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.”

According to a report in The Wall Street Journal, a consortium of investors led by Elon Musk is offering to buy the nonprofit that controls

Sam Altman is leaving no room for doubt about his views on an Elon Musk-led bid to take control of OpenAI. In a letter to OpenAI staff Monday, the CEO put the words “bid” and “deal” in scare quotes and said the startup’s board has no interest in the offer.

In a court filing, Mr. Musk said he and other investors would pull their $97.4 billion bid if OpenAI withdrew its plan to change its structure.

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.

In a court filing on Wednesday, the company said Mr. Musk’s bid contradicted legal claims the billionaire made in a lawsuit he brought against OpenAI last year. OpenAI argued in its filing that Mr. Musk said in his lawsuit the assets must remain with the nonprofit and could not be transferred to another entity for public gain.