Elon Musk sues OpenAI; OpenAI's IPO plans may face a major setback

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Mars Finance News, April 28 — According to multiple U.S. media reports, on April 27 local time, the opening statements in Elon Musk’s lawsuit against OpenAI are set to begin. According to people familiar with the matter, Musk is seeking $150 billion—about 1.02 trillion RMB—in damages from OpenAI and its largest investor, Microsoft, and the proceeds will be allocated to OpenAI’s charitable branch.

It is understood that in the lawsuit, Musk accuses OpenAI CEO Altman and Microsoft of betraying the nonprofit mission to benefit humanity that was announced when OpenAI was founded. He also demands that OpenAI restore its nonprofit status and remove Altman and other executives from their positions. OpenAI’s lawyers countered that Musk’s lawsuit, in essence, is an attempt to take control of OpenAI while promoting his AI company, xAI. OpenAI said that Musk was involved throughout the discussions on the company’s new structure and insisted on becoming CEO.

Analysts point out that this lawsuit comes as OpenAI is sprinting toward its IPO, its initial public offering—a critical stage. OpenAI’s current valuation has reached $852 billion, and it previously planned to go public as early as the fourth quarter of this year. If Musk wins the case, not only could OpenAI’s corporate structure, financing path, and even its listing plans be forced to change, but tech giants that work closely with OpenAI—such as Microsoft, Oracle, NVIDIA, and Amazon—along with the AI industry chain with a total scale exceeding $840 billion, may also face cascading impacts.

( CCTV Finance )

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