Openai's board rejected Elon Musk's $97.4 billion bid to buy a nonprofit that manages an artificial intelligence company.
“Openai is not on sale. The board unanimously rejected the latest attempt to disrupt Musk's competition,” Openai Chairman Bret Taylor said on social platform X on Friday afternoon. I mentioned it in.
“The potential reorganization of Openai strengthens the nonprofit and its mission to ensure that AGI benefits all humanity,” he added.
A group of investors led by Musk placed an unsolicited bid to Openai earlier this week amid a push for AI companies to become for-profit organizations. In court on Wednesday, the tech billionaire said he would withdraw his bid if Openai halts its commercial shift.
However, Openai CEO Sam Altman revealed early that he wasn't entertaining the idea, saying “Openai is not on sale.”
“I think he's probably just trying to slow us down. He's clearly a competitor,” Altman told Bloomberg's “Pulse.”
Musk's lawyer Mark Toberov was not surprised Friday that Open refused the bid, but appears to be questioning whether the board fulfilled its fiduciary duty to fully consider the offer. He said.
“This is not surprising. They say they haven't received it yet given that Altman and Board Chairman Taylor have already rejected Musk's $97.4 billion bid,” Toberoff said in a statement. I've said that.
“However, we are amazed to see the board having a strict fiduciary duty to carefully consider bids in good faith on behalf of charities.
Toberoff also pushed back Openai's claim that it is not being sold amid the for-profit transition.
“Of course they put charity assets (management of commercial companies) for sale,” he said. “That's all about their 'reorganization.' ”
“They are selling themselves in just a small portion of what masks offer, and they are enriching Altman, Brockman and more, not charities. How someone is going to “all humanity” explain whether it will benefit you,” he added.
Openai announced plans to rebuild the company as a public benefits company in late December. Starting as nonprofits, AI companies now have a unique structure in which nonprofits manage for-profit organizations.
Mask, who founded Openai in 2015, has repeatedly sued Altman over the past year, where he allegedly wandered from his original mission to develop AI with safety and transparency in mind.
