Musk will withdraw his nearly $100 billion offer for OpenAI – only if one condition is not met

Elon Musk said he would withdraw his offer to buy OpenAI if the artificial intelligence leader remained a non-profit organization.

The statement, made in court documents on Wednesday, is the latest clash between Musk, the world's richest man, and OpenAI founder Sam Altman.

“If the board of OpenAI Inc. is willing to preserve the charitable mission and remove the ‘for sale’ sign from its assets by stopping the conversion, Musk will withdraw the offer,” the court document said on Wednesday.

"Otherwise, the charity should be compensated with the amount an outside buyer would pay for its assets," he added.

On Monday, Musk and his group of investors offered $97.4 billion for OpenAI, the world's leading artificial intelligence company, writes cnn.

Altman has so far rejected Musk's offer, accusing him of being more interested in "slowing down a competitor" than in acquiring OpenAI. The company started as a non-profit in 2015 and converted to a "limited profit" model in 2019.

On the other hand, Musk has expressed opposition to OpenAI's departure from its initial non-profit status.

While Musk provided some of the initial funding for OpenAI, Altman said in December that the organization began to transition to a limited-profit model because the Tesla and SpaceX founder stopped financial contributions.

He told CNBC that this status would make OpenAI more attractive to investors. /Telegraph/