SAN FRANCISCO (AP) — OpenAI says its board of directors has unanimously rejected a $97.4 billion takeover bid by Elon Musk.

OpenAI’s board of directors has formally rejected a $97.4 billion bid by Elon Musk and other investors to purchase the company.

Elon Musk’s artificial intelligence startup xAI is meeting with investors about a potential $10 billion fundraising round, Bloomberg reported Friday.

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The rejection stated that the board decided the bid was “not in the best interests” of the company’s mission.

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