OpenAI Rejects Elon Musk's $97.4 Billion Bid as Legal Battle Heats Up
OpenAI's board has unanimously rejected Elon Musk's bid, asserting it's against their mission and comes amidst ongoing legal disputes and Musk's criticism of their direction.
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
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OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition.
"OpenAI is not for sale": ChatGPT maker rejects Musk bid for ownership
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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
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The bid is likely to slow down the artificial intelligence (AI) firm’s plans to change its corporate structure.
Why Musk may want to control OpenAI
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OpenAI has been trying to convert into a for-profit entity to take advantage of the huge commercial demand for its technology.
OpenAI rejects Musk's takeover offer, says it was 'not a bid at all'
CNBC·1M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.OpenAI's board of directors on Friday flatly refused Elon Musk's unprompted bid to buy the company.
Elon Musk's $97.4 billion offer to buy OpenAI 'unanimously rejected' by the company's board
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OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition.
OpenAI unanimously rejects Elon Musk's $97.4 billion takeover bid
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OpenAI was founded — by a group that included Musk and OpenAI CEO Sam Altman — as a non-profit research lab with a for-profit entity, but it is aiming to restructure in a way that could make fundraising easier and increase returns for investors and employees.
OpenAI board rejects Elon Musk-led $97 billion purchase offer | Business
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OpenAI created a for-profit arm that has drawn billions of dollars in funding, sparking allegations from Musk that the startup breached its original mission by putting profit ahead of the larger public good.
OpenAI rejects $97.4bn Musk bid and says company is not for sale
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The chairman of Openai, Brett Taylor, writes that Openai is not for sale and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition.
OpenAI Board Rejects Musk’s $97.4 Billion Offer
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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·1M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.OpenAI has increasingly sought to capitalize on the commercial success of generative AI.
OpenAI board unanimously rejects Elon Musk's $97.4 billion proposal
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After Musk’s departure in 2019, OpenAI created a for-profit arm that has drawn billions of dollars in funding, sparking allegations from Musk that the startup breached its original mission by putting profit ahead of the larger public good.
OpenAI board unanimously rejects Elon Musk’s $97.4B offer: ‘Not for sale’
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Earlier this week, Musk formally submitted a $97.4 billion bid for OpenAI, while also offering to withdraw the bid if the firm halted a potential transition into a for-profit company.
OpenAI tells Musk it is 'not for sale' after tech titan's $97 billion bid
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This was expected, given that OpenAI CEO Sam Altman had previously said the company isn't for sale, but nonetheless was a sharp rebuke of the world's richest man.
OpenAI board unanimously rejects Elon Musk's takeover offer
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The OpenAI board of directors on Friday voted to reject Elon Musk's group's nearly $100 billion bid to purchase the company, declaring the company was not for sale.
OpenAI board declines Musk-led bid to purchase tech company
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Summary
OpenAI's board has unanimously declined Elon Musk's $97.4 billion takeover bid, citing misalignment with its mission. Musk's legal actions claim OpenAI has strayed from its founding nonprofit goals. The board's attorney stated Musk's proposal lacked merit and described it as not genuinely a bid. Musk escalated the conflict with new allegations, claiming OpenAI stifled competition while pursuing a for-profit model. His requests against OpenAI are still under judicial consideration, amidst Musk's concurrent move to bolster his AI venture, xAI, with significant investments. Tensions continue to rise between Musk and OpenAI's leadership.
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