Elon Musk ‘will abandon OpenAI offer if for-profit company plans dropped’

OpenAI is the subject of a bid from Elon Musk (Michael Dwyer/PA)

Elon Musk has said he will abandon his 97.4 billion dollar offer to buy the non-profit organisation behind OpenAI if the ChatGPT maker drops its plan to convert into a for-profit company.

“If OpenAI, Inc’s board is prepared to preserve the charity’s mission and stipulate to take the ‘for sale’ sign off its assets by halting its conversion, Musk will withdraw the bid,” lawyers for the billionaire said in a filing to a California court on Wednesday.