Elon Musk has made a bold move by launching a $97.4 billion bid to acquire OpenAI. According to The Wall Street Journal, a group of investors led by Musk’s xAI has put forward an unsolicited offer to the company’s board of directors. Their aim is to purchase the nonprofit organization that oversees OpenAI’s for-profit arm.
In response to inquiries, a spokesperson for OpenAI directed attention to a social media post by CEO Sam Altman, where he humorously declined Musk’s offer and suggested buying Twitter instead. Altman’s witty response showcases the company’s stance on the matter.
Despite Musk’s significant bid, OpenAI’s board of directors officially turned it down on Friday. Board chair Bret Taylor emphasized that the organization is not up for sale and rejected Musk’s attempt to disrupt the competition. Taylor’s statement underscores OpenAI’s commitment to its nonprofit mission of ensuring that artificial general intelligence (AGI) benefits all of humanity.
Interestingly, Taylor, who previously chaired Twitter’s board, has firsthand experience with Musk’s acquisitions, as the tech mogul purchased the social media platform for $44 billion in 2022.
Musk’s attorney shared a statement expressing his determination to see OpenAI return to its roots as an open-source advocate for safety and social good. The future of OpenAI remains uncertain as Musk’s bid challenges its nonprofit structure, which may protect it from external takeovers.
Overall, the situation raises questions about the seriousness of Musk’s bid and its chances of success. OpenAI’s unique organizational structure and mission-driven approach may prove to be significant hurdles for Musk’s proposal. While the outcome remains unclear, the ongoing developments highlight the evolving landscape of AI governance and corporate partnerships.
For more information, visit the original article on Engadget at https://www.engadget.com/ai/openais-board-unanimously-rejects-elon-musks-974-billion-takeover-bid-215221683.html?src=rss.
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