OpenAI Rejects Elon Musk's $97 Billion Acquisition Offer

The AI company’s board unanimously declined the bid, citing concerns over competition and reaffirming its commitment to independence.

Elon Musk, leading an investor group, proposed a $97.4 billion offer to acquire OpenAI, which the company rejected unanimously.
OpenAI CEO Sam Altman stated that the company is not for sale and criticized the offer as an attempt to disrupt competition.
Musk, a co-founder of OpenAI who left in 2018, has been critical of the company's shift toward a profit-driven structure and is pursuing legal action to challenge it.
The proposed acquisition comes as OpenAI transitions from a nonprofit to a profit-oriented model, raising concerns among former employees about increased risks in AI development.
Musk’s offer has set a high benchmark for OpenAI’s valuation, potentially complicating negotiations with investors like Microsoft over the company’s restructuring.