Artificial intelligence developer OpenAI is “not for sale”, a senior executive said Tuesday in response to a reported $97.4 billion bid from competitor Elon Musk.

“OpenAI is not for sale and any such suggestion is really disingenuous,” the company’s Chief Global Affairs Officer Chris Lehane said on the sidelines of an AI summit in Paris, dismissing the offer as coming from a competitor “who has struggled to keep up with the technology and compete with us in the marketplace”.