The Open AI board of directors has officially rejected the $97.4 billion (Rs 97,400 crore) offer made by Elon Musk's investors. The board told investors that Open AI is not for sale.

Open AI chairman Bret Taylor said that Open AI is not for sale and that the board unanimously rejected Musk's offer, adding that Musk sees the purchase as serving his competitive goals.

This is part of Elon Musk's move to take control of OpenAI, the company behind ChatGPT. Musk's lawyer Mark Tobaroff said that the offer was presented to OpenAI's board on Monday, The Wall Street Journal reported. A group of investors led by Musk tried but failed to buy the nonprofit that controls OpenAI.

Altman is already working on a major transformation, with the goal of turning OpenAI into a fully for-profit company and raising up to $500 billion through a joint venture called Stargate.

Founded in 2015 by Musk, Altman, and other co-founders, OpenAI operated as a nonprofit. But in 2019, the company's structure changed with the intention of turning a profit. Elon has repeatedly criticized this change.

The animosity between Musk and Altman has been growing for years. After leaving OpenAI, Musk alleged that the company had abandoned its mission of operating as a non-profit. He even filed lawsuits alleging that OpenAI was working too closely with Microsoft, which had invested billions in the company.

Musk left OpenAI in 2018. In June 2024, he filed a lawsuit against OpenAI. He later withdrew the lawsuit, but filed another lawsuit in August. He alleged in the lawsuit that OpenAI prioritizes profit and ignores the public good.