16 sources·Business

OpenAI Unanimously Rejects Elon Musk's $97.4 Billion Takeover Bid Amid Legal Turmoil

OpenAI's board refuses Elon Musk's $97.4 billion bid, reaffirming commitment to its nonprofit mission amid ongoing legal disputes.

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Musk's AI startup, xAI, was founded in 2023 and released its Grok 2 language model in August 2024.
Elon Musk says xAI's 'scary smart' Grok 3 chatbot will be released on Monday
Business Insider·3M
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So whichever billionaire prevails in the battle for OpenAI, don’t be fooled by all this talk of altruism.
Editorial: Musk bid for OpenAI exposes hypocrisy of business model
Boston Herald·3M
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xAI is seeking a competitive edge in a market teeming with products like OpenAI's ChatGPT as artificial intelligence spreads through contemporary life.
Elon Musk Says XAI's Grok 3 Chatbot to be Unveiled on Monday
Newsmax·3M
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OpenAI CEO Sam Altman never took Musk’s offer to buy the nonprofit that oversees the maker of ChatGPT very seriously.
OpenAI officially rejects Musk's $94 billion buyout offer
Straight Arrow News·3M
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The feud between Elon Musk and rival Sam Altman took a new turn on Friday when OpenAI’s board rejected a $97.4-billion offer by an investment consortium led by the Tesla chief executive.
OpenAI's board rejects bid from Elon Musk-led group
Los Angeles Times·3M
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Musk resigned from OpenAI’s board in 2018, later accusing the startup of abandoning its nonprofit mission and aligning too closely with corporate interests—particularly Microsoft.
OpenAI Rejects Elon Musk’s $97.4 Billion Buyout Offer
Epoch Times·3M
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Musk has alleged in the lawsuit that the companies are violating the terms of his foundational contributions to the charity.
OpenAI board unanimously rejects Elon Musk's $97.4 billion proposal
ABC News·3M
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OpenAI has increasingly sought to capitalize on the commercial success of generative AI.
OpenAI board unanimously rejects Elon Musk's $97.4 billion proposal
Associated Press·3M
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Regardless of the outcome, Musk’s bid is expected to complicate the company’s restructuring process at a time when OpenAI is in talks with SoftBank Group Corp. to raise a massive new funding round at a valuation as high as $300 billion.
OpenAI Board Rejects Musk’s $97.4 Billion Bid to Control Company
Bloomberg·3M
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The potential of its revolutionary technology — to advance science, medicine and tech — is real, and it’s definitely worth more than the two Twitters-plus Musk is offering, bankers say.
‘Crazy Elon’ follows Twitter playbook to rile rival Sam Altman
New York Post·3M
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Updated: Feb 16th, 2025, 11:47 PM ET

Summary

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OpenAI's board has unanimously dismissed Elon Musk's $97.4 billion takeover bid, emphasizing that the organization is not for sale. Musk, who claims OpenAI is deviating from its founding nonprofit mission, has initiated legal action, suing the company for breach of contract. OpenAI attorney William Savitt stated that Musk’s proposal, presented with new conditions, does not serve the nonprofit’s interests. Musk indicated he would withdraw his offer if OpenAI halts its plans for a for-profit conversion. Despite Musk's claims, OpenAI's leadership remains committed to its mission to build safe and beneficial AI.

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