Billionaire Elon Musk will rescind his bid for OpenAI, the maker of artificial intelligence chatbot ChatGPT, if the entity remains a nonprofit, according to a new court filing.
Musk and other investors recently offered $97.4 billion for OpenAI. The group said it wanted to keep the entity a nonprofit, operating for the public good.
“If OpenAI, Inc.’s Board is prepared to preserve the charity’s mission and stipulate to take the ‘for sale’ sign off its assets by halting its conversion, Musk will withdraw the bid,” Musk’s lawyers wrote in the Feb. 12 filing.
“Otherwise, the charity must be compensated by what an arms-length buyer will pay for its assets.”…