By John Meyer, consultant in financial affairs – Eurasia Business News, February 14, 2025. Article No 1413.
OpenAI has rejected Elon Musk’s $97.4 billion takeover offer, asserting that the proposal does not align with OpenAI’s mission. The board has unanimously dismissed Musk’s offer.
Rejection of the Offer: OpenAI’s legal representative, William Savitt, communicated to Musk’s attorney that the board had evaluated the proposal and concluded that the “offer” is not a legitimate bid.
OpenAI is Not For Sale: Bret Taylor, the Chairman of OpenAI, affirmed that the organization “is not available for purchase”.
Musk’s Response: Earlier in the week, Musk, through his attorney, revealed he was spearheading a group of investors to acquire OpenAI. In response to OpenAI’s rejection, Musk called OpenAI’s CEO Sam Altman a “swindler” on X (formerly Twitter). Altman retorted by jokingly offering to buy Twitter for $9.74 billion.
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Reason for the Bid: Musk reportedly said that it is time for OpenAI to return to the open-source, safety-focused force for good it once was and would withdraw his bid if OpenAI stops its conversion into a for-profit entity.
Altman’s Perspective: Altman believes Musk is attempting to slow OpenAI down, viewing him as a competitor who is trying to raise money for his startup, xAI.
OpenAI’s Stance: OpenAI defends its transition to a for-profit model as essential for securing the necessary funding to develop superior artificial intelligence systems.
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© Copyright 2025 – Eurasia Business News. Article no. 1413.
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