Bret Taylor, the chairman of OpenAI’s board, said the artificial intelligence company was “not for sale.” Mr. Musk is separately raising money for his A.I. start-up, xAI.

Elon Musk has agreed to withdraw his bid for OpenAI, but only if the company changes its intentions to become for-profit.

Elon Musk and a consortium of investors have made an unsolicited bid of $97.4 billion for a controlling interest in the non-profit that operates OpenAI, according to a new report from the Wall Street Journal.