OpenAI has formally rejected Elon Musk’s recent attempt to acquire the company for $97.4 billion. In a statement on X, OpenAI board chair Bret Taylor emphasized that OpenAI is not for sale and that the board unanimously rejected Musk’s offer.
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This rejection comes after OpenAI CEO Sam Altman’s public response to Musk’s bid, where he humorously countered by offering to purchase Twitter for $9.74 billion.
Musk’s offer, while significant, presented several challenges for OpenAI. The company is currently transitioning into a for-profit entity, a move that requires careful consideration and execution. The board must now demonstrate that this transition aligns with OpenAI’s mission to ensure that artificial general intelligence (AGI) benefits all of humanity, a goal that may be more effectively achieved through the planned for-profit structure.
Musk’s lawyers have since offered to withdraw the buyout offer if OpenAI agrees to remain a non-profit organization. However, Taylor has firmly rejected this proposal, reaffirming the board’s commitment to the ongoing transition and its belief that the planned for-profit structure will best serve OpenAI’s mission.
This high-stakes negotiation highlights the growing importance of AI and the intense competition within the AI development space.
