February 15, 2025
1 min read

‘Not for Sale’: OpenAI Rejects Musk’s $97.4B Buyout Bid

Reports suggest that OpenAI has formally communicated its stance to Musk’s legal team, deeming the proposal inconsistent with the organisation’s mission.

OpenAI has firmly turned down Elon Musk’s $97.4 billion offer to purchase the nonprofit, with its board labelling the move as an attempt to undercut competition in the AI space.

Bret Taylor, OpenAI’s Board Chair, shared a statement on the X platform (formerly Twitter), emphasising that the company is not for sale. “The board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition. Any potential reorganisation of OpenAI will only strengthen our nonprofit mission to ensure AGI benefits all of humanity,” he wrote.

Reports suggest that OpenAI has formally communicated its stance to Musk’s legal team, deeming the proposal inconsistent with the organisation’s mission.

Earlier in the week, Musk’s AI venture, xAI, in collaboration with a group of investors, had floated the offer to acquire OpenAI. However, the bid was swiftly dismissed by CEO Sam Altman and the company’s board.

Andy Nussbaum, OpenAI’s legal counsel, reiterated the nonprofit’s position, stating Musk’s offer “doesn’t set a value for OpenAI’s nonprofit” and reaffirming that the company is “not for sale.”

Musk, a co-founder of OpenAI, has a long-standing legal dispute with the organisation. He filed a lawsuit against the company and CEO Sam Altman, alleging anticompetitive practices and governance issues.

In October last year, Musk sought a preliminary injunction against OpenAI, accusing it of misconduct, including converting its governance structure to a for-profit entity and transferring intellectual property.

OpenAI has consistently rejected Musk’s allegations, describing them as “baseless” and devoid of merit. “Elon’s fourth attempt, recycling the same unfounded complaints, is yet another distraction,” the company said in its latest statement.

The dispute underscores the growing tensions between Musk and OpenAI, once collaborators in the AI sector but now fierce competitors.

ALSO READ: Modi Meet Musk, ‘Discuss Minimum Govt Maximum Governance’

Previous Story

North Korea Pledges Stronger Defence Amid Rising Tensions

Next Story

Advantage Assam 2.0: Japan, Singapore to Sign MoUs With Assam

Latest from -Top News

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of

India Eyes Supply Chain Shift

India’s electronics manufacturing sector is undergoing a remarkable transformation, positioning the country as a major global hub for production and supply chain diversification. Riding on favourable government policies, geopolitical tailwinds, and a

Carney Confirms May 6 White House Visit

Canadian Prime Minister Mark Carney will travel to Washington on May 6 for a high-stakes meeting with US President Donald Trump, just days after taking office following a contentious federal election. Speaking

Rubio Backs AfD, Slams Berlin

US Secretary of State Marco Rubio has strongly criticised Germany for officially classifying the far-right Alternative for Germany (AfD) party as an extremist organisation, accusing the German government of undermining democracy under

India Bans All Pakistan Imports

In a sharp escalation of diplomatic hostilities, India has banned all direct and indirect imports from Pakistan with immediate effect, following the brutal terror attack in Jammu and Kashmir’s Pahalgam region that
Go toTop

Don't Miss

Zuckerberg hails Musk

On the ‘The Lex Fridman Podcast’ show, Zuckerberg said that

OpenAI CEO Backs Indian-Origin Teenagers’ AI Startup

The startup Induced AI, founded this year, has raised $2.3