OpenAI’s board of directors has formally rejected an offer from a group of investors led by Elon Musk to buy the nonprofit that controls the artificial intelligence company for $97.4 billion.

In a court filing following Musk’s bid, OpenAI argued that his offer to buy the company undermines the very claim at the ...

Regardless of the outcome, Musk's bid is expected to complicate the company's restructuring process at a time when OpenAI is ...