Sam Altman rejects Musk’s bid to buy OpenAI for $97.4 bn

A group of investors led by Elon Musk is offering about $97.4 billion to buy OpenAI. Musk and his own AI startup, xAI want to take control of the ChatGPT maker and revert it to its original charitable mission as a nonprofit research lab. This has escalated a legal dispute with the artificial intelligence company that Musk helped found. OpenAI CEO Sam Altman, was however quick to reject the deal.

Altman wrote on X, the social media platform owned by Musk, “No thank you but we will buy twitter for $9.74 billion if you want.”

“Our structure ensures that no individual can take control of OpenAI…These are tactics to try and weaken us because we are making great progress.” Altman is said to have told his employees via an internal Slack message.

Also Read: Elon Musk introduces digital payments on X in partnership with VISA

The offer was submitted by Musk's lawyer, Marc Toberoff, to the OpenAI board of directors on Monday. After the bid, Musk said, “It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,”.

Musk's external investors include Valor Equity Partners, Baron Capital, Atreides Management, Vy Capital and 8VC, Hollywood company CEO, Ari Emanuel, and Palantir co-founder, Joe Lonsdale.

The bid has fuelled an already bitter rivalry between OpenAI and Musk, who is suing the company for abandoning its open-source, non-profit mission and undermining fair competition. 

Also Read: OpenAI CEO Sam Altman to visit India amid legal and AI challenges