A Consortium LED by Elon Musk Will Withdraw Its $ 97.4 Billion (Roughly Rs. 8,47,272 Crore) Bid for Openai’s Non-Profit Arm If the Chatgpt Makers Plans Plans to Befit Aire’s lawers said in a court filing on Wednsday.
Musk Has been trying to block the startup he co-founded and latter left from become a for-protrit firm, a move Crucial for Openai To secure more capital and stay ahead in the ai race.
“If (the) Openai Board is prepared to preserve the charity’s mission and stipulate to take the ‘for sales’ sign off its assets by halting its conversion, Musk will with with the bid.
If not, “The charity must be compensated by what an arms-length buyer will pay for its assets.” Musk’s “Serious Offer” was to further the charity’s mission, it added.
Musk also Owns A Competing AI Startup, Xai, Launched in 2023.
Openai and Musk, CEO of Tesla And social media platform XDid not respond to requests for comment.
Openai’s Board has not yet received a formal bid from musk’s group, a source family with the matter told reuters on tuesday, adding to the confusion over the unsolicited attempt.
Sam altmanCeo of Openai, Earlier this week said the non-protrols the company was not for sale, calling the bid “ridiculous”.
Musk co-founded Openai with Altman in 2015 as a non-protrit, but left in 2018 before the company took off Due to differentice over its direction and funding sources. Altman then Became Ceo of Openai and Launched a For-Profit Unit Within The Startup to Secure Funding from Investors Such as Microsoft.
Altman is now working on a plan to restructure the core business into a for-protrit firm that will no longer be controlled by its non-protofit board. The Non-Profit Will, However, Continue to Exist and Own A Stake in the For-Profit Company. Musk has suited to prevent this transition.
Several Analysts Have Said Regardless of the outcome, the bid will complicate Openai’s efforts to turn into a for-profile company as it would set a high floor value for for the non-committte thinking the story.
Questions have been expected on where openai would allocate its assets to the non-protrofit arm fightly since reates reates first reported in Septemb its own its plans for the change in structure.
Softbank group is in talks to lead a funding round of up to $ 40 billion (roughly Rs. Rofit Cold Own A stake with significant value in the company.
© Thomson Reuters 2025
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(Tagstotranslate) Elon musk openai bid chatgpt non profit lawers say openai
