OpenAI Rejects Elon Musk's $97.4 Billion Buyout Bid

OpenAI has unanimously rejected Elon Musk's $97.4 billion bid to acquire the company's non-profit arm, with board chairman Bret Taylor characterizing the offer as an attempt to "disrupt his competition."

"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 non-profit and its mission to ensure AGI benefits all of humanity," Taylor stated in a post on X.

The bid, backed by a group of investors, was presented by Musk with the stated intention of returning OpenAI to its "open-source, safety-focused force for good it once was." However, the proposal met with firm resistance from the company's leadership.

In a candid interview with Bloomberg, OpenAI CEO Sam Altman dismissed Musk's offer as an attempt to impede the company's progress. Altman, who co-founded OpenAI with Musk, suggested that the xAI founder should focus on product development rather than acquisition attempts.

"OpenAI is not for sale. The OpenAI mission is not for sale," Altman emphasized. "I think he is probably just trying to slow us down. He obviously is a competitor... He's working hard and has raised a lot of money for xAI, and they're trying to compete with us from a technological perspective. I wish he would just compete by building a better product."

As Elon Musk's xAI venture is currently competing with OpenAI in the AI domain, hence the rejection highlights the growing tensions between the two AI industry figures, and it also underscores the competitive landscape in artificial intelligence development.