Published: 7:42am, 15 Feb 2025Updated: 7:53am, 15 Feb 2025
OpenAI on Friday rejected a US$97.4 billion bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the start-up is not for sale and that any future bid would be disingenuous.
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The unsolicited approach is Musk’s latest attempt to block the start-up he co-founded with CEO Sam Altman – but later left – from becoming a for-profit firm, as it looks to secure more capital and stay ahead in the AI race.
“OpenAI is not for sale, and the board has unanimously rejected Mr Musk’s latest attempt to disrupt his competition. Any potential reorganisation of OpenAI will strengthen our non-profit and its mission to ensure AGI benefits all of humanity,” it said on social media, quoting Chairman Bret Taylor on behalf of its board.
Musk’s lawyer Marc Toberoff did not respond to a request for comment.
On Tuesday, Altman told news website Axios that OpenAI was not for sale. He had rebuffed the offer on Monday with a “no thank you” on social media, prompting Musk to retort: “swindler”.
The consortium, including Musk’s AI start-up xAI, would withdraw its bid for OpenAI’s non-profit arm if it drops plans to become a for-profit entity, the billionaire’s lawyers said in a court filing on Wednesday.