Elon Musk Will Withdraw Bid for OpenAI’s Nonprofit if Its Board Agrees to Terms
Elon Musk offers to withdraw his $97.4B OpenAI bid if the board halts its for-profit conversion and preserves its mission.
Matilda
Elon Musk Will Withdraw Bid for OpenAI’s Nonprofit if Its Board Agrees to Terms
The ongoing saga surrounding OpenAI and Elon Musk has taken another dramatic turn. In a recent court filing, Musk's legal team has indicated that the billionaire will withdraw his staggering $97.4 billion bid for OpenAI's nonprofit arm, but with a significant condition. Musk's lawyers stated that this withdrawal is contingent upon the OpenAI board agreeing to "preserve the charity's mission" and ceasing its controversial transition to a for-profit entity. This development, revealed in a filing submitted to the U.S. District Court for the Northern District of California, underscores the intense battle for control and direction within the rapidly evolving landscape of artificial intelligence. Musk's lawyers assert that his offer to acquire OpenAI's nonprofit is genuine and that the nonprofit deserves fair compensation for its assets, akin to what an independent buyer would offer. "Should […] the charity’s assets proceed to sale, a Musk-led consorti…