ChatGPT-maker OpenAI has rejected Elon Musk’s $97.4 billion hostile takeover bid, reaffirming that it is “not for sale.” OpenAI board chair Bret Taylor stated the board unanimously dismissed Musk’s offer, emphasizing that any restructuring would reinforce the nonprofit’s mission to ensure artificial general intelligence benefits humanity.
Musk, a co-founder of OpenAI, had offered to withdraw his bid if the company halted its transition to a for-profit model. He is also suing OpenAI and CEO Sam Altman, alleging corporate misconduct over the shift. A federal judge recently allowed the lawsuit to proceed, and the dispute has played out publicly on X, with Musk and Altman exchanging jabs.
Taylor, who previously handled Musk’s takeover of Twitter while serving as its board chair, is no stranger to legal battles with the tech billionaire. Twitter sued Musk when he attempted to back out of his $44 billion acquisition, and a Delaware judge ruled in Twitter’s favor, forcing Musk to complete the purchase in October 2022.
