Elon Musk-led $97 billion purchase offer - For OpenAI

OpenAI’s board of directors has officially turned down a $97.4 billion offer from Elon Musk and other investors to buy the company.

"OpenAI is not for sale, and the board has unanimously rejected Elon Musk's latest attempt to interfere with his competitors," OpenAI Board Chair Bret Taylor said in a statement on X on Friday.

The statement is the latest development in an ongoing dispute between OpenAI and Elon Musk over the company's restructuring plans. OpenAI was originally founded as a non-profit research lab by a group that included Musk and current CEO Sam Altman. However, the company now plans to restructure to make it easier to raise funds and provide better financial returns for investors and employees.

Taylor, who previously led the board of X (formerly Twitter) when Musk attempted to buy the company, said in a statement on Friday that any restructuring of OpenAI would reinforce its nonprofit mission to ensure that Artificial General Intelligence (AGI) benefits everyone.