Openai on Friday rejected $97.4 billion (about Rs 845,768 crore) from a consortium of Chatgpt Maker led by billionaire Elon Musk, saying the startup is not for sale and any future bids All are inconspicuous.
The proactive approach is Musk’s latest attempt to stop the startup he co-founded with Openai CEO Sam Altman (but later left) becoming a for-profit company as it hopes to get more money and in the process of artificial Maintain a leading (AI) race in intelligence (AI).
“Openai is not for sale, and the board unanimously rejects Mr. Musk’s latest attempt to undermine his competition. Any potential restructuring of OpenAI will strengthen our nonprofit and its mission to make AGI to ensure AGI benefits.” Bret Taylor, Chairman of OpenAI Representative to the Board of Directors.
Musk’s attorney Marc Toberoff responded in a statement that Openai is controlling for-profit businesses for sale and said the move would “enrich some of its board members rather than charities.”
Openai outlined plans to revamp its structure in late December, saying it would create a public welfare company to make it easier to raise more money than we think, and eliminate the current nonprofit parents impose on startups. limit.
On Monday, Altman rejected the consortium’s offer, which read “No Thank You” on X, prompting Musk to retort: ”Swindler.” Altman told news site Axios on Tuesday that Openai is not for sale.
Musk’s lawyers said in court filing Wednesday that consortiums, including Musk’s own AI startup XAI, would withdraw its bid for OpenAI’s nonprofit division if it discards plans to become a for-profit entity.
“Two days ago, you filed a complaint in court, adding new material conditions to the proposal. Thanks to the filing, it is now clear that your client’s “a lot of publicity ‘bidding’ is not actually a bid,” according to the representative of the company. An letter signed by the Openai board of directors said it was sent to Toberoff on Friday.
Other investors in the consortium include Valor Equity Partners, Baron Capital and Hollywood Power Broker Ari Emanuel.
Ultraman and Musk have been on Loggerheads for years.
After Musk left in 2019, Openai created a for-profit division that attracted billions of dollars in funding, which sparked allegations from Musk that the company has pushed profits into the greater public interest. Violated its original mission.
Musk sued Altman in August last year, Openai and its biggest supporter Microsoft for allegedly breach of contract.
In November, Musk asked a federal court to adopt a preliminary injunction to prevent Openai from turning to a for-profit structure.
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