OpenAI board rejects Elon Musk-led buyout offer
The Peninsula
San Francisco: OpenAI s board chairman on Friday said it has unanimously rejected an Elon Musk led offer to buy the hot artificial intelligence compan...
San Francisco: OpenAI's board chairman on Friday said it has unanimously rejected an Elon Musk-led offer to buy the hot artificial intelligence company for $97.4 billion.
"OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition," chairman of the board Bret Taylor said in a statement posted by the company on Musk-owned X, formerly Twitter.
"Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI (artificial general intelligence) benefits all of humanity," the statement continued.
Musk filed court documents on Wednesday saying that he would withdraw the offer to buy OpenAI if its board returns the artificial intelligence pioneer to a non-profit "charity" model.
OpenAI currently operates a hybrid structure, as a non-profit with a money-making subsidiary.
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