penAI has reported that it did not receive a formal bid from Elon Musk’s consortium, even though one of Musk’s lawyers said that an offer had already
been sent to It.
Even more so, only one day after Musk made public his bid that offered $97.4 billion in exchange for buying the non-profit organization that is the mother of ChatGPT, the situation seemed to have entered a gray area.
Reuters reported that OpenAI’s board of directors has not received an official bid from Musk’s team. Elon Musk’s attempt to obtain control over the world’s most notorious AI system is still ongoing. Musk’s lawyer told Reuters that the offer was sent via email on Monday to OpenAI’s outside counsel at Wachtell, Lipton, Rosen & Katz. However, the law firm was not open to comments.
It was also made public that the bid was sent via email and organized as a “detailed four-page Letter of Intent" for purchasing OpenAI’s assets. It was signed by Musk and other possible investors and addressed to the board of directors.
Marc Toberoff also added, “Whether Sam Altman chose to provide or withhold this from OpenAI's other Board members is outside of our control,”.
However, Sam Altman, the CEO of OpenAI, told Reuters that it is not for sale. The offer made by Musk came as a result of the artificial intelligence company's transition to a for-profit company. Even more so, Altmans said “I have nothing to say. I mean, it's ridiculous," regarding the offer.
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“The company is not for sale. It's another one of his tactics to try to mess with us”, added Altman referring to Musk. In an internal discussion from the company, OpenAI’s employees said on Monday that they would have rejected the offer, even if they had not officially reviewed the letter.
It is also worth mentioning that Musk confounded the artificial intelligence company with Altman in 2015, the purpose of the company was to remain nonprofit. Yet, Musk left the company before it took off due to disagreements over the company’s direction.
OpenAI is currently in the process of raising $40 billion in order to create the best AI models, as well as transitioning from a nonprofit entity to a for-profit one. And, as a result, General Attorney Kathy Jennings said that she is reviewing OpenAI’s changes in order to ensure the company is “adhering to its specific charitable purposes for the benefit of the public beneficiaries, as opposed to the commercial or private interests of OpenAI’s directors or partners."
By
Adam Brown
•
February 12, 2025 5:10 PM
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