FILE - The OpenAI logo appears on a mobile phone in front of a computer screen with random binary data, March 9, 2023, in Boston. (AP Photo/Michael Dwyer, File)
MDElon 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.聽
鈥淚f OpenAI, Inc.鈥檚 Board is prepared to preserve the charity鈥檚 mission and stipulate to take the 鈥榝or sale鈥 sign off its assets by halting its conversion, Musk will withdraw the bid,鈥 lawyers for the billionaire said in a filing to a California court on Wednesday.聽
鈥淥therwise, the charity must be compensated by what an arms-length buyer will pay for its assets.鈥澛
Musk and a group of investors earlier this week, in the latest twist to a dispute with the artificial intelligence company that he helped found a decade ago.
OpenAI is controlled by a nonprofit board bound to its original mission of safely building better-than-human AI for public benefit. Now a fast-growing business, it unveiled plans last year to formally change its corporate structure.
Musk and his own AI startup, xAI, and a consortium of investment firms want to acquire the nonprofit鈥檚 controlling stake in the for-profit OpenAI subsidiary.
OpenAI CEO Sam Altman quickly rejected the unsolicited bid in a post on social media and at a on AI that the company is . The chair of OpenAI's board, Bret Taylor, echoed those remarks at an event Wednesday.
Musk and Altman helped start OpenAI in 2015 and later competed over who should lead it before Musk resigned from the board in 2018. They've been in a over the startup.
Musk again criticized Altman's management on Thursday to the World Governments Summit in Dubai, United Arab Emirates, describing it as akin to a nonprofit aimed at saving the Amazon rainforest becoming a 鈥渓umber company that chops down the trees.鈥 Altman has repeatedly countered that Musk's legal challenges to OpenAI are motivated by his role as a competitor.聽
Musk has asked a California federal judge to block OpenAI's for-profit conversion on allegations ranging from breach of contract to antitrust violations. The judge has expressed skepticism about some of Musk's arguments but hasn't yet issued a ruling.聽
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