A group of investors led by tech-billionaire Elon Musk has bid £97.4billion to buy ChatGPT maker OpenAI.
The X owner's attorney, Marc Toberoff, confirmed he submitted the bid for "all assets" of the company to its board on Monday.
In response to the bid, Altman posted on Musk's social media platform X: "no thank you but we will buy twitter for $9.74 billion if you want."
Mr Musk co-founded OpenAI with its current chief executive Sam Altman in 2015, but left in 2018 before it launched ChatGPT in 2022.
Initially launched as a non-profit, it is said Mr Altman is restructuring the company to become a for-profit model.
In a statement, Mr Musk said: "It's time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens."
The bid to take over OpenAI is being backed by Musk's AI company xAI, as well as several private equity firms, including Baron Capital Group and Valor Management.
The $97.4billion is lower than the $157billion the company was valued at in its latest funding round in October last year, however talks over a further funding round reportedly value it now at $300billion.
FTSE 100
The UK's flagship share index, the FTSE 100, up 79-points at 8,789 shortly after opening this morning.
Brent crude oil futures were up 0.83%, trading at $76.50 a barrel.
Companies reporting today
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Babcock International Group | Q3 Trading Statement |
Bellway | Trading Statement |
BP | Full Year Results |
Coca-Cola | Q4 Results |
Dunelm Group | Half Year Results |
PZ Cussons | Half Year Results |
Shopify | Q4 Results |
TUI | Q1 Results |