Elon Musk plans to withdraw his $97.4 billion bid to purchase OpenAI’s assets if the company’s plan to spin out its for-profit subsidiary fails, according to a new court filing. The move comes as part of a long-running legal battle between Musk and OpenAI CEO Sam Altman.
Musk and Altman co-founded OpenAI in 2015, but their differing visions have led to a heated dispute over the company’s future. Altman wants to spin out a for-profit entity from OpenAI’s nonprofit research lab, while Musk prefers the organization focus on its original goals.
The value of this stake is at the heart of the conflict. If Musk succeeds in putting a higher price tag on the assets underlying the for-profit entity’s value, it will be harder for Altman to execute his plan. Musk has stated that he wants OpenAI to refocus on its nonprofit objectives, while Altman argues that the company needs investment from investors to achieve its mission.
In a recent statement, OpenAI CEO Sam Altman confirmed that the company is not for sale and made it clear that Musk’s bid was an attempt to foil his plan. The dispute highlights the challenges of balancing profit and non-profit goals in the AI industry.
Source: https://www.axios.com/2025/02/13/musk-altman-openai-nonprofit-filing