Sam Altman Dismisses Elon Musk’s Bid to Buy OpenAI in Letter to Staff
1 min read
Summary
In a letter to staff, OpenAI CEO Sam Altman stated that the board was not interested in a bid led by Elon Musk to acquire the company.
The offer, valued at $97.4bn, was made by a group of investors led by Musk, CEO of rival AI company xAI.
Although the board has not yet received an official offer, which will be rejected, Altman suggested that the decision was due to Musk’s activities with xAI.
The letter also highlighted that OpenAI’s structure was set up to ensure that no one individual could take control of the organisation.
However, the offer does place a valuation on OpenAI’s assets and may complicate any plans Altman has to spin off assets into a for-profit company under his control.
Furthermore, the fact that OpenAI is currently negotiating to increase its valuation to $300bn may also influence the board’s decision.
