The Openai Committee rejects a bid for the $97.4 billion musk.
(Bloomberg) – Openai’s board of directors formally rejected an offer from an investor group led by Elon Musk to buy a nonprofit that controls an artificial intelligence company at $97.4 billion.
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“Openai is not on sale. The board unanimously rejected its latest attempt to disrupt Musk’s competition,” Openai Chairman Bret Taylor said in a statement Friday. I stated on behalf of you.
Musk, who co-founded Openai 10 years ago before launching a rival AI startup, recruited a group of wealthy allies for unsolicited cash bids to buy nonprofit assets. Other supporters of the proposal included Valor Equity Partners, Baron Capital, Atreides Management, Vy Capital, Joe Lonsdale’s 8VC and Ari Emanuel through investment funds. Musk said he hopes to bring the openness back, saying, “It was once a strong focus on open source, safety-focused forces.”
The offer was quickly rejected earlier this week by Openai CEO Sam Altman. Sam Altman called it a competitor tactic, calling it “slow us down,” and emphasized that the company was “not being sold.” Openai Committee lawyer Andrew Nussbaum said in a statement that Openai is not about to sell, saying that the director’s “only fiduciary duty” would create a stronger, virtual AI system known as an artificial general. He said he emphasized that it is fulfilling the company’s mission. Intelligence (AGI) that benefits humanity. “Respectful,” he said, “it’s not the responsibility of our competitors to determine the greatest profits of our open mission.”
Mark Toberov, an attorney representing the Musk-led investment consortium, said the board’s rejection was “not a surprise.”
“Of course they are selling charity assets (management of commercial companies) and that’s what their “reorganization” is all about. They are just selling it to themselves with some of what the masks have offered,” Toberov said in a statement Friday. “Can someone explain how someone benefits ‘all humanity’? ”
Musk has repeatedly tried to derail Openai’s plans to restructure it as a more traditional for-profit business. The billionaire filed two lawsuits against Openai, who allegedly strayed from the establishment principles, asking the court to block ChatGPT makers’ restructuring efforts. The judge recently said he was reluctant to issue such an order immediately in a case that captured “billionaires and billionaires.”