Musk says he’ll pull his $97.4 billion OpenAI bid if the ChatGPT maker remains a nonprofit

Table of Contents

if it agrees to "preserve its mission" and remain a non-profit organisation.

The maker agreed to "take the 'for sale' sign off."

founder Sam Altman.

“If OpenAI Inc’s Board is willing to keep the charity’s mission intact and remove the ‘for sale’ sign from its assets by putting its conversion on hold, Musk will pull out of the bid,” the court filing said. “Otherwise, the charity will need to be compensated for its assets at what an independent buyer would pay for them.”

OpenAI is run by a non-profit board that's stuck to its original goal of creating safer, more advanced AI that's better than human capabilities for the public's good. Last year, after the business grew really quickly, it announced plans to officially change its business structure.

Private company xAI, which recently secured $6 billion in new investment funds from investors.

The company's statement on the AI summit is that it's not for sale.

He and Musk have been at odds for a while now over OpenAI, which they co-founded in 2015.

Since the operation's start, the pair have been driven apart by disagreements over a few things, including whether OpenAI should be run to make a profit. Musk resigned from its board in 2018.

Altmann previously said that Musk was an "unhappy" person who is driven by "insecurity". After Musk announced his bid for OpenAI, Altmann joked he would instead buy x.com for $9.74 billion, a tenth of the price.

Since then, the two have exchanged insults online, with Mr Musk referring to the OpenAI boss as "Scam Altman."

The Australian Press Association contributed to this report.

Aussies who are independent thinkers are individuals with their own unique perspectives. They're not defined by what you'd normally expect, like age, background or location, but by the way they think. In today's world, where people are becoming more divided, communities rely on a news brand that gives it to them straight, no sugarcoating, and is free from bias. With access to the real facts and honest opinions, independent Aussies are empowered to stand up for what they believe in.