Elon Musk has stated that he will retract a $97 billion offer to purchase the nonprofit organization behind Openai if the makers of ChatGpt agree to abandon plans to convert them into for-profit entities.
“If the board of Openai, Inc is willing to uphold its charitable mission and ensure that any “sales” are conducted without conversions, Musk will withdraw his bid,” he stated on Wednesday. “If not, the nonprofit must be compensated based on the amount paid by the prospective buyer for the assets.”
Earlier this week, Musk and a group of investors made their offer, adding a new twist to the ongoing controversy surrounding the artificial intelligence company he co-founded a decade ago.
Openai is currently operated by a nonprofit board dedicated to its original mission of developing AI “safer and more advanced than humans” for the public good. However, as the business grows, it has announced plans to change its corporate structure formally.
Musk, along with his AI startup Xai and a group of investment firms, seeks control over Openai by transforming the nonprofit into a for-profit subsidiary.
Openai CEO Sam Altman swiftly dismissed the unsolicited offers in a social media post, reiterating at AI’s Paris Summit that the company is not for sale. Openai’s board chairman, Bret Taylor, echoed these sentiments at the event on Wednesday.
Musk and Altman were instrumental in launching Openai in 2015, but had disagreements over leadership, leading to Musk stepping down from the board in 2018 only to rejoin in 2024.
During a video call at the World Government Summit in Dubai, Musk criticized Altman once again, comparing Openai to turning the Amazon rainforest into a timber company. Altman countered that Musk’s legal challenges were influenced by his competing startups.
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Musk is currently seeking a California federal judge’s intervention to prevent Openai’s commercial conversions, alleging breach of contract and antitrust violations. While the judge has shown doubt about some of Musk’s arguments, no ruling has been issued yet.
Source: www.theguardian.com
