OpenAI board unanimously rejects Elon Musk's takeover offer

What OpenAI is saying, per a letter sent to Musk's attorney:

"Earlier this week, you sent a letter on behalf of a consortium of corporate and financial entities offering to acquire all of the assets of OpenAI, Inc. ("OAI"), and to do so imminently, subject to numerous conditions. Two days ago, you filed a pleading in court adding new material conditions to the proposal. As a result of that filing, it is now apparent that your clients' much- publicized 'bid' is in fact not a bid at all.

In any event, your clients' proposal, even as first presented, is not in the best interests of OAI's mission and is rejected. The decision of the OAI board on this matter is unanimous."

Zoom in: OpenAI is in the process of separating its nonprofit board from its for-profit business, and Musk's bid was for the latter. He also offered to withdraw the effort were OpenAI to remain nonprofit.

For the record: Musk has not yet commented on the rejection.

This is a developing story. Check back for updates.