Elon Musk will withdraw his $97.4 billion bid for Openai nonprofit division if Chatgpt Maker stops converting to a for-profit entity, according to court documents.
“If Openai, Inc.’s board of directors is ready to retain the charity’s mandate and stipulates that the ‘sell’ sign its assets by stopping its conversion, Musk will withdraw the bid,” the document filed on Wednesday, which was filed on Wednesday to the U.S. U.S. District Court in Northern District of California.
It added: “Otherwise, the charity must compensate for the expenses paid by long-term buyers for their assets.”
Musk launched a bid with his artificial intelligence company XAI and an investor alliance to acquire Openai’s nonprofit division for $97.4 billion, accusing the company and its CEO Sam Altman of abandoning its original mission. , to form its original mission of AI in order to form a good development for AI. And pursue profits.
Ultraman rejected the proposal. Tell CNBC This is just Musk’s efforts to “slow down his competitors.”
Openai was originally a nonprofit organization founded in 2015, and later converted to a “profit-limited” model in 2019. Musk helped set up the AI research company, and he said he donated $50 million.
Since leaving the company’s board in 2018, Tesla and SpaceX founders have expressed frustration about Openai’s move toward becoming a for-profit company.
Musk reiterated those concerns on Thursday and spoke to viewers via video links at the World Government Summit in Dubai.
Musk replied that by United Arab Emirates United Al Omar Al Olama asked whether companies like Openai could really expand as nonprofits.
“I think there is evidence that Openai has gone so far while having at least a double profit, nonprofit role. Too far.”
“As a nonprofit, I’ve provided Openai with all the funds for Openai, which is a nonprofit that could have been open source,” Musk continued. “So, you know, I think it’s similar to… …If you find a nonprofit to keep the Amazon rainforest, but… Instead, they become timber companionsy Cut down the trees and sell them as wood. ”
He added that Openai should now change its name to “Maximum Profit AI” or “close for affluent profits.”
CNBC has contacted OpenAI for comment. Ultraman said in December His company decided to move to a capped business structure, partly because Musk stopped funding, while Openai supporters converted to a fully for-profit public welfare company (which could take two years), saying that would better allow Its expansion and expansion and expansion make it more attractive to investors.
When asked about Tuesday, he had previously rejected Musk’s offer on X, which he rejected on X, replied: “Not special.”
