Elon Musk will drop his $97.4 billion bid to take over OpenAI if its board of directors stops the company’s conversion into a for-profit entity, a report said.

Open AI CEO Sam Altman rejects rival co-founder Elon Musk's $97.4 billion takeover bid. Here's what to know about OpenAI and what is ChatGPT

OpenAI Chief Executive Officer Sam Altman rebuffed Elon Musk’s $97.4 billion offer to take control of the artificial-intelligence startup for the second time in less than a day, accusing the world’s richest man of making the bid just to gain a competitive advantage.

Musk said the action of "deleting" entire agencies is necessary to prevent future administrations from rehiring what he believes are unnecessary roles.

That’s included sidelining career officials, gaining access to sensitive databases and inviting a constitutional clash over the limits of presidential authority.

Elon Musk has long railed against the U.S. government, saying a crushing number of federal probes and safety programs have stymied Tesla, his electric car company, and its efforts to create fleets of robotaxis and other self-driving automobiles.