OpenAI Rejects Musk-Led $97.4 Billion Bid, Stands Firm on Independence
The board of OpenAI has rejected an unsolicited $97.4 billion offer led by a consortium headed by Elon Musk, stating that the company is not for sale and that similar offers will not be considered in the future, according to a report by Reuters.
Although Musk was a co-founder of OpenAI, he later left the organization. He has since advocated for keeping it as a nonprofit, whereas OpenAI is now seeking new investment structures to secure further funding. In a statement released on Friday, the company said, "Our goal is to ensure the development of artificial intelligence for the benefit of humanity."
In response, Musk’s attorney, Mark Toberoff, accused OpenAI’s board of attempting to sell the company for personal gain. Following the rejection of his offer, Musk took to X (formerly Twitter) to label OpenAI CEO Sam Altman a "fraud."
In 2023, Musk filed a lawsuit against OpenAI and Microsoft, alleging that they had shifted away from their nonprofit mission in favor of commercial interests. His consortium included his own company xAI, Valor Equity Partners, and influential Hollywood investors.
It remains unclear what Musk’s next steps will be, but OpenAI has reaffirmed its stance, emphasizing that its decision remains final and unwavering.
