‘Not for sale’: Openi rejected Elon Musk’s $ 97.4 billion takeover – Times of India

The board of directors of Openai unanimously rejected a proposal from Tesla’s CEO on Saturday Elon Musk To buy Artificial Intelligence Company for $ 97.4 billion.
“OpenEE is not for sale, and the board unanimously rejected Mr. Musk’s latest attempt to disrupt its competition,” said in a statement posted on X, Chairman of Openai’s board, Bretlor said.
The statement also said, “Our non -profit and its mission will be strengthened to ensure AGI from any possible reorganization of openiI (Artificial general intelligence) All benefits of humanity. ,
Musk had filed court documents on Wednesday, stating that if Openi’s board agrees to return to a non-profit model, he would withdraw his proposal.
Openai currently serves as a non-profitable with a beneficial subsidiary. Changes towards a profit-profit model, which CEO Sam Altman has said that it is necessary for development, there has been a point of disagreement between Musk and the company.
Musk was one of Openai’s original founders in 2015, contributing $ 45 million to the early money. He left the company in 2018 due to a “potential future struggle” with Tesla, focusing his focus on artificial intelligence.
In 2023, Musk launched its AI Company, XAI after Openai attracted global attention to her progress in the region.
The cost of developing and running the AI ​​model has pushed Openai to invest and look for a new corporate structure. Changes in a profit-profit model require approval from authorities in California and Delaware, which will review how the non-profit hand of OpenaiI is given importance as it becomes a shareholder in the new unit.
Current investors are emphasizing for low evaluation to increase their stake in the new company. Musk’s dialect, Openi, evaluating $ 97.4 billion – 30 billion more than the ongoing conversation, as per the information – is seen as a challenge for the company’s funding efforts.
Openai’s Chief Global Affairs officer Chris Lehene said Musk’s offer came from a contestant “who struggled to live with technology and compete with us in the market.”