SAN FRANCISCO (AP) — OpenAI says its board of directors has unanimously rejected a $97.4 billion takeover bid by Elon Musk. “OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition,” said a statement Friday from Bret Taylor, chair of OpenAI’s board.

Key Takeaways OpenAI rejected a reported $97.4 billion takeover offer from an Elon Musk-led investor group. OpenAI Chair Bret Taylor said Friday the company is "not for sale," after CEO Sam Altman rebuffed the offer in a post on X earlier this week.

Elon Musk says he will drop his $97.4 billion bid for OpenAI on one condition: CEO Sam Altman must ditch his plan to make it for-profit