The news: OpenAI CEO Sam Altman rejected an unsolicited $97.4 billion bid from a group of investors led by Elon Musk. “OpenAI’s mission is not for sale. A competitor who is not able to beat us in the market wants to buy us instead,” Altman said, per Axios.
- The bid, which aims to take control of the nonprofit that governs OpenAI, was submitted Monday by Marc Toberoff, Musk’s attorney.
- Musk, xAI, and investors including Baron Capital, Valor Management, Atreides Management, VY Fund, Emmanuel Capital, and Eight Partners VC backed the bid.