Sat Feb 15 22:12:42 UTC 2025: ## OpenAI Rejects Elon Musk’s $97.4 Billion Bid

**San Francisco, CA** – OpenAI has decisively rejected a $97.4 billion takeover bid from a consortium led by Elon Musk, stating the company is not for sale and calling the offer disingenuous. The unsolicited bid marks the latest attempt by Musk, a co-founder who later left the company, to prevent OpenAI’s transition to a for-profit structure.

OpenAI’s board unanimously rejected the offer, emphasizing their commitment to its mission of ensuring artificial general intelligence benefits all of humanity. While OpenAI recently announced plans to restructure as a public benefit corporation to facilitate fundraising and remove restrictions imposed by its non-profit parent, the company insists this does not equate to a sale.

Musk’s legal team countered that OpenAI is effectively putting its for-profit arm up for sale, arguing the restructuring benefits certain board members over the intended charitable goals. The consortium, which includes Musk’s xAI and other investors like Valor Equity Partners and Baron Capital, initially offered to withdraw its bid for OpenAI’s non-profit arm if the for-profit transition was halted. However, OpenAI’s lawyers viewed subsequent legal filings as altering the terms of the “bid,” rendering it invalid.

The rejection escalates the ongoing feud between Musk and OpenAI CEO Sam Altman, which dates back to Musk’s 2019 departure. Musk has repeatedly accused OpenAI of prioritizing profit over its original mission and even filed a lawsuit against Altman, OpenAI, and Microsoft last year alleging breach of contract. This latest bid and its subsequent rejection solidify the deep divisions between the two figures and further complicates OpenAI’s future trajectory.

Read More