Musk’s consortium, which includes VCs like Joe Lonsdale’s 8VC and SpaceX investor Vy Capital, is offering exactly $97.375 billion to buy out OpenAI, and says in the letter 100% of the purchase price “would be paid in cash.”

Elon Musk said he'll withdraw his $97.4 billion bid to buy OpenAI if the ChatGPT maker stops trying to become a for-profit company.

In a court filing on Wednesday, the company said Mr. Musk’s bid contradicted legal claims the billionaire made in a lawsuit he brought against OpenAI last year. OpenAI argued in its filing that Mr. Musk said in his lawsuit the assets must remain with the nonprofit and could not be transferred to another entity for public gain.

A lawyer for Elon Musk said the billionaire will withdraw his bid for OpenAI's nonprofit if OpenAI's board of directors agree to terms.

The unsolicited offer has complicated OpenAI CEO Sam Altman’s plans for the ChatGPT maker’s future.

A recent report revealed that a consortium led by Elon Musk had placed a $97.4 billion bid on OpenAI. According to OpenAI’s CEO Sam Altman, it seems that the company has no intention of entertaining the bid.