Explore Business Standard
After prevailing in its court fight with Elon Musk, OpenAI - the ChatGPT maker valued at $852 billion - remains on track for what could be one of the largest initial public offerings in history. Musk had been seeking the ouster of his fellow OpenAI co-founder, CEO Sam Altman, among other changes to the company. But with testimony from witnesses who called Altman dishonest, he's hardly emerged unscathed. At a time of growing concern about artificial intelligence's impacts, the landmark trial also shed new light on the flaws and outsize ambitions of the small number of billionaires steering the development of the breakthrough technology. The trial was a reminder, said Sarah Kreps, director of Cornell University's Tech Policy Institute, "of how much the future of AI still depends on a remarkably small group of powerful tech figures and their personal rivalries". "The trial highlighted not just a dispute between Musk and Altman, but a broader disconnect between the people building thes
A federal court on Monday dismissed claims filed against OpenAI and its top executives by Elon Musk, who accused them of betraying a shared vision for it to remain a nonprofit dedicated to guiding artificial intelligence's development for the good of humanity. Musk, the world's richest man, was a co-founder of OpenAI, which launched in 2015 and went on to create ChatGPT. After investing $38 million in its first years, Musk accused OpenAI CEO Sam Altman and his top deputy of shifting into a moneymaking mode behind his back. The nine-person jury found that Musk waited too long to file his lawsuit and missed the deadline for the statute of limitations. The jury had deliberated only two hours. The jury served in an advisory role, but Judge Yvonne Gonzalez Rogers accepted the verdict Monday as the court's own and dismissed Musk's claims. The three-week trial in Oakland, California shed light on the bitter falling-out between the two Silicon Valley titans and the beginnings of OpenAI, no
Greg Brockman, OpenAI's president and CEO Sam Altman's top lieutenant, disclosed in court Monday that his stake in the artificial intelligence company is worth nearly USD 30 billion. Brockman, who also said he did not personally invest any money in OpenAI, was testifying Monday in the trial that centres on the company's 2015 founding as a nonprofit startup primarily funded by Elon Musk before evolving into a capitalistic venture now valued at USD 852 billion. Brockman's disclosure would put him on the Forbes list of the world's richest people, with wealth comparable to Melinda French Gates. The civil lawsuit accuses Altman and Brockman of double-crossing Musk by straying from the San Francisco company's founding mission to be an altruistic steward of a revolutionary technology. The lawsuit alleges they shifted into a moneymaking mode behind Musk's back. Late Sunday, OpenAI lawyers tried to admit as evidence a text message Musk sent to Brockman two days before the trial began. ...