OpenAI tells Musk it is 'not for sale' after tech titan's $97 billion bid
ChatGPT-maker OpenAI has rejected a hostile takeover bid from Elon Musk.
ChatGPT-maker OpenAI has rejected a hostile takeover bid from Elon Musk.
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition,” Bret Taylor, OpenAI's board chair, said in a statement on behalf of the company's board of directors. “Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
Earlier this week, Musk formally submitted a $97.4 billion bid for OpenAI, while also offering to withdraw the bid if the firm halted a potential transition into a for-profit company.
An attorney for Musk did not immediately respond to a request for comment.
Musk, who co-founded OpenAI as a nonprofit in 2015, is currently suing the company and its leader, Sam Altman, over what Musk alleges is corporate misconduct — specifically around OpenAI's move to transition into a more conventional for-profit business.
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