The recent opening rejected a $97.4 billion bid by a consortium led by billionaire Elon Musk for ChatGpt makers, stating that the startup is not up for sale.
This unsolicited offer is Musk’s latest attempt to thwart a startup co-founded with CEO Sam Altman.
“Openai is not for sale. The board unanimously turned down this latest attempt to disrupt Musk’s competition. Openai emphasized that their mission is to ensure that AGI benefits humanity and mentioned the possibility of a reorganization as a nonprofit organization.”
Altman confirmed in an interview with Axios that Openai is not for sale, and he responded to Musk’s offer with a simple “no thanks,” prompting Musk to call him a “swindler.”
A consortium, including Musk-led AI startup Xai, stated that they would withdraw their bid for Openai’s nonprofit status if plans to become a for-profit organization were removed, as per a court application filed on Wednesday.
Two days ago, the consortium introduced new terms in the proposal through a court filing. The filing exposed that the client’s “published ‘bids’ were not actual bids at all.” The Openai board communicated their position to Musk’s lawyer on Friday.
Other investors in the consortium include Valor Equity Partners, Baron Capital, and Hollywood Power Broker Ari Emanuel.
Altman and Musk have been in conflict for several years.
After Musk’s departure in 2019, Openai established a for-profit division that attracted significant fundraising, leading Musk to claim that the startup was deviating from its original mission and focusing more on profits than public good.
Musk filed a lawsuit against Altman, Openai, and their major supporter Microsoft in August last year on grounds of breach of contract.
In November, Musk requested a preliminary injunction from a US district judge to prevent the transition to a for-profit structure.
Source: www.theguardian.com
