OpenAI’s Altman Says Musk ‘Probably Just Trying to Slow Us Down’ as he rebuffs his $97.4 billion offer
OpenAI Chief Executive Officer Sam Altman rebuffed Elon Musk’s $97.4 billion offer to take control of the artificial-intelligence startup for the second time in less than a day, accusing the world’s richest man of making the bid just to gain a competitive advantage.
“I think he is probably just trying to slow us down. He obviously is a competitor,” Altman said in an interview with Bloomberg Television Tuesday on the sidelines of the Paris AI summit. “I wish he would just compete by building a better product, but I think there’s been a lot of tactics, many, many lawsuits, all sorts of other crazy stuff, now this.”
Musk and Altman were both co-founders of OpenAI, but Musk ultimately parted ways after disagreements over the direction of the company. He is now suing the startup behind ChatGPT for straying from its founding mission and prioritizing profit over the betterment of humanity. Musk has also established his own AI firm, xAI, that competes directly with OpenAI in developing models.
In the interview on Tuesday, Altman chided Musk, saying: “Probably his whole life is from a position of insecurity — I feel for the guy.” Altman added that he doesn’t think Musk is “a happy person.”
While Altman is publicly rebuffing Musk’s takeover attempt, OpenAI’s board will have some say in how seriously to take the bid.
The organization’s board oversees its nonprofit arm, which in turn controls the for-profit business. But Bret Taylor, the former co-CEO of Salesforce Inc. who took over as chairman in 2023 following a dramatic falling out between Altman and OpenAI’s previous board, has a fraught history with Musk. He was chairman of Twitter when Musk made his unsolicited bid to buy the business and then tried to back out — before a court forced him to proceed.
On Monday, when news of Musk’s offer for OpenAI control first surfaced, Altman jokingly posted on X, formerly known as Twitter: “No thank you but we will buy twitter for $9.74 billion if you want.”
Musk’s attorney said his offer was backed by xAI and had support from a range of investors including Valor Equity Partners, Baron Capital, Atreides Management, Vy Capital, Joe Lonsdale’s 8VC and media executive Ari Emanuel, through his investment fund.
Meanwhile, OpenAI is in the middle of trying to orchestrate a massive fundraising round that may give the company a post-money valuation of $300 billion, Bloomberg previously reported. The company was valued at $157 billion in October.
Altman added in the interview Tuesday that the OpenAI board is look
ing at a range of options for the business in the future. But selling the AI operations is not on the table.
“OpenAI is not for sale,” he said. “The OpenAI mission is not for sale.”
OpenAI completely overhauled its board following the blowup between Altman and directors. Among the directors now are former Treasury Secretary Larry Summers and investment banker Adebayo Ogunlesi. Summers is a paid contributor to Bloomberg TV.
This article was first reported by BNN Bloomberg
