OpenAI Board Declines Elon Musk’s Offer, Says Company Not for Sale

On Saturday Sam Altmans OpenAI rejected billionaire Elon Musks offer to pay $97 pointed $4 billion to buy the nonprofit. Musks bid was characterized as an attempt to disrupt his competition by Bret Taylor the board chair of OpenAI in a commentary on the social media platform X.

Taylor wrote The board has unanimously rejected Mr. Dot Musks latest attempt to disrupt his competition and OpenAI is not for sale.

Taylor speaking on behalf of the OpenAI Board of Directors stated that any possible reorganization of OpenAI would enhance the nonprofit organization and its goal of ensuring that AGI benefits all people. Musks lawyer was also allegedly notified in writing by OpenAI that the offer did not align with its objectives.

An offer to buy OpenAIs charity was made earlier this week by a group of investors and Musks AI company xAI for $97. 4 billion. Neither Altman nor the corporations board of directors accepted the unsolicited proposal.

In a statement Andy Nussbaum the boards lawyer said that Musks offer doesnt set a value for OpenAIs nonprofit and that the company is not for sale.

Musk a co-founder of OpenAI filed a lawsuit against Altman and the company alleging among other things that OpenAI had engaged in anticompetitive and fraudulent practices. In October of last year Musk filed a request for a preliminary injunction against OpenAI alleging the company was involved in anti-competitive behavior.

The injunction application accused Microsoft President Greg Brockman Reid Hoffman a former board member of OpenAI and co-founder of LinkedIn Microsoft VP Dee Templeton OpenAI CEO Altman and Microsoft of various illicit activities and seeks to halt them.

Transferring any material assets including intellectual property owned held or controlled by OpenAI Inc. was another charge. as well as converting OpenAIs governance structure to a for-profit one its affiliates or subsidiaries. Elons fourth attempt which again recycles the same baseless complaints continues to be utterly without merit according to an OpenAI statement. The case had previously been described as blustery and unfounded by the AI firm.