Openai’s board of directors “unanimously” rejected the offer of billionaire Elon Musk, who would buy a nonprofit that effectively governs Openai, the company said Friday.
In a statement shared at X’s Openai press conference, Bret Taylor, known as Musk’s Bid, called him a “attempt to disrupt his competition.”
“Openai is not on sale. The board unanimously rejected its latest attempt to disrupt Musk’s competition,” Taylor said. “Openai’s potential reorganization strengthens nonprofits and their mission, ensuring that (artificial general information) benefits all humanity.”
The New York Times reported that Open also sent a letter to Musk’s lawyer Mark Toberov, saying the bid was “not in the best interests of the (open) mission.”
On Monday, Musk, his AI company, Xai and an investor group offered to buy Openai’s nonprofit for $97.4 billion. Openai CEO Sam Altman and the company’s board of directors have rejected the unsolicited proposal, although not officially prompt. In a statement, Andy Nussbaum, a lawyer representing Openai’s board, said Musk’s bids “does not set the value of (Openai’s) nonprofits “not being sold.” “He said.
Openai co-founder Musk filed a lawsuit against the company and Altman last year, claiming Openai is engaged in anti-competitive behavior and fraud.
Openai was founded as a nonprofit organization in 2019 before moving to a “capped for-profit” structure. The nonprofit is the sole control shareholder of Capped-Profit Openai Corporation, which maintains formal fiduciary responsibility for the nonprofit charter. Openai is currently in the process of restructuring. This time, we will be focusing on traditional commercial companies, especially public benefits corporations. However, Musk is trying to ban conversion through lawsuits.
In a court filing Wednesday, Musk’s lawyer said Openai’s board of directors “protecting the mission of charity” and that if the billionaire ceases to convert to Openai’s for-profit organization, the billionaire will withdraw his bid. . An Openai lawyer filed earlier that day, a contradiction in his position in court that “inappropriate bids to undermine competitors” and that the transfer of startup assets through restructuring would infringe that infringement. It called for a move by masks to gain control of the company. Mission as a charitable trust.
Musk’s allies and Altman traded the blow in bids this week. In an interview with the podcast on Thursday, Ali Emmanuel, one of the supporters of the mask offer to Openman’s nonprofit, was called “fake” and “trying to escape with cheating on charity and its mission.” It’s there. Altman saw Mask’s bid as an “attempt to slow down” and said that Mask’s life was “from an uncertainty position.”