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OpenAI CEO Sam Altman has rejected a $97 billion offer from a group of investors led by Elon Musk

OpenAI CEO Sam Altman has rejected a $97 billion takeover offer from a group of investors led by Elon Musk, according to a report by the BBC.

Altman, who co-founded OpenAI with Musk before their public fallout, dismissed the bid during an interview at the AI Action Summit in Paris. “We are not for sale,” he stated, emphasizing OpenAI’s mission to ensure artificial general intelligence (AGI) benefits all of humanity.

Musk’s lawyer, Marc Toberoff, confirmed the formal offer for OpenAI’s assets. In response, Altman jokingly posted on Musk’s platform, X: “No thank you, but we’ll buy Twitter for $9.74 billion if you’re interested.”

OpenAI operates with a unique structure, blending nonprofit and for-profit elements, setting it apart from other major tech companies. Musk has expressed a desire to return OpenAI to its nonprofit origins, claiming it would better align with the goal of advancing AI for the greater good.

However, Altman and OpenAI’s leadership remain cautious of Musk’s intentions, particularly given his ownership of xAI, a rival AI company.

While Altman has hinted at plans to fully transition OpenAI into a for-profit entity to secure additional funding for AI research, the ultimate decision regarding OpenAI’s future direction will rest with its board.

The $97.4 billion offer comes in stark contrast to OpenAI’s $157 billion valuation last year, with recent funding rounds reportedly valuing the company at $300 billion.

Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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