Jury Dismisses Musk Suit, Clears Path Toward IPO

•5mo ago

Jury Dismisses Musk Suit, Clears Path Toward IPO

Tap title to read story

0:00 / 1:03

Oakland, California. A federal jury on Monday, May 18, ruled unanimously that Elon Musk's lawsuit against OpenAI was time-barred under the statute of limitations, dismissing his claims after less than two hours of deliberation. Jurors concluded Musk had brought the case too late. The trial was widely viewed as a critical moment for OpenAI and for the broader debate over how artificial intelligence should be used and who should benefit.

Oakland, California. The verdict clears a major legal hurdle for OpenAI's commercial trajectory and simplifies the path toward a possible initial public offering that could value the company at about US$1 trillion, but it also leaves Chief Executive Sam Altman facing reputational challenges after testimony in which multiple witnesses described him as a liar. US District Judge Yvonne Gonzalez Rogers said Musk may face an uphill battle on appeal and that there was substantial evidence supporting the jury's finding.

Published 2026-05-18 21:41:25 UTC · Published by JQJO

Published by JQJO Editorial Desk · AI assisted

More context

Timeline

1. 2015: OpenAI founded as a non-profit with early funding from Elon Musk.
2. 2018: Elon Musk departed OpenAI amid changes in the organisation's structure.
3. 2019–2023: OpenAI attached a commercial arm and raised capital including from Microsoft (reported in trial context).
4. 2024 February: Musk filed a lawsuit against OpenAI, Sam Altman, and Greg Brockman alleging mission abandonment.
5. 2026 May 18: A federal jury in Oakland unanimously ruled Musk's suit time-barred, and the judge indicated she would accept the jury's findings.

Why it matters

OpenAI's potential IPO could change the AI landscape. If you're an investor, it's a company to watch. If you're concerned about AI ethics, it's a debate to follow. Check the latest news on OpenAI's plans.

Sources

JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.

Editorial policy and corrections · Our team

On October twenty‑second, 2026, U.S. stocks fell, with the Nasdaq dropping two‑point‑sixty‑eight percent, the steepest decline since early June. The tech‑heavy index was weighed down by microchip earnings and fresh concerns about the AI spending race. Meta Platforms reported a cash outflow for AI, causing its shares to slide seven‑point‑five percent. Tesla cut its 2026 capital‑spending plans, sending its shares down two‑point‑one percent. The Philadelphia Semiconductor Index fell six‑point‑three percent, its largest daily drop since June twenty‑third, while crude prices hit a five‑month high amid Middle East tensions. Investors questioned the sustainability of AI investment amid political backlash and potential regulatory restrictions.

Amazon Prime Video has renewed the "Carrie" series for a second season, extending the story beyond the events of Stephen King’s 1974 novel. The show follows high‑schooler Carrie White, played by Summer H. Howell, as she navigates bullying, social‑media pressure, and emerging telekinetic powers. Mike Flanagan serves as showrunner and executive producer alongside King. The renewal signals confidence in the series’ appeal to both longtime King fans and a new generation of viewers.

Developers of PHP announced critical vulnerabilities, prompting worldwide site outages. The UK government took precautionary measures, disabling thirty‑two services and partially disabling four others. No successful hacks have been reported, but experts warn that impacts may surface over months. The National Cyber Security Centre described the event as unprecedented, noting no indications of breaches. Government officials confirmed ongoing work to patch systems and collaborate with international partners.