At the start of the week, Elon Musk led a group of investors in a $97.4 billion bid to acquire the nonprofit that controls OpenAI, the creator of ChatGPT. However, Musk’s attorney now says the billionaire will withdraw the offer if OpenAI halts its transition from a nonprofit to a for-profit entity.
“If OpenAI, Inc.’s Board is prepared to preserve the charity’s mission and stipulate to take them for sale’ sign off its assets by halting its conversion, Musk will withdraw the bid,” Musk’s lawyers wrote in a court filing on Wednesday. The Wall Street Journal first reported this.
If not, “the charity must be compensated by what an arms-length buyer will pay for its assets,” the filing said, adding that Musk’s very “serious offer” was to further the charity’s mission.
Following the unsolicited offer by Musk’s investor group, OpenAI CEO Sam Altman wrote on X: “No thank you, but we will buy Twitter for $9.74 billion if you want.”
Musk responded by calling Altman a “Swindler.” […]
— Read More: www.zerohedge.com
