An investor consortium led by the world’s richest man, Elon Musk, is attempting to acquire the nonprofit organization that owns OpenAI, the company behind ChatGPT.
The bid from Musk and his fellow investors is reportedly worth $97.8 billion.
According to Musk’s attorney, Marc Toberoff, the offer was presented to OpenAI’s board on Monday. This marks the latest chapter in one of the tech industry’s most high-profile feuds.
Musk and OpenAI CEO Sam Altman have long been at odds. The two co-founded the company in 2015, but Musk left three years later.
Last year, Musk filed a lawsuit against OpenAI, accusing the company of abandoning its original nonprofit mission in favor of prioritizing profits and commercial interests.
“It is time for OpenAI to return to the openness and safety-focused force for good it once was. We will ensure that happens,” Musk said in a statement.
In 2019, Altman and OpenAI established a commercial subsidiary to raise capital from Microsoft and other investors.
Altman is now working to restructure the subsidiary into a traditional for-profit company, with plans to spin off the nonprofit organization, which would retain a stake in the new commercial entity.