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EMARKETER

OpenAI’s Sam Altman rejects $97 billion takeover bid

Article by Gadjo Sevilla  |  Feb 11, 2025
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OpenAI’s Sam Altman rejects $97 billion takeover bid
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Artificial Intelligence (AI)
Business Strategies & Trends
Politics
United States

The news: OpenAI CEO Sam Altman rejected an unsolicited $97.4 billion bid from a group of investors led by Elon Musk. “OpenAI’s mission is not for sale. A competitor who is not able to beat us in the market wants to buy us instead,” Altman said, per Axios.

  • The bid, which aims to take control of the nonprofit that governs OpenAI, was submitted Monday by Marc Toberoff, Musk’s attorney.
  • Musk, xAI, and investors including Baron Capital, Valor Management, Atreides Management, VY Fund, Emmanuel Capital, and Eight Partners VC backed the bid.

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