NEW YORK/PARIS (Feb 11, 2025): OpenAI’s board has yet to receive a formal takeover bid from an Elon Musk-led consortium, despite claims from Musk’s lawyer that the offer was sent to OpenAI’s legal counsel. The $97.4 billion bid, aimed at purchasing OpenAI’s nonprofit controlling arm, has been dismissed by CEO Sam Altman as a disruption tactic.
Altman reaffirmed that OpenAI is not for sale and emphasized that the board, though it has not officially reviewed the offer, intends to reject it to maintain the company’s mission. Musk, who co-founded OpenAI in 2015 but later left due to disagreements over its direction, is now competing with the company through his AI startup, xAI.
Legal experts suggest that Musk’s bid complicates OpenAI’s transition from a nonprofit to a for-profit entity, raising regulatory concerns about the valuation and control of its assets.
Source: Reuters
