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.”

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.

This maxim guides potentially trillions of dollars of capital, investor glee and pain, and the clout of OpenAI boss Sam Altman and his nemesis Elon Musk. Their years-long feud cranked up on Monday, when the Tesla (TSLA.