OpenAI has turned down a massive $97.4 billion acquisition bid from Tesla CEO Elon Musk, reaffirming that the company is “not for sale.”

 

The board of directors made a unanimous decision to reject Musk’s offer, with chairman Bret Taylor stating that OpenAI remains committed to its mission of ensuring artificial intelligence benefits all of humanity.

 

Musk, one of OpenAI’s co-founders, has been at odds with the company’s direction ever since it shifted toward a for-profit model. He even hinted at withdrawing his offer if OpenAI agreed to return to its non-profit roots.

 

While OpenAI argues that its for-profit subsidiary is crucial for growth, Musk has criticized the move, especially since launching his own AI company, xAI, in 2023.

 

Some investors believe Musk’s offer was a strategic move to disrupt OpenAI’s valuation, which is currently being negotiated at around $30 billion less than his bid. Others see it as an attempt to regain influence over a company he once helped build.