OpenAI on Friday rejected a $97.4 billion bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the start-up is not for sale.
The unsolicited approach is Mr Musk's latest attempt to block the start-up he co-founded with chief executive Sam Altman – but later left – from becoming a for-profit firm, as it looks to secure more capital and stay ahead in the artificial intelligence race.
“OpenAI is not for sale, and the board has unanimously rejected Mr Musk's latest attempt to disrupt his competition. Any potential reorganisation of OpenAI will strengthen our non-profit and its mission to ensure AGI benefits all of humanity,” chairman Bret Taylor said, on behalf of its board.
Mr Altman and Mr Musk have been at loggerheads for years.
After Mr Musk's departure in 2019, OpenAI created a for-profit arm that has drawn billions of dollars in funding, sparking allegations from Mr Musk that the start-up breached its original mission by putting profit ahead of the larger public good.