Openai’s board has not received a formal offer from the consortium led by Elon Musk, although the billionaire’s lawyers said the offer had been sent to Openai’s external consultants.
The day after Musk announced the offer of $97.4 billion (about Rs 845,581 crore), the purchase of a nonprofit that controls ChatGpt Maker Openai was still in conflict with what was exactly what happened in the formal bid.
Sources familiar with the matter told Reuters on Tuesday that Openai’s board of directors has not received a formal bid from the Musk Group, adding to unsolicited confusion about controlling the world’s most prominent AI companies.
Musk’s attorney Marc Toberoff told Reuters he emailed the offer on Monday, which gave Openai’s external consultants, Lipton, Lipton, Rosen & Katz. The law firm did not immediately respond to a request for comment.
Toberoff said the bid (attached to the email) was in the form of a “detailed four-page letter of intent” that purchased the assets of OpenAI signed by Musk and other investors and sent to the board to the board.
He refers to the CEO of OpenAi, “Whether Sam Altman chooses to offer or reject this to other board members of OpenAI, it is not outside our control.”
When asked about Musk’s proposal to buy it, Altman told Reuters on Tuesday that Controls OpenAI’s nonprofit is not for sale. The proposal of the Musk-led consortium is to stop AI startups from transitioning from for-profit companies in the billionaire struggle.
“I have nothing to say. I mean, it’s ridiculous,” Altmann said on the sidelines of an AI summit in Paris when asked about the offer.
Altman refers to Musk, saying: “The company is not for sale. It’s another strategy he has, trying to mess with us.”
In an internal message to OpenAI employees on Monday, Altman said the board of directors plans to reject the proposal based on the interest of OpenAI mission, although it has not formally reviewed the proposal.
Musk co-founded Openai as a nonprofit in 2015 with Altman, but the company was ahead of the company’s takeoff due to disagreements over the company’s guidance and funding sources with Altman and other co-founders. Leaving. In 2023, he launched a competitive AI startup Xai.
Musk, CEO of Tesla and owner of technology company X, is a close ally of U.S. President Donald Trump. He leads the Department of Administration Efficiency, the new White House unit, responsible for fundamentally narrowing down federal bureaucracy.
In raising $40 billion (approximately Rs 347,135 crore), Openai is also seeking to transition from a nonprofit entity to for-profit, which it says is the capital needed to ensure the best AI model is developed. The complex transition involves price tags on Openai’s nonprofit control over the for-profit sector.
Delaware Attorney General Kathy Jennings said she is reviewing Openai’s proposed changes to ensure the company “complys with its specific philanthropic purposes to benefit public beneficiaries, rather than OpenAI directors or The business or private interests of the partner.”
Legal experts say Musk’s bid complicates OpenAI’s fair value, especially about its complex corporate conversion-based charitable assets, meaning in exchange for nonprofits to abandon the price they need to control.
“This does help define the value point for the valuation of nonprofit assets,” Robert Weissman, co-president of the consumer rights regulator Public Citizen, told Reuters. “If it happens as proposed,” , it is the responsibility of regulators to ensure that fair market value is obtained if the assets are sold to for-profit entities.”
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