OpenAI Board Rejects Elon Musk’s $97.4 Billion Buyout Offer

OpenAI’s board has unanimously rejected a $97.4 billion takeover bid from Elon Musk, reaffirming that the company is not for sale.

Board chairman Bret Taylor stated that Musk’s bid was an attempt to disrupt competition, adding that any internal restructuring would strengthen OpenAI’s nonprofit mission to ensure AGI benefits all of humanity.

Musk vs. OpenAI: Ongoing Tensions

• Musk co-founded OpenAI in 2015, investing $45 million before leaving in 2018 due to potential conflicts with Tesla’s growing AI focus.
• He later launched xAI, his own AI company, as a competitor to OpenAI.
• Musk has been critical of OpenAI’s shift to a for-profit model, which CEO Sam Altman argues is crucial for long-term development.
• Musk’s buyout offer—valued $30 billion higher than current fundraising negotiations—appeared aimed at disrupting OpenAI’s financial plans.

Despite Musk’s legal filings and public criticism, OpenAI remains focused on expanding its for-profit arm while maintaining its nonprofit oversight.