Elon Musk’s ability to multitask has got to be one of his superpowers. In the past couple of weeks, he’s been all in on his contentious DOGE cost-cutting campaign for the Trump administration, a task he’s handling in addition to his CEO roles at Tesla and SpaceX. Yesterday came the news, that he’s also leading a consortium bidding $97.4 billion for the OpenAI nonprofit’s assets—essentially the #Artificial Intelligence  firm’s operating business. Whoa.

https://www.wsj.com/tech/elon-musk-openai-bid-4af12827?st=qWok3V&utm_campaign=article_email&utm_content=article-14444&utm_medium=email&utm_source=sg

Exclusive | Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

Artificial Intelligence

Elon Musk’s ability to multitask has got to be one of his superpowers. In the past couple of weeks, he’s been all in on his contentious DOGE cost-cutting campaign for the Trump administration, a task he’s handling in addition to his CEO roles at Tesla and SpaceX. Yesterday came the news, that he’s also leading a consortium bidding $97.4 billion for the OpenAI nonprofit’s assets—essentially the #Artificial Intelligence  firm’s operating business. Whoa.  https://www.wsj.com/tech/elon-musk-openai-bid-4af12827?st=qWok3V&utm_campaign=article_email&utm_content=article-14444&utm_medium=email&utm_source=sg

Tasia

Lawyers for Elon Musk asked the court overseeing his breach of charitable trust lawsuit against OpenAI to throw out the ChatGPT maker’s countersuit, which alleged that Musk had engaged in unfair competition and “tortious interference” by making an unsolicited bid to buy OpenAI and asking state attorneys general to scrutinize OpenAI’s planned conversion to a for-profit company.

https://www.theinformation.com/briefings/musk-asks-court-throw-delay-openais-countersuit?utm_campaign=%5BREBRAND%5D+%5BTI-AM%5D+Th&utm_content=1095&utm_medium=email&utm_source=cio&utm_term=124&rc=gzsl71

Lawyers for Elon Musk asked the court overseeing his breach of charitable trust lawsuit against OpenAI to throw out the ChatGPT maker’s countersuit, which alleged that Musk had engaged in unfair competition and “tortious interference” by making an unsolicited bid to buy OpenAI and asking state attorneys general to scrutinize OpenAI’s planned conversion to a for-profit company.  https://www.theinformation.com/briefings/musk-asks-court-throw-delay-openais-countersuit?utm_campaign=%5BREBRAND%5D+%5BTI-AM%5D+Th&utm_content=1095&utm_medium=email&utm_source=cio&utm_term=124&rc=gzsl71

Lawyers for Elon Musk asked the court overseeing his breach of charitable trust lawsuit against OpenAI to throw out the ChatGPT maker’s countersuit, which alleged that Musk had engaged in unfair competition and “tortious interference” by making an unsolicited bid to buy OpenAI and asking state attorneys general to scrutinize OpenAI’s planned conversion to a for-profit company.    The lawyers for

Musk Asks Court to Throw Out or Delay OpenAI’s Countersuit

Jerome Cody

Elon Musk might have won the battle over OpenAI’s future, but who’s to say Sam Altman isn’t going to win the war? Today’s announcement by the ChatGPT creator that it was abandoning plans to move its for-profit arm out from under control of the nonprofit—conceding to Musk’s legal efforts to stop the restructuring—could end up cementing Altman’s power at OpenAI. After all, OpenAI will remain a company whose controlling shareholder is the nonprofit. So whoever controls the nonprofit controls OpenAI.

https://openai.com/index/evolving-our-structure/?utm_campaign=article_email&utm_content=article-14985&utm_medium=email&utm_source=sg

 #Artificial Intelligence

Elon Musk might have won the battle over OpenAI’s future, but who’s to say Sam Altman isn’t going to win the war? Today’s announcement by the ChatGPT creator that it was abandoning plans to move its for-profit arm out from under control of the nonprofit—conceding to Musk’s legal efforts to stop the restructuring—could end up cementing Altman’s power at OpenAI. After all, OpenAI will remain a company whose controlling shareholder is the nonprofit. So whoever controls the nonprofit controls OpenAI.  https://openai.com/index/evolving-our-structure/?utm_campaign=article_email&utm_content=article-14985&utm_medium=email&utm_source=sg   #Artificial Intelligence

An update from the OpenAI board on transitioning its for-profit entity to a Public Benefit Corporation, reinforcing its mission-driven structure under nonprofit oversight while enabling greater impact and long-term alignment with the public good.

