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.”

OpenAI's lawyer, William Savitt, emphasized that the proposed takeover bid "is not in the best interests of OAI's mission.

Elon Musk said he'll withdraw his $97.4 billion bid to buy OpenAI if the ChatGPT maker stops trying to become a for-profit company.