OpenAI has rejected a $97.4 billion bid from a consortium led by Elon Musk, stating the AI company is not for sale. The board, quoting Chairman Bret Taylor, dismissed the offer as an attempt to “disrupt his competition” and reaffirmed OpenAI’s mission to ensure artificial general intelligence (AGI) benefits humanity.
Musk, who co-founded OpenAI but left in 2019, has been critical of its shift to a for-profit model. His lawyer, Marc Toberoff, accused OpenAI of prioritizing profit over its nonprofit mission, benefiting select board members.
In December, OpenAI announced plans to create a public benefit corporation to attract more funding. This move has fueled Musk’s opposition, as he seeks to prevent the transition.
Altman responded to the bid with a blunt “no thank you” on X, prompting Musk to call him a “swindler.” The feud escalated when OpenAI’s board accused Musk’s consortium—including xAI, Valor Equity Partners, Baron Capital, and Ari Emanuel—of not making a serious offer. A letter from OpenAI’s lawyer, William Savitt, claimed Musk’s recent court filing revealed the bid was not genuine.
Musk has long accused OpenAI of betraying its original mission. In August, he sued Altman, OpenAI, and Microsoft, alleging breach of contract. He later sought a court injunction to block OpenAI’s shift to a for-profit structure.
Despite Musk’s legal challenges and aggressive takeover attempts, OpenAI remains firm in its decision, reaffirming its commitment to developing AI for the greater good.
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