Openai’s logo display is displayed on the phone in front of the computer screen of photos of Sam Altman and Elon Musk on March 14, 2024.
Muhammad Selim Korkutata | Anatolia | Getty Images
Openai has officially refused Elon Musk’s Nonprofit parents who proposed to buy AI startups for $97.4 billion.
Openai’s attorney William Savitt said in a brief message to Musk’s attorney Friday that the Openai board reviewed the proposal and determined that the billionaire’s “numerous famous ‘Bids’ are not actually bids.”
Savitt wrote to Marc Toberoff, “Even the first proposal was not in the best interest of the OAI mission and was rejected.” “The OAI Board of Directors’ decision on the matter was unanimous. ”
Openai chairman Bret Taylor said in a statement that the company is “not for sale”.
“Any potential OpenAI restructuring will strengthen our nonprofits and their mission to benefit AGI,” he wrote.
Earlier this week, Toberoff revealed that Musk led a group of investors to buy control of OpenAI for $97.4 billion. The proposal is targeted at nonprofits that oversee Chatgpt developers. Toberf said he made an offer on Monday.
“It’s time to get Openai back to open source, security-centric forces that used to be what they were,” Toberov wrote at the time.
exist Response on X“No, thank you, but we’ll buy Twitter for $9.74 billion if you want,” wrote Openai CEO Sam Altman. Musk is the owner of X, formerly Twitter.
Musk then answered Altman on X and said “fraud,“When replying to other users, call him”Scam Artman.“
Musk-Altman’s drama goes back to 2015, when they were two founders of Openai and launched it as a nonprofit AI research lab. Since Openai emerged as a pioneer of Openai through the virus Chatgpt chatbot, long-time friends and colleagues have become bitter rivals.
Openai has been trying to transform into a for-profit entity to take advantage of the huge commercial demand for its technology. Microsoft Billions of dollars have been invested in the company and SoftBank, Close to final confirmation Sources told CNBC’s David Faber last week that a $40 billion investment was invested at a $260 billion valuation.
Musk is suing Openai for breach of contract and trying to prevent its transition to a for-profit structure. He also raised billions of dollars for his AI startup rival XAI.
With Openai still being supervised by nonprofit parents, its efforts to reject Musk’s bid for the acquisition can be complicated. That’s because the board has no fiduciary responsibility to investors, but is formally looking at Openai’s charter.
Toberoff wrote to the attorney general of California and Delaware on January 7, demanding that bids be opened to Openai. Musk explain In court filings, Chatgpt Maker will withdraw bids for OpenAI nonprofits if he stops converting to a for-profit entity.
watch: If the board removes the “Sale” logo
