Tech billionaire Elon Musk has made a bid to purchase another major technology company, but his $97 billion offer for ChatGPT-maker OpenAI has fallen flat.
Bret Taylor, the board chair for OpenAI, shared in a statement on behalf of the board that the company was “not for sale.”
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition,” Taylor said. “Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
Musk formally submitted a $97.4 billion bid for OpenAI earlier this week but added that he would withdraw the offer if he halted a potential transition into a for-profit company.
Musk is currently suing the company, which he co-founded as a nonprofit in 2015, and its leader, Sam Altman, over what he says is corporate misconduct.
The billionaire’s lawsuit alleges that the company is conducting corporate misconduct by transitioning into a for-profit business.
A federal judge said this month that she would not object to having the lawsuit move forward to trial, The Associated Press reported.