Elon Musk will withdraw his $97.4 billion bid for OpenAI's non-profit arm if the ChatGPT maker does not become a for-profit entity, Musk's lawyers said. If not, "the charity must be compensated by what an arm's-length buyer will pay for its assets," Musk's lawyers said. His lawyers also said the offer, already rejected by OpenAI CEO Sam Altman, was "serious".