(CNN)– Elon Musk is leading a group of investors in an offer to buy Chat GPT’s parent company. The high stakes bid to buy “Open AI” is for nearly $98 billion. The offer follows multiple legal complaints filed by Musk against the company and its CEO.

OpenAI CEO Sam Altman has soundly dismissed a $97.4 billion takeover bid backed by rival Elon Musk, but the unsolicited offer is likely to add complications to Altman’s push to transform the maker of ChatGPT into a for-profit company.

Elon Musk co-founded the ChatGPT maker with Sam Altman in 2015 - but relations between the pair have soured and they are already locked in a legal battle over OpenAI.

Elon Musk has made a $97.4 billion bid to acquire OpenAI's nonprofit arm, provoking a response from CEO Sam Altman who countered with an offer to buy

A group of investors led by Elon Musk says it is offering $97.4 billion to buy OpenAI, escalating a legal dispute with the artificial intelligence company that Musk helped found.

The billionaire's attorney, Marc Toberoff, confirmed he submitted the bid for "all assets" of the company on Monday.

The latest development marks Musk's latest challenge to OpenAI, an organisation he helped establish nearly a decade ago.

Elon Musk has offered $97 billion (£78.3 billion) to buy ChatGPT creator OpenAI - just months after suing the start-up he helped found.

In a high-stakes bid that could reshape the future of artificial intelligence, Elon Musk is leading a group of investors that have offered to buy OpenAI, the parent company of ChatGPT, for $97.4 billion.