OpenAI has officially rejected Elon Musk’s $97.4 billion offer to buy its nonprofit parent company.
In a letter to Musk’s lawyer on Friday, OpenAI’s attorney, William Savitt, dismissed the proposal, saying, “much-publicized ‘bid’ is in fact not a bid at all.” He added, “The proposal, even as first presented, is not in the best interest of OAI’s mission and is rejected.” The board unanimously turned it down.
OpenAI Chairman Bret Taylor confirmed, “The company is not for sale.” He emphasized that any changes at OpenAI would only “strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
Musk’s lawyer, Marc Toberoff, revealed Monday that Musk and a group of investors had formally offered $97.4 billion to take control of OpenAI’s nonprofit arm.
“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Toberoff said.
OpenAI CEO Sam Altman responded sarcastically on Twitter: “no thank you but we will buy twitter for $9.74 billion if you want.” Musk shot back, calling Altman a “swindler” and later “Scam Altman.”
Musk and Altman co-founded OpenAI in 2015 but have since become rivals. Musk is now suing OpenAI, accusing it of abandoning its nonprofit mission as it moves toward a for-profit model. Meanwhile, OpenAI has secured billions from investors like Microsoft and SoftBank.
Despite Musk’s lawsuit, legal experts say OpenAI’s board is under no obligation to accept his offer.
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