Tags: Elon Musk lawsuit

OpenAI, the creator of ChatGPT, is gearing up for an initial public offering within days or weeks, according to a Wall Street Journal report. The AI firm has enlisted Goldman Sachs and Morgan Stanley to draft filing paperwork that could be submitted as early as Friday, with a possible market debut as soon as September. The move follows the dismissal of Elon Musk’s lawsuit against CEO Sam Altman and reflects the company’s desire to raise capital for the massive compute power needed to train next‑generation models. Investors will watch closely to see whether revenue growth can keep pace with OpenAI’s soaring expenses. Lire la suite

OpenAI is reportedly preparing to file for an initial public offering as soon as September, according to insiders cited by The New York Times. The company has been consulting Goldman Sachs and Morgan Stanley while monitoring market conditions. A spokesperson said the firm routinely evaluates strategic options, but offered no timeline. Valued at roughly $730 billion, OpenAI would join rivals SpaceX and Anthropic, which are also pursuing public listings. The move follows a recent court victory that dismissed Elon Musk’s lawsuit against the for‑profit arm of the AI firm. Lire la suite

OpenAI, fresh from a $122 billion funding round and an anticipated IPO, is grappling with a cascade of executive departures, halted projects and mounting legal pressure. The AI lab’s recent Pentagon contract, the abrupt cancellation of its video‑generation app Sora, and a looming lawsuit from co‑founder Elon Musk have sparked questions about the company’s stability and its path to profitability. Lire la suite

OpenAI’s board removed CEO Sam Altman in 2023 after concluding he was not consistently candid with them. A deposition by co‑founder Ilya Sutskever, part of Elon Musk’s lawsuit, detailed accusations that Altman pitted senior executives against each other, offered conflicting information, and pursued merger talks with Anthropic. Sutskever presented memos documenting these concerns, citing examples of alleged manipulation, a toxic workplace, and potential conflicts of interest. The fallout saw several top executives depart and the board undergo significant changes, underscoring a dramatic leadership crisis at the AI leader. Lire la suite

OpenAI announced a nonbinding memorandum of understanding with Microsoft that would allow the AI startup to convert its for‑profit arm into a public benefit corporation. The deal keeps OpenAI’s nonprofit board in control while granting Microsoft preferred access to the technology and primary cloud services. The agreement follows months of negotiation, legal disputes, and competing partnership offers, including a cloud contract with Oracle and a data‑center collaboration with SoftBank. Regulators in California and Delaware must still approve the transition, and the arrangement remains subject to a definitive contract. Lire la suite