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The OpenAI board has officially rejected Elon Musk’s offer to buy the AI giant, after CEO Sam Altman told Musk he would not accept an offer.
Last week, a consortium of investment and venture capital firms led by Elon Musk made a US$97.4 billion buyout offer for OpenAI.
Musk and Altman are currently in a legal battle over the company, which was co-founded by the pair before Musk left to found x.AI.
Responding to Musk’s offer on X, Altman said that OpenAI would not be sold, but he joked it would be willing to buy X.
“No thank you but we will buy twitter for [US]$9.74 billion if you want,” Altman said.
Now, OpenAI’s board has formally rejected Musk’s offer in a post on X.
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition. Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity,” the OpenAI Newsroom published on X on behalf of OpenAI board of directors chair Bret Taylor.
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition. Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
— OpenAI Newsroom (@OpenAINewsroom) February 14, 2025
—Bret Taylor, Chair, on behalf of…
Musk’s buyout attempt follows OpenAI announcing last year that it would be restructuring to become a for-profit, attracting more investors.
Representing Musk and his consortium of investment and venture capital firms, attorney Marc Toberoff said OpenAI was moving away from its position as a charitable organisation and that it needed to ensure that control over such a revolutionary technology must not come with it.
“If Sam Altman and the present OpenAI, Inc. board of directors are intent on becoming a fully for-profit corporation, it is vital that the charity be fairly compensated for what its leadership is taking away from it: control over the most transformative technology of our time,” said Toberoff.
“As the co-founder of OpenAI and the most innovative and successful tech industry leader in history, Musk is the person best positioned to protect and grow OpenAI’s technology.”
In his offer, Musk also said under his leadership, he would make OpenAI great again.
“At x.AI, we live by the values I was promised OpenAI would follow. We’ve made Grok open source, and we respect the rights of content creators,” Musk said.
“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens.”
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