OpenAI Chairman Bret Taylor emphatically stated that the company is not for sale, refuting Elon Musk's purported $97.4 billion bid to acquire control of the renowned AI research organization. OpenAI's legal counsel asserted that Musk's proposal, despite widespread media coverage, lacked the formal structure of a genuine bid and was ultimately rejected by the OpenAI board. The board, citing a unanimous decision, emphasized that Musk's offer conflicted with OpenAI's core mission.
OpenAI Chairman Bret Taylor categorically stated in a recent announcement that OpenAI is not for sale. This follows a flurry of media attention surrounding a purported bid by Elon Musk to acquire control of OpenAI for a staggering $97.4 billion. William Savitt, OpenAI's legal representative, clarified in a letter addressed to Marc Toberoff, Musk's attorney, that the widely publicized 'bid' is, in fact, not a formal bid at all.
Savitt emphasized that the OpenAI board, after careful deliberation, has concluded that the billionaire's proposal is not in the best interest of OpenAI's mission and has thus been rejected. The decision, according to Savitt, is unanimous.Earlier this week, Toberoff revealed that Musk, leading a consortium of investors, was seeking to purchase control of the non-profit organization responsible for developing the groundbreaking ChatGPT chatbot. He stated that the offer, submitted on Monday, aimed to steer OpenAI back towards its original vision as an open-source, safety-focused entity dedicated to the common good. In a somewhat tongue-in-cheek response, OpenAI CEO Sam Altman quipped on Twitter, 'no thank you but we will buy Twitter for $9.74 billion if you want,' a playful jab at Musk's recent acquisition of the social media platform, which he has since rebranded as X.The history between Musk and Altman dates back to 2015 when they co-founded OpenAI, initially establishing it as a non-profit AI research laboratory. However, their amicable relationship has since soured, evolving into a bitter rivalry as OpenAI ascended to prominence in the field of generative AI through its viral ChatGPT chatbot. OpenAI has been actively pursuing a transformation into a for-profit entity to capitalize on the immense commercial demand for its technology. Musk, in turn, has filed a lawsuit against OpenAI, alleging breach of contract and an attempt to obstruct its transition to a for-profit structure. He has also channeled billions of dollars into xAI, his own competing AI startup. The ongoing legal battle and Musk's persistent interest in OpenAI have created a complex situation. While OpenAI's non-profit status shields it from typical shareholder pressure, Musk's legal maneuvers and influence may complicate the board's ability to outright reject his takeover bid
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