OpenAI CEO Sam Altman has firmly rejected Elon Musk's $97.4 billion offer to purchase the company, stating that OpenAI is not for sale. According to Axios, Speaking at the AI Action Summit in Paris, Altman referred to Musk's bid as the latest in a series of attempts by Musk to take control of the company. Altman emphasised that OpenAI's mission is not for sale and criticised Musk's approach as a competitor unable to win in the market.
Altman's response on social media was equally dismissive, suggesting that OpenAI would consider buying Twitter for $9.74 billion instead. Musk's unexpected offer could complicate OpenAI's ongoing restructuring process, as the company transitions from its original nonprofit status to a for-profit model, a move Musk opposes.
Musk, who co-founded OpenAI but left in 2018, has been vocal about his disapproval of the company's direction, accusing it of straying from its open-source mission and aligning too closely with Microsoft. His bid is seen as an attempt to regain influence and escalate his legal battle against OpenAI.
OpenAI announced plans in December to separate its for-profit business from its nonprofit board. Altman confirmed that the board is still working on the company's valuation and countered media speculation about the restructuring process. He acknowledged the complexity of setting up the structure for the long term.
Musk's offer is part of a larger battle over the future of AI, involving his company xAI and backed by major investors. Musk has accused OpenAI of becoming a tool for Microsoft's AI ambitions and has taken legal action against the company. OpenAI has dismissed Musk's legal claims as unfounded.
Despite Musk's bid, OpenAI is proceeding with its restructuring, drawing regulatory attention. The company is negotiating a new funding round that could value it at $300 billion, with SoftBank considering a $25 billion investment.