OpenAI rejects 97.4bn offer from Elon Musk: ‘We are not for sale’

The board unanimously rejects a takeover offer from Musk and a group of investors, reaffirming the company’s independence

The board of OpenAI unanimously rejected a $97.4 billion takeover offer submitted by Elon Musk along with a group of investors.

‘OpenAI is not for sale and the board of directors has unanimously rejected Musk’s latest attempt to thwart competition,’ Bret Taylor, chairman of the OpenAI board, said at a press conference.

In a letter sent to Musk’s lawyer, William Savitt, OpenAI’s legal representative, the company made it clear that the proposal ‘is not in the best interests of OpenAI’s mission and is hereby rejected’. The rejection underlines the company’s firm desire to maintain its independence and continue on its research and development path without outside interference.

Tensions remain high between Musk and OpenAI, despite the fact that the billionaire had founded the company together with Sam Altman in 2015, before parting ways with the project over strategic differences.

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