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Elon Musk sends 'final letter' to OpenAI
The world's richest man has asserted that he will withdraw the offer to acquire OpenAI for nearly $100 billion if the company's leadership stops the transformation process into a for-profit company. In the filing sent to the court on 13/2, Elon Musk's lawyers stated that the offer to buy OpenAI, the parent company of ChatGPT, for $97.4 billion would be canceled if the board stops the conversion process to a for-profit company. "Elon Musk will withdraw the offer if the OpenAI board is willing to preserve the charitable mission and commit to remove the 'for sale' sign from the organization's assets by halting the conversion process," Elon Musk's lawyers said. Previously, a group of investors led by Elon Musk proposed to acquire OpenAI, the parent company of ChatGPT, for $97.4 billion, according to WSJ. This unexpected move disrupts the plan to transform OpenAI into a company for Altman's profit, including a $500 billion joint venture project called "Stargate" to invest in AI infrastructure. Currently, Altman and Musk are facing off on both legal and developmental fronts of OpenAI. After Musk's proposal, Sam Altman and chairman Bret Taylor said they had no intention of selling the organization. In a court filing on 12/2, OpenAI asserted that Musk's proposal, supported by private investment funds and venture companies, showed efforts to force the company to maintain a non-profit status were not sincere. “Musk will request OpenAI to transfer all assets, for his personal economic benefit and for the competitive AI business of his and those of the private investors he chooses,” OpenAI's lawyer wrote in court documents. Musk and Altman co-founded OpenAI in 2015 as a non-profit organization. However, after Musk left the company in 2019 and Altman became CEO, OpenAI established a for-profit subsidiary to raise funds from Microsoft and other investors. Altman is in the process of transforming this subsidiary into an independent company and separating a non-profit organization, which will own shares in the new company.