San Francisco: OpenAI has officially rejected Elon Musk's proposal to buy the artificial intelligence startup's nonprofit parent for USD 97.4 billion.
According to Kuwait News Agency, in a short letter to Musk's lawyer late Friday, OpenAI's attorney, William Savitt, stated that the OpenAI board had reviewed the proposal and determined that the billionaire's "much-publicized 'bid' is in fact not a bid at all," reported CNBC news network.
The "proposal, even as first presented, is not in the best interest of OAI's mission and is rejected," Savitt wrote to Marc Toberoff, who represents Musk. "The decision of the OAI board on this matter is unanimous." OpenAI Chairman Bret Taylor said in a statement that the company "is not for sale." "Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity," he wrote, referring to artificial general intelligence.