OpenAI's board has rejected Elon Musk's $97.4 billion offer to purchase the nonprofit governing OpenAI. Board chair Bret Taylor stated Musk's bid is an attempt to disrupt competition. OpenAI is in the midst of a restructuring process from a capped-profit to a traditional for-profit corporation. Musk, who is also an OpenAI co-founder, has a pending lawsuit against the organization, alleging anticompetitive behavior. He stated he would withdraw his bid if the board preserved the charity's mission and halted its conversion to a for-profit.
OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition.
Musk's bid doesn't set a value for OpenAI's nonprofit and that the nonprofit is 'not for sale.'
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