The chief executive of OpenAI, the company behind ChatGPT, has firmly stated that it is “not for sale” following a $97.4bn (£78.4bn) acquisition bid from a consortium of investors led by Elon Musk.
Sam Altman, who co-founded OpenAI alongside Musk before a public dispute led to Musk’s departure, made the remarks while speaking at the AI Action Summit in Paris.
“We are an unusual organisation and we have this mission of making AGI (artificial general intelligence) benefit all of humanity, and we are here to do that,” Altman said during an on-stage interview.
When asked to define AGI, Altman responded, “most people use it to mean, like, really strong, powerful AI systems.”
Musk’s attorney, Marc Toberoff, confirmed that he had submitted the acquisition bid to OpenAI’s board on Monday, seeking to acquire all of the company’s assets.
Reacting to the offer, Altman took to Musk’s social media platform X, posting: “no thank you but we will buy twitter for $9.74 billion if you want.”
Who Owns OpenAI?
Unlike major tech corporations such as Meta or Microsoft, OpenAI is not publicly traded. Instead, it operates under a complex structure that involves both non-profit and for-profit divisions.
Musk has stated that his intention is to return OpenAI to its original non-profit foundation and core mission of advancing AI for the benefit of humanity.
However, Musk is also the owner of xAI, a competing artificial intelligence company. Christie Pitts, a tech investor based in San Francisco, expressed skepticism regarding Musk’s motives.
“I think it’s fair to be pretty suspicious of this considering that he has a competitor himself… which is structured as a for-profit company, so I think there’s more than meets the eye here,” she told.
Elon Musk and Sam AltmanAltman has made similar remarks, telling that Musk is “a competitor who is not able to beat us in the market and you know, instead is just trying to say, like, ‘I’m gonna buy this’ with total disregard for the mission.”
As OpenAI’s chief executive, Altman also sits on the board of its nonprofit arm. He previously stated in May last year that he does not own any stock in the company.
Altman has expressed a desire to transition OpenAI into a fully for-profit entity, arguing that such a move would enable the organization to raise more capital for AI research.
However, the decision regarding OpenAI’s future does not rest solely with Altman—the board holds authority over the company’s direction and may be inclined to consider a sale, particularly if the offer is increased.
The current bid of $97.4bn falls significantly short of OpenAI’s $157bn valuation during its latest funding round in October. Ongoing discussions regarding additional investment are said to value the company at $300bn.
In a statement, Toberoff indicated that the consortium would be “prepared to consider matching or exceeding” any competing bid should one arise.
“As the co-founder of OpenAI and the most innovative and successful tech industry leader in history, Musk is the person best positioned to protect and grow OpenAI’s technology,” Musk’s attorney said on behalf of his client and the consortium’s investors.
New AI Infrastructure Initiative
Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on a massive $500bn artificial intelligence infrastructure initiative within the United States.
The new entity, called The Stargate Project, was unveiled at the White House by President Donald Trump, who described it as “the largest AI infrastructure project by far in history” and emphasized its role in ensuring “the future of technology” remains in the U.S.
Despite being a key advisor to Trump, Musk has cast doubt on the initiative, claiming the project does not “actually have the money” it has pledged to invest. However, he has not provided any evidence or further details to support his claim.