Larry Summers, a board member of OpenAI, states he has not received any formal communication regarding Elon Musk's $97.4 billion bid to acquire the company. While Musk aims to make OpenAI open-source again, OpenAI CEO Sam Altman dismisses the offer, suggesting it's a competitive maneuver.
February 11, 2025 at 11:40AM EST -- OpenAI director Larry Summers said he has not received any formal outreach from billionaire Elon Musk and his consortium of investors about their $97.4 billion offer to take control of the ChatGPT maker.
“As a board member, I have not received any formal communication of any kind outside of media reports,” Summers said in an interview with Bloomberg Television on Tuesday. Musk made waves a day earlier with an unsolicited bid to buy the nonprofit that controls OpenAI, the company he helped co-found a decade ago. With the offer, Musk said he hopes to return OpenAI to being “the open-source, safety-focused force for good it once was,” according to a statement.
OpenAI Chief Executive Officer Sam Altman quickly rebuffed the offer and accused the world’s richest man of making the bid to gain a competitive advantage. “I think he is probably just trying to slow us down. He obviously is a competitor,” Altman said in a separate interview with Bloomberg Television Tuesday on the sidelines of an AI summit in Paris.
Asked if Musk’s bid could complicate OpenAI’s plans to restructure as a traditional for-profit business, Summers said the company will “speak to that, as appropriate, if and when the board actually receives an offer, as distinct from reading media reports.”
ELON MUSK OPENAI LARRY SUMMERS SAM ALTMAN TAKEOVER BID
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