Elon Musk wants to buy OpenAI, but Sam Altman isn’t selling. The ChatGPT-maker’s CEO dismissed a $97.4 billion bid from a Musk-led consortium, according to the BBC.

The rejection highlights a growing rivalry between Altman and Musk, who co-founded OpenAI but later split over its direction. While Musk argues that OpenAI has strayed from its nonprofit roots, Altman insists the company must evolve to secure the funding required for AI advancements.

Musk’s legal team reportedly confirmed the bid was submitted to OpenAI’s board on Monday. The billionaire entrepreneur has long criticized OpenAI’s transition from a nonprofit to a for-profit model, arguing it betrays its original mission of developing AI for the benefit of humanity.

Musk’s Attempt to Regain Control

Musk’s consortium, which includes xAI, Baron Capital Group, and Emanuel Capital, seeks to steer OpenAI back to its nonprofit foundation. Despite Musk’s stated intentions, some experts remain skeptical.

Interestingly, Altman wasted no time in dismissing the bid, responding on Musk’s social platform X with a jab: "No thank you, but we will buy Twitter for $9.74 billion if you want." His comments highlight the lingering tensions between the two tech moguls.

no thank you but we will buy twitter for $9.74 billion if you want

— Sam Altman (@sama) February 10, 2025

Musk’s move adds another layer to an already complex battle over OpenAI’s future. While Altman leads the charge toward a full for-profit model, Musk has sued OpenAI, accusing its leadership of prioritizing profit over public good.

His lawsuit, filed last year, aims to prevent OpenAI’s transition, arguing that it contradicts the company’s original agreement. The bid also arrives amid OpenAI’s ongoing fundraising efforts. The company was reportedly valued at $157 billion in October 2023, with talks for a new funding round reportedly pushing its valuation toward $300 billion.

The Board Holds the Key

While Altman has made his stance clear, OpenAI’s future ultimately rests in the hands of its board. Some analysts believe the board has a fiduciary duty to consider Musk’s bid, especially if he improves the offer.

Not surprising, as I just learned that OpenAI had access to Twitter database for training. I put that on pause for now.

Need to understand more about governance structure & revenue plans going forward.

OpenAI was started as open-source & non-profit. Neither are still true.

— Elon Musk (@elonmusk) December 4, 2022

Adding another twist, OpenAI is spearheading a $500 billion AI infrastructure project alongside Oracle and international investors. The initiative, unveiled by President Donald Trump, aims to cement the U.S.'s dominance in AI development.

For now, OpenAI remains firm in its refusal to sell. Musk’s consortium has hinted at a potential counteroffer, and legal battles over OpenAI’s governance loom large.