Financial Times sources claim that OpenAI is considering solutions that would help directors retain control of the company in order to block a potential acquisition of OpenAI by Elon Musk.
Financial Times sources claim that OpenAI is considering solutions that would help directors retain control of the company in order to block a potential acquisition of OpenAI by Elon Musk.
One such step could be to grant special voting rights to its non-profit board, Reuters writes, citing the FT.
Musk, who founded OpenAI with current CEO Sam Altman in 2015, has reportedly offered to buy the company for $97.4 billion. That’s well below the $157 billion OpenAI was valued at last October. Many experts now believe the company could be worth more than $300 billion.
On Friday, OpenAI rejected an offer from a consortium led by Elon Musk, saying the startup was not for sale and dismissing any future offers as dishonest.
Now, CEO Sam Altman and board members are evaluating new governance arrangements as the company transitions to a traditional commercial structure. While no firm decisions have been made, the move could help OpenAI block future hostile takeover attempts.
Musk’s proposal is his latest attempt to prevent OpenAI from becoming a for-profit company. The move to a commercial structure is necessary for OpenAI to secure funding to remain competitive in the AI race.
«If the OpenAI board is willing to preserve the charity’s mission and remove the ‘for sale’ sign from its assets, halting these transformations, then Musk will withdraw his offer. The charity should be compensated with the amount that an independent buyer would pay for its assets,» the consortium noted.
In response, Altman laconically rejected the offer on Elon Musk’s social network X (Twitter). «No thanks, but we’ll buy Twitter for $9.74 billion if you want,» the OpenAI chief wrote.