Evolving OpenAI’s structure

OpenAI’s ongoing $40 billion megaround is dependent on a key condition: the ChatGPT maker being able to complete its conversion to a for-profit structure by the end of the year, according to a person briefed on the round’s terms. If OpenAI isn’t able to do so, the round’s lead investor, SoftBank, could slash the size of the round in half, to $20 billion, the person said.
The round consists of two tranches: an initial tranche of $10 billion and a second tranche of $30 billion which is expected to come later this year. If OpenAI is unable to complete the for-profit conversion, the second tranche would be cut to $10 billion, the person briefed said.
SoftBank is expected to provide at least $30 billion of the $40 billion OpenAI is attempting to raise this year. The initial tranche of funding is expected to close in the upcoming weeks, the person said. A spokesperson for SoftBank declined to comment. The Wall Street Journal first reported on the conversion condition.
This term highlights the amount of pressure OpenAI is under to get its for-profit business out from under the control of the nonprofit. The company has faced several obstacles in doing so, including ongoing negotiations with Microsoft and lawsuits from Elon Musk, an OpenAI cofounder, attempting to stop the conversion process.

 #Artificial Intelligence 

https://www.wsj.com/tech/ai/openais-latest-funding-round-comes-with-a-20-billion-catch-1e47d27d

OpenAI’s ongoing $40 billion megaround is dependent on a key condition: the ChatGPT maker being able to complete its conversion to a for-profit structure by the end of the year, according to a person briefed on the round’s terms. If OpenAI isn’t able to do so, the round’s lead investor, SoftBank, could slash the size of the round in half, to $20 billion, the person said. The round consists of two tranches: an initial tranche of $10 billion and a second tranche of $30 billion which is expected to come later this year. If OpenAI is unable to complete the for-profit conversion, the second tranche would be cut to $10 billion, the person briefed said. SoftBank is expected to provide at least $30 billion of the $40 billion OpenAI is attempting to raise this year. The initial tranche of funding is expected to close in the upcoming weeks, the person said. A spokesperson for SoftBank declined to comment. The Wall Street Journal first reported on the conversion condition. This term highlights the amount of pressure OpenAI is under to get its for-profit business out from under the control of the nonprofit. The company has faced several obstacles in doing so, including ongoing negotiations with Microsoft and lawsuits from Elon Musk, an OpenAI cofounder, attempting to stop the conversion process.   #Artificial Intelligence   https://www.wsj.com/tech/ai/openais-latest-funding-round-comes-with-a-20-billion-catch-1e47d27d

A stipulation of the funding round, led by SoftBank, is adding pressure to OpenAI’s efforts to convert to a for-profit company.

Exclusive | OpenAI’s Latest Funding Round Comes With a $20 Billion Catch

A dozen former OpenAI employees argued in a court brief filed Friday that OpenAI’s nonprofit should remain in control of the ChatGPT maker’s business. The document in support of Tesla CEO Elon Musk’s lawsuit against OpenAI includes former employees such as Daniel Kokotajlo and William Saunders who have previously criticized OpenAI’s safety practices and supported whistleblower protections for employees of AI companies.

“OpenAI was created exclusively for the purpose of ensuring that artificial general intelligence benefits all of humanity,” the former employees wrote. “Any fundamental restructuring that removes the Nonprofit’s controlling role would not only contradict OpenAI’s founding mission and Charter commitments, but would also breach the trust of employees, donors, and other stakeholders.”

Musk alleges that OpenAI has violated its duties as a charitable nonprofit, including by its planned conversion to a for-profit corporation.

Harvard law professor Lester Lessig is representing the ex-OpenAI employees, who include former governance researchers at the ChatGPT maker. Lessig previously supported SB 1047, the failed California regulation that would have required companies developing powerful AI models to test their models for risks and granted whistleblower protections to their employees.

OpenAI says that its nonprofit entity will continue to pursue its mission after the conversion. A group that advocates on AI policy filed its own amicus brief in December arguing that it would be impossible for the OpenAI nonprofit to be fairly compensated in a conversion. OpenