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Elon Musk will withdraw bid for OpenAI’s nonprofit if its board agrees to terms
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 on Wednesday, a lawyer for Elon Musk said the billionaire will withdraw his $97.4 billion bid for OpenAI’s nonprofit if the ChatGPT maker’s board of directors “preserve the charity’s mission” and halt its conversion to a for-profit corporation. The filing is the latest development in a saga that began on Monday, when Musk, his AI company, xAI, and a group of investors offered to buy the nonprofit that effectively governs OpenAI for $97.4 billion. In a filing earlier on Wednesday, attorneys for OpenAI called Musk’s move to take control of the company “an improper bid to undermine a competitor,” and a contradiction of his position in court that a transfer of the startup’s assets through restructuring would breach its mission as a charitable trust.
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