OpenAI has firmly turned down a $97.4 billion bid from a consortium led by billionaire Elon Musk, declaring the startup is not for sale. The ChatGPT maker emphasized that any future bid would be insincere and reaffirmed its commitment to advancing artificial intelligence for the greater good.
“This latest attempt by Mr. Musk to disrupt his competition has been unanimously rejected by OpenAI’s board. Any reorganization of OpenAI will strengthen our nonprofit mission to ensure AGI benefits all of humanity,” said OpenAI Chairman Bret Taylor on X.
The bid, which Musk proposed through a consortium that includes his AI startup xAI and other investors like Valor Equity Partners and Baron Capital, aimed to challenge OpenAI’s shift toward a for-profit structure. Musk’s lawyer, Marc Toberoff, accused OpenAI of prioritizing the enrichment of board members over its nonprofit goals.
In response, OpenAI defended its December restructuring plans, which include creating a public benefit corporation to attract more funding while adhering to its mission. OpenAI CEO Sam Altman dismissed the offer earlier this week, with a direct “no thank you” on X, prompting Musk to retort with “swindler.”
The feud between Musk and OpenAI dates back to Musk’s departure from the organization in 2019. Since then, Musk has criticized OpenAI for moving away from its original nonprofit mission, even filing lawsuits alleging breach of contract and seeking an injunction to block its for-profit transition.
OpenAI has clarified that it intends to keep its nonprofit structure intact while continuing to pursue advances in artificial intelligence. The board highlighted that Musk’s recent court filings revealed the bid to be non-serious, undermining its credibility.
Source: Swifteradio.com
