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.

Elon Musk said in a court filing late Wednesday that he would withdraw his $97.4 billion bid to control OpenAI if the company dropped a longstanding effort to change its corporate structure.

Mr. Musk and a consortium of investors had offered on Monday to buy the assets of the nonprofit that controls OpenAI, escalating a yearslong feud between Mr. Musk and OpenAI’s chief executive, Sam Altman, over the future of artificial intelligence. Mr. Altman is in the middle of changing OpenAI’s corporate structure by shifting control of the company from the nonprofit to OpenAI’s investors, including Microsoft.

Two days later, OpenAI’s board of directors questioned the bid’s rationale and accused Mr. Musk of hypocrisy. Within hours, Mr. Musk’s legal team replied with the new court filing saying

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