Elon Musk’s bid to acquire OpenAI rejected
Elon Musk’s proposal to acquire OpenAI has been officially rejected. In a letter to Musk’s legal representative, William Savitt, attorney for OpenAI, stated that the board had carefully considered the bid and had concluded that it was not a legitimate offer. The board unanimously determined that the proposal was not in line with the purpose of OpenAI and was therefore rejected.
Savitt wrote: “Two days ago, you filed a pleading in court adding new material conditions to the proposal. As a result of that filing, it is now apparent that your clients’ much publicised ‘bid’ is in fact not a bid at all.”
OpenAI president Bret Taylor emphasised that the organisation is not available for sale. He asserted that any possible restructuring of OpenAI would serve to reinforce its nonprofit status and commitment to ensuring that general artificial intelligence benefits all of humanity.
Earlier this month, a group of investors led by Musk made a $97.4 billion (€94.4 billion) bid to take over the nonprofit organisation that controls OpenAI. The proposed acquisition was seen as an effort to reorient OpenAI toward open source AI principles. Musk expressed his belief that this would return the organisation to its original purpose of security and ethical development.
Musk co-founded OpenAI in 2015 alongside Sam Altman, but left in 2018. In November 2024, his legal team filed a lawsuit against OpenAI to prevent its transition from nonprofit to for-profit. This action came in response to reports that SoftBank was about to complete a $40 billion investment in OpenAI, valuing the organisation at $260 billion.
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