OpenAI's board has spoken, unanimously rejected a $97.4 billion offer from a consortium led by Elon Musk to buy the company.
"OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition," OpenAI Chairman Bret Taylor said in a statement on behalf of the company's board.
"Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity," Taylor added, according to a report by Reuters.
Read Also: Elon Musk Makes $97.4 Billion Bid for OpenAI, But Sam Altman Fires Back With 'No, Thank You'
Musk's bid to purchase OpenAI comes after the company announced that it was going to revamp its structure.
CEO Sam Altman previously replied "no thank you" on X (formerly Twitter) to Musk's offer to buy the company, adding the OpenAI can buy X instead for the same amount. Altman has since reiterated that OpenAI is not for sale.
He has also accused Musk of "trying to slow" OpenAI down with his bid to purchase the company.
Musk's lawyer, Marc Toberoff, said in a statement that OpenAI's restructuring will only "enrich its certain board members rather than the charity."
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