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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