A jury in California has ruled against Elon Musk in his high-profile lawsuit against OpenAI and Sam Altman, handing the artificial intelligence company a significant victory on the eve of plans for a potential IPO.
IPO (Initial Public Offering) is the moment when a company goes public for the first time and sells shares to public investors, becoming a company listed on the financial markets.
According to international reports, the jury concluded that the lawsuit filed by Musk was filed outside the legal deadline, dismissing the billionaire's claims of "betrayal" and breach of trust by the former co-founders of OpenAI.
Musk had accused OpenAI of straying from its original non-profit mission and becoming a for-profit company through its close partnership with Microsoft. He claimed that the project's original vision had been "stolen" and used for commercial interests.
However, the jury found that the alleged damages related to events that occurred before 2021, making the case legally invalid due to the expiration of the statute of limitations.
The decision is considered a major victory for OpenAI, as it removes a significant financial and legal threat at a time when the company is preparing for further expansion and potentially going public.
OpenAI's lawyers described the lawsuit as an attempt to harm a growing rival, while Musk's legal team has signaled it will appeal the decision.
