OpenAI has rejected Elon Musk's offer to buy control of the company for $97.4 billion, calling it not a bid at all. The AI research lab, known for developing ChatGPT, stated that the proposal is not in the best interest of its mission. Musk, a former co-founder of OpenAI, is suing the organization over its transition to a for-profit entity.
The"much-publicized 'bid' is in fact not a bid at all," William Savitt, the attorney for OpenAI, wrote to Marc Toberoff, who represents Musk.
The"proposal, even as first presented, is not in the best interest of OAI's mission and is rejected," Savitt wrote to Marc Toberoff, who represents Musk."The decision of the OAI board on this matter is unanimous.""Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity," he wrote, referring to artificial general intelligence.
OpenAI has been trying to convert into a for-profit entity to take advantage of the huge commercial demand for its technology.Musk is suing OpenAI alleging breach of contract and attempting to thwart its transition to a for-profit structure. He's also raised billions of dollars for his AI startup rival xAI.
Toberoff sent a letter to the attorneys general in California and Delaware on Jan. 7, asking that bidding be opened up for OpenAI. Muskin a court filing that he will withdraw his bid for OpenAI's nonprofit arm if the ChatGPT maker stops its conversion into a for-profit entity.
Openai Elon Musk Takeover Bid Artificial Intelligence Chatgpt
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk's $97 Billion Bid for OpenAI Throws Wrench in Nonprofit-to-Profit TransitionElon Musk's unexpected $97.4 billion offer for the nonprofit controlling OpenAI has diverted attention to his efforts to prevent OpenAI's shift to a for-profit company. While OpenAI CEO Sam Altman and the board plan to reject the bid, Musk's move puts pressure on Altman and potentially jeopardizes OpenAI's mission.
Read more »
Elon Musk Will Pull $97 Billion OpenAI Bid if Company Halts For-Profit TransitionElon Musk has made a stunning move by offering to buy OpenAI for $97.4 billion, but his bid hinges on the company abandoning its shift to a for-profit entity. OpenAI CEO Sam Altman has rejected the offer, calling the company 'not for sale' and accusing Musk of attempting to stifle competition.
Read more »
Elon Musk Offers to Withdraw $97 Billion OpenAI Bid if Organization Remains a NonprofitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
OpenAI Rejects Elon Musk's $97 Billion Acquisition BidOpenAI's board of directors firmly rejected Elon Musk's unsolicited offer to buy the company for $97.4 billion. The board, led by Bret Taylor, stated that OpenAI is not for sale and emphasized its commitment to ensuring that artificial general intelligence (AGI) benefits all humanity. This rejection comes amidst a long-standing feud between Musk and OpenAI CEO Sam Altman, who has publicly criticized Musk's attempts to gain control of the company. Musk, who co-founded OpenAI but departed in 2018, argues that OpenAI has strayed from its original open-source principles and proposes to return it to its former state.
Read more »
OpenAI Rejects Elon Musk's $97 Billion Bid to Buy the CompanyOpenAI's board of directors has unanimously rejected Elon Musk's unsolicited $97.4 billion bid to acquire the company. Musk, who co-founded OpenAI but left in 2018, claimed his proposal would return the company to its original open-source mission. OpenAI CEO Sam Altman dismissed the bid, stating the company is not for sale and its mission to ensure AI benefits humanity remains paramount.
Read more »
Musk's $97 Billion OpenAI Offer: Serious Bid or Strategic Gambit?Elon Musk's recent offer to acquire a portion of OpenAI for $97.375 billion has sent shockwaves through the AI community. Analysts are divided on whether this is a genuine attempt to acquire the company or a calculated move to disrupt its operations.
Read more »