lawyer’s nephew has shown unequivocally that he no longer believes in the traditional family business: Stellantis, which is struggling due to a difficult energy transition and which will face further difficult times, today it is worth “only” 36.5 billion dollars on the stock market. 14% of Exor, calculator in hand, around 5. Yet this business represents perhaps the most complicated from a political point of view, because the industrial revolution we are experiencing requires difficult choices and constant dialogue with institutions and social partners. For this reason, the family holding has been repositioning itself for some time on biomedical, luxury and – indeed – new technologies.
Entering the capital of OpenAi, albeit with a small share, would allow Elkann to press the innovation pedal even more, guaranteeing shareholders important dividends in the no longer distant future. The transformation of Altman’s company to “Profit” means that he intends to remunerate shareholders quickly. And so, it’s time to focus on it. If indeed, as promised, the creation of the new generative artificial intelligence module will be achieved – the true “promise” of the founder of OpenAi – then the trillion dollar valuation barrier will no longer be far away.
The challenge is very complicated: it is no coincidence that those who chose to participate in the financing round had to sign a document unprecedented in the world of finance: the promise not to invest in other companies competing with OpenAi, primarily Elon Musk’s xAI. The bet is sensational: Altman is a candidate for the role of demiurge of a new hyper-technological reality. And Elkann seems to intend to bet on him.
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