OpenAI rejects Musk's $97.4bn acquisition offer

OpenAI's board of directors has rejected a deal with Elon Musk, who offered to buy the company for $97.4bn. One of the key executives, Bret Taylor, emphasised that OpenAI is not for sale, The Hill reports.

Musk as a competitor: OpenAI's stance

The company's chief executive, Sam Altman, previously indicated that he was not even considering Musk's offer. In an interview with Bloomberg, he suggested that the billionaire is trying to slow down OpenAI's development.

"Очевидно, что он является нашим конкурентом" ("It is obvious that he is our competitor"), Altman said, responding to a question about the seriousness of Musk's intentions.

OpenAI restructuring: disagreements over structure

Musk's lawyer, Mark Toberoff, commenting on the rejection, expressed doubts about the transparency of OpenAI's restructuring. According to him, the company is effectively putting up for sale control over its commercial division, but doing so in favour of its own management, rather than outside investors.

"Они просто продают компанию самим себе за сумму, меньшую, чем предложил Маск, обогащая Альтмана, Брокмана и членов совета" ("They are simply selling the company to themselves for less than Musk offered, enriching Altman, Brockman and the board members"), Toberoff said.

It is worth recalling that OpenAI was initially created as a non-profit organisation, but at the end of December announced a transition to a public benefit corporation model. This structure implies that control over commercial assets remains with the non-profit part of the company.