Elon Musk and a group of investors offered more than $97 billion to buy the nonprofit that controls the artificial intelligence giant OpenAI, the company behind ChatGPT, on Monday. The bid, first reported by The Wall Street Journal,

In a dramatic escalation of Silicon Valley’s most heated AI rivalry, Elon Musk just announced that he’s leading a $97.4 billion bid to buy OpenAI’s nonprofit arm, according to The Wall Street Journal. The bid was reportedly delivered to the board Monday morning.

The OpenAI CEO quickly rejected the deal on Musk’s X platform, saying, “no thank you but we will buy Twitter for $9.74 billion if you want.”