Elon Musk launched a $97.4 billion bid to take management of OpenAI. The Wall Street Journal reported a gaggle of buyers led by Musk’s xAI submitted an unsolicited supply to the corporate’s board of administrators on Monday. The group needs to purchase the nonprofit that controls OpenAI’s for-profit arm.
When requested for remark, an OpenAI spokesperson pointed Engadget to an X post from CEO Sam Altman. “No thanks however we’ll purchase twitter for $9.74 billion if you would like,” Altman wrote on the social media platform Musk owns.
On Friday, OpenAI’s board of administrators formally rejected Musk’s bid. “OpenAI shouldn’t be on the market, and the board has unanimously rejected Mr. Musk’s newest try to disrupt his competitors,” the corporate mentioned in a response attributed to Bret Taylor, the chair of OpenAI’s board of administrators. “Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to make sure AGI advantages all of humanity.”
Taylor, by the way, was the chairman of Twitter’s board earlier than Musk purchased the social media platform for $44 billion in 2022.
“OpenAI shouldn’t be on the market, and the board has unanimously rejected Mr. Musk’s newest try to disrupt his competitors. Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to make sure AGI advantages all of humanity.”
—Bret Taylor, Chair, on behalf of…
— OpenAI Newsroom (@OpenAINewsroom) February 14, 2025
“It’s time for OpenAI to return to the open-source, safety-focused power for good it as soon as was,” Musk mentioned in a press release his legal professional shared with The Journal. “We’ll be sure that occurs.”
It is exhausting to say how severe this bid from Musk is and what — if any — probability it has to succeed. OpenAI shouldn’t be a standard firm, and the nonprofit structure Sam Altman and others on the firm need it to get away from could the truth is shield it from Musk’s supply. Have been OpenAI a for-profit firm with publicly traded shares Musk’s bid would seemingly set off what’s identified in company legislation as a Revlon second, the place, underneath sure circumstances, the corporate’s board of administrators can be pressured to promote to the very best bidder to maximise shareholder earnings.
Replace 02/14 4:34PM ET: Added response from OpenAI’s board of administrators.
This text initially appeared on Engadget at https://www.engadget.com/ai/openais-board-unanimously-rejects-elon-musks-974-billion-takeover-bid-215221683.html?src=rss
Trending Merchandise
ASUS VA24DQ 23.8â Monitor, 1080P Full HD, 75Hz, IPS, Adaptive-Sync/FreeSync, Eye Care, HDMI DisplayPort VGA, Frameless, VESA Wall Mountable ,BLACK
Koss Porta Pro Classic On-Ear Headphones, Retro Style, 3.5mm Wired Plug, Durable, Black/Silver
Acer Aspire 3 A315-24P-R7VH Slim Laptop | 15.6″ Full HD IPS Display | AMD Ryzen 3 7320U Quad-Core Processor | AMD Radeon Graphics | 8GB LPDDR5 | 128GB NVMe SSD | Wi-Fi 6 | Windows 11 Home in S Mode
Logitech Media Combo MK200 Full-Measurement Keyboard and Excessive-Definition Optical Mouse
CORSAIR 6500X Mid-Tower ATX Dual Chamber PC Case â Panoramic Tempered Glass â Reverse Connection Motherboard Compatible â No Fans Included â Black
&url=https://shoptwentythree.com/product/jbl-tune-230nc-tws-true-wireless-in-ear-headphones-active-noise-cancelling-with-smart-ambient-jbl-pure-bass-sound-4-mics-for-perfect-voice-calls-ipx4-40hrs-of-battery-life-black/&media=https://m.media-amazon.com/images/I/314SeozaUUL._SS1024_.jpg){kind=link}
,%201ms,%20Extreme%20Low%20Motion%20Blur,%20FreeSync%20Premium,%20Shadow%20Boost,%20Eye%20Care,%20HDMI,%20DisplayPort,%20Tilt%20Adjustable%20–%20VG277Q1A,Black&url=https://shoptwentythree.com/product/asus-tuf-gaming-27-1080p-monitor-full-hd-165hz-supports-144hz-1ms-extreme-low-motion-blur-freesync-premium-shadow-boost-eye-care-hdmi-displayport-tilt-adjustable-vg277q1ablack/&media=https://m.media-amazon.com/images/I/41kLVlJJkwL._SS1024_.jpg){kind=link}
