Elon Musk will pull OpenAI bid if ChatGPT maker remains non-profit, lawyers say

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A consortium led by Elon Musk will withdraw its $97.4 billion bid for OpenAI’s non-profit arm if the ChatGPT maker drops plans to become a for-profit entity, the billionaire’s lawyers said in a court filing on Wednesday.

Musk has been trying to block the startup he co-founded and later left from becoming a for-profit 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 sale’ sign off its assets by halting its conversion,…



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Elon Musk will pull OpenAI bid if ChatGPT maker remains non-profit, lawyers say


A consortium led by Elon Musk will withdraw its $97.4 billion bid for OpenAI’s non-profit arm if the ChatGPT maker drops plans to become a for-profit entity, the billionaire’s lawyers said in a court filing on Wednesday.

Musk has been trying to block the startup he co-founded and later left from becoming a for-profit 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 sale’ sign off its assets by halting its conversion,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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