Elon Musk’s Attempt to Buy OpenAI for $97.4 Billion Rejected by Board

Board Unanimously Rejects Musk's Offer

On Friday, OpenAI's board of directors unanimously turned down Elon Musk's unsolicited bid to acquire the company.

Musk-Led Investor Group's $97.4 Billion Bid

Earlier, on Monday, a group led by Musk submitted a $97.4 billion bid to purchase OpenAI without any prior prompting.

Chair of OpenAI's Board Responds

In response to Musk's bid, Bret Taylor, the chair of OpenAI's board, referred to it as "Musk's latest attempt to disrupt his competition."

Altman's Firm Refusal

CEO Sam Altman firmly rejected the bid, emphasizing in public interviews at an AI summit in Paris that OpenAI, with its mission to ensure AI benefits humanity, is not up for sale.

Legal Back and Forth

Attorney Marc Toberoff, representing the investor group, expressed surprise at OpenAI's rejection, suggesting that the board's actions may not be in the charity's best interest.

History of Musk and Altman

Musk and Altman founded OpenAI together but their relationship soured after Musk left in 2018 to establish xAI. Public disagreements ensued over AI development.

Musk's Vision for OpenAI

In a statement, Musk outlined his vision for OpenAI, emphasizing a return to open-source principles and a focus on safety, aligning with xAI's values.

OpenAI's Response

OpenAI representatives did not provide immediate comments on Musk's proposal to Business Insider.

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By: ktangalakislippert@businessinsider.com (Katherine Tangalakis-Lippert)
Title: Elon Musk’s Attempt to Buy OpenAI for $97.4 Billion Rejected by Board
Sourced From: www.businessinsider.com/openai-board-rejects-elon-musk-offer-buy-company-disrupt-competition-2025-2
Published Date: Fri, 14 Feb 2025 23:41:04 +0000