Musk Will Rescind Bid for OpenAI If It Remains a Nonprofit

Elon Musk is angling to buy OpenAI, the parent company of ChatGTP, if it becomes a for-profit entity.

Tesla and SpaceX CEO Elon Musk in Washington on Jan. 20, 2025. Chip Somodevilla/Pool/Reuters

Billionaire Elon Musk will rescind his bid for OpenAI, the maker of artificial intelligence chatbot ChatGPT, if the entity remains a nonprofit, according to a new court filing.

Musk and other investors recently offered $97.4 billion for OpenAI. The group said it wanted to keep the entity a nonprofit, operating for the public good.