OpenAI Stays Nonprofit Despite Musk's Billion-Dollar Bid, CEO Altman Reacts

OpenAI CEO Sam Altman dismissed Elon Musk's $97.4 billion bid to buy the nonprofit controlling OpenAI as 'ridiculous.' The offer, not officially received, aims to block OpenAI's transition to for-profit. Legal experts say the bid complicates valuing charitable assets amid regulatory scrutiny.

OpenAI CEO Sam Altman has dismissed Elon Musk's $97.4 billion offer to acquire the nonprofit controlling OpenAI, labeling the proposal as 'ridiculous.' The potential transaction, which surfaced during an AI summit in Paris, was reportedly never formally received by OpenAI's board.

Musk's lawyer claimed that the offer had been sent to OpenAI's legal counsel, but insiders assert that the board has yet to review any such bid. Altman reiterated the organization's commitment to its mission, stating that the nonprofit is not for sale and expressing concerns over Musk's intentions.

The unfolding situation has legal ramifications, as regulators are closely examining the implications for OpenAI's transition from nonprofit to for-profit status. Industry experts suggest that Musk's bid could influence discussions on the appropriate valuation of the nonprofit's assets.

(With inputs from agencies.)