Musk’s consortium, which includes VCs like Joe Lonsdale’s 8VC and SpaceX investor Vy Capital, is offering exactly $97.375 billion to buy out OpenAI, and says in the letter 100% of the purchase price “would be paid in cash.”

Elon Musk says he is prepared to drop his attempt to buy OpenAI if the ChatGPT maker maintains its current structure.

OpenAI’s board has turned down Elon Musk’s $97.4 billion offer to buy the company’s assets.The rejection, which was delivered in a letter to the billionaire’s lawyer Friday, said the board decided the bid was “not in the best interests” of OpenAI’s mission.

Musk and OpenAI Chief Executive Officer Sam Altman have a long-standing feud that culminated in a lawsuit that Musk filed against the AI company in August.

Trump insider Musk adds unsolicited bid to pending lawsuit, social media trolling of OpenAI, a company he helped launch in 2015

OpenAI's board has unanimously rejected Elon Musk's $97.4 billion takeover offer, with chairman Bret Taylor calling it an "attempt to disrupt his competition." Why it matters: This was expected, given that OpenAI CEO Sam Altman had previously said the company isn't for sale,

OpenAI's board rejected a $97.4-billion bid by an Elon Musk-led investment group to buy the San Francisco startup. OpenAI's board chair said the company is not for sale.

A recent report revealed that a consortium led by Elon Musk had placed a $97.4 billion bid on OpenAI. According to OpenAI’s CEO Sam Altman, it seems that the company has no intention of entertaining the bid.