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.

"I feel for the guy," Sam Altman told Bloomberg TV at the AI Action Summit in Paris. "I don’t think he’s a happy person."

The group’s $97 billion offer is far lower than the OpenAI’s most recent valuation by investors. OpenAI CEO Sam Altman rebuffed the offer in a post on X.