RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Elon Musk Withdraws Lawsuit Against OpenAI and Sam Altman

Bolarinwa Mathew by Bolarinwa Mathew
June 12, 2024
in Business, company news, Tech News
Reading Time: 2 mins read
A A
0
Elon Musk Withdraws Lawsuit Against OpenAI and Sam Altman
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Elon Musk has decided to withdraw his lawsuit against OpenAI and its co-founders, Sam Altman and Greg Brockman. This decision was made public on Tuesday and marks the end of the legal battle that had been set to proceed in California state court.

A crucial hearing had been scheduled for Wednesday in San Francisco, where the judge was expected to consider a motion to dismiss the case filed by the defendants, including Altman and Brockman, who currently serve as OpenAI’s CEO and president, respectively.

AlsoRead

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

Dangote’s Fortune Could Climb by About $23 Billion as Refinery IPO Opens

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

The lawsuit, initially filed by Musk in February, accused OpenAI and its leaders of breach of contract and fiduciary duty. However, the case’s foundation was seen as questionable by legal experts, as the contract in question was not a formal written agreement signed by all parties involved.

Musk’s legal complaint revolved around the transformation of OpenAI from a non-profit research organization aimed at developing artificial general intelligence (AGI) for the benefit of humanity, into a for-profit entity with significant control held by Microsoft, its principal shareholder.

Despite the dismissal, which was filed without prejudice, Musk’s grievances highlighted his role in the creation of OpenAI, which has since become a leading name in artificial intelligence, particularly following the success of its ChatGPT platform. OpenAI topped CNBC’s Disruptor 50 list in 2023, driven by the widespread popularity of ChatGPT.

Legal experts had previously commented on the lawsuit, suggesting it served more as a publicity tool for Musk rather than a solid legal challenge. Kevin O’Brien, a partner at Ford O’Brien Landy LLP and a former assistant U.S. attorney, noted that while the suit brought attention to Musk’s contributions to AI development, its legal basis was less clear.

In parallel to the legal proceedings, Musk has been advancing his own AI initiatives through his startup, xAI. The company, which aims to “understand the true nature of the universe,” recently secured $6 billion in Series B funding from notable investors including Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research Company.

Last year, xAI introduced Grok, a chatbot inspired by “The Hitchhiker’s Guide to the Galaxy.” Grok was launched with two months of training and claims to possess real-time internet knowledge.

Representatives for Musk and Altman were not immediately available for comment on the withdrawal of the lawsuit.

Tags: #OpenAIElon MuskGreg BrockmanSam Altman
Previous Post

VAT Collection Rises by 19.21% to N1.43 Trillion in Q1, Reports NBS

Next Post

Nigeria’s Crude Oil Production Falls to 1.25 Million BPD in May – OPEC Report

Related News

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

by Jide Omodele
September 17, 2026
0

The Nigerian Exchange recorded turnover of 662.35 million shares on Wednesday, 16 September 2026, as investors kept up strong activity...

Dangote Group Repatriates Over $687.98 Million to Nigeria

Dangote’s Fortune Could Climb by About $23 Billion as Refinery IPO Opens

by Victoria Attah
September 14, 2026
0

Aliko Dangote, Africa’s richest man, is set for a potential increase of roughly $23 billion in his personal wealth as...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

by Victoria Attah
September 8, 2026
0

Nigeria’s merchandise trade surplus more than doubled to N12.60 trillion in the second quarter of 2026, driven by stronger exports...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

by Jide Omodele
August 17, 2026
0

The Nigerian Exchange has postponed the introduction of its revised pricing methodology for equities trading, one day before the new...

Next Post
NMDPRA inaugurates oil and gas industry service permit portal.

Nigeria's Crude Oil Production Falls to 1.25 Million BPD in May – OPEC Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Leading Banks Struggle with Capital Deficits: Zenith Bank and Others Strive to Meet CBN Standards

Banking System Liquidity Falls N3.86 Trillion as CBN Open Market Operation Drains Cash

September 22, 2026
Naira depreciates to N755/$ in the parallel market.

Foreign Exchange Supply Rises 20.5% to $8.94 Billion in 2025, CBN Data Show

September 22, 2026

Popular Story

  • Dollar Index Loses Steam as Treasury Yields Drift Back to 4.8%

    Naira Strengthens to N1,329.80 per Dollar Officially and N1,390 on Parallel Market

    0 shares
    Share 0 Tweet 0
  • Banking System Liquidity Falls N3.86 Trillion as CBN Open Market Operation Drains Cash

    0 shares
    Share 0 Tweet 0
  • Dangote Lowers Petrol Price to N1,325 a Litre Nine Days After N85 Increase

    0 shares
    Share 0 Tweet 0
  • Foreign Exchange Supply Rises 20.5% to $8.94 Billion in 2025, CBN Data Show

    0 shares
    Share 0 Tweet 0
  • Foreign Exchange Turnover Falls 30.23% as Spot and Derivatives Activity Decline

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>