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Bret Taylor, the chairman of OpenAI’s board, said the artificial intelligence company was “not for sale.” Mr. Musk is separately raising money for his A.I. start-up, xAI.

OpenAI’s board of directors on Friday rejected a $97.4 billion bid by Elon Musk and a consortium of investors to gain control of the artificial intelligence company, deepening a feud between Mr. Musk and OpenAI’s chief executive, Sam Altman.

In a statement, Bret Taylor, the chairman of the OpenAI board, said, “OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition.” Mr. Taylor was referring to Mr. Musk’s own A.I. company, xAI.

OpenAI sent a letter on Friday to Marc Toberoff, the lawyer representing Mr. Musk and the investors making the bid, saying the offer was “not in the best interests of OAI’s mission,” which is to build artificial intelligence that benefits “all of humanity.”

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