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

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

Petrol Price Climbs to N1,596 per Litre in May, Edo Leads States

Liquidity Surge in Nigeria’s Financial System Raises Questions as CBN Maintains Tight Policy

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

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

Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

by Stephen Akudike
June 29, 2026
0

Nigeria’s exports to the United States declined sharply by N365.64 billion in the first quarter of 2026, even as imports...

Petrol Price Climbs to N1,596 per Litre in May, Edo Leads States

by Victoria Attah
June 25, 2026
0

Nigerians paid an average of N1,596.25 per litre for petrol in May 2026, according to the latest report from the...

NEC Affirms CBN $3 Billion Loan for Naira Stability

Liquidity Surge in Nigeria’s Financial System Raises Questions as CBN Maintains Tight Policy

by Jide Omodele
June 23, 2026
0

Nigeria’s broad money supply (M3) expanded significantly to N129.21 trillion in May 2026, highlighting continued liquidity growth in the economy...

South Africa Poised to Surpass Nigeria as Africa’s Largest Economy

Private Sector Credit Expands to N81.04 Trillion in May Despite Tight Monetary Policy

by Victoria Attah
June 23, 2026
0

Nigeria’s private sector credit grew to a new high of N81.04 trillion in May 2026, according to the latest data...

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

FG 2053 Bond Records $364 million Subscription as Investors Seek Record Yields

DMO Plans N4 Trillion FGN Bond Issuance for Third Quarter of 2026

June 30, 2026
FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties

Nigeria Records N366bn Drop in Exports to US as Imports Surge in Q1 2026

June 30, 2026

Popular Story

  • Forex Market Activity Surges as Naira Records Modest Weakening

    0 shares
    Share 0 Tweet 0
  • Naira Holds Firm at N1,380/$ as FX Inflows Reach One-Year High

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Exports to US Drop by N366bn in Q1 as Imports from America Surge

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  •  Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

    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}
?>