Elon Musk's $97 Billion Bid for OpenAI Rejected by Board

Musk's offer challenges OpenAI's nonprofit-to-for-profit transition, raising questions about valuation and motives.

Elon Musk submitted a $97 billion bid to acquire OpenAI's nonprofit entity, which was unanimously rejected by the board.
Musk claims his bid aims to restore OpenAI's focus on open-source AI and safety, but critics suggest it may be a disruptive tactic to slow a competitor.
The timing of Musk's bid complicates OpenAI's plans to transition to a for-profit model, with reports suggesting a $40 billion valuation for the nonprofit's assets.
Musk's offer raises concerns about whether OpenAI's nonprofit board is fulfilling its fiduciary duty to secure fair market value for its assets.
Legal and public disputes between Musk and OpenAI leadership, including CEO Sam Altman, have intensified, with ongoing litigation over OpenAI's corporate restructuring.