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Wednesday, Feb 19, 2025
Outside the box.
OpenAI Board Declines Elon Musk’s Proposal for Acquisition
The board unanimously rejected a $97.4 billion proposal from Musk and his partners, stating clearly that OpenAI is not for sale.
The board of OpenAI has formally declined an acquisition offer worth 97.4 billion dollars from Elon Musk and a consortium of investors.
In a statement, Chairman Bert Taylor affirmed that OpenAI is not for sale and that the board unanimously rejected Musk's recent attempt to influence the company's operations.
This rejection occurs amid ongoing talks regarding a proposed reorganization of OpenAI's ChatGPT production activities.
Founded as a non-profit research organization with a for-profit segment, OpenAI is currently strategizing changes to enhance fundraising efforts and improve returns for both investors and employees.
Elon Musk voiced his concerns about the restructuring plan, claiming it strays from the organization's foundational non-profit principles.
Earlier this week, his group of investors suggested acquiring OpenAI to restore it to an open-source, safety-oriented model.
In reply, CEO Sam Altman dismissed the offer in a social media message, asserting that OpenAI is not for sale.
Chairman Taylor emphasized that any future restructuring would strengthen the organization’s dedication to serving all of humanity.
Mark Tubrof, speaking for Musk’s group, remarked that the board’s decision was anticipated, but he questioned how the board's strategy would address the larger interests involved.
In a statement, Chairman Bert Taylor affirmed that OpenAI is not for sale and that the board unanimously rejected Musk's recent attempt to influence the company's operations.
This rejection occurs amid ongoing talks regarding a proposed reorganization of OpenAI's ChatGPT production activities.
Founded as a non-profit research organization with a for-profit segment, OpenAI is currently strategizing changes to enhance fundraising efforts and improve returns for both investors and employees.
Elon Musk voiced his concerns about the restructuring plan, claiming it strays from the organization's foundational non-profit principles.
Earlier this week, his group of investors suggested acquiring OpenAI to restore it to an open-source, safety-oriented model.
In reply, CEO Sam Altman dismissed the offer in a social media message, asserting that OpenAI is not for sale.
Chairman Taylor emphasized that any future restructuring would strengthen the organization’s dedication to serving all of humanity.
Mark Tubrof, speaking for Musk’s group, remarked that the board’s decision was anticipated, but he questioned how the board's strategy would address the larger interests involved.
