A lawyer for Elon Musk said the billionaire will withdraw his bid for OpenAI's nonprofit if OpenAI's board of directors agree to terms.

In a court filing, Mr. Musk said he and other investors would pull their $97.4 billion bid if OpenAI withdrew its plan to change its structure.

The unsolicited offer has complicated OpenAI CEO Sam Altman’s plans for the ChatGPT maker’s future.

Musk’s consortium, which includes VCs like Joe Lonsdale’s 8VC and SpaceX investor Vy Capital, is offering exactly $97.375 billion to buy out OpenAI, and says in the letter 100% of the purchase price “would be paid in cash.”

A consortium led by Elon Musk will withdraw its $97.4-billion bid for OpenAI's non-profit arm if the ChatGPT maker drops plans to become a for-profit entity, the billionaire's lawyers said in a court filing on Wednesday.

Elon Musk says he will abandon his $97.4 billion offer to buy the nonprofit behind OpenAI if the ChatGPT maker drops its plan to convert into a for-profit company.

A court filing stated that, if OpenAI stops its restructuring, Elon Musk will withdraw his $97.4 billion proposal to buy the company. OpenAI alleges Musk wants to boost his own AI business.

Billionaire Elon Musk's bid to buy OpenAI, which wants to be a for-profit entity, clashes with his lawsuit arguing that assets of the ChatGPT maker should not be for private gain, OpenAI wrote in a letter it submitted to a federal court on Wednesday.

A group of investors led by Elon Musk says it is offering $97.4 billion to buy OpenAI, escalating a legal dispute with the artificial intelligence company that Musk helped found.

The public showdown between Elon Musk and OpenAI Chief Executive Officer Sam Altman over Musk’s $97.4 billion bid for the artificial intelligence startup is heating up in court.

After claiming he led a group of investors to purchase OpenAI, the creator of ChatGPT, Elon Musk said he would drop its bid if the artificial intelligence leader remained a nonprofit.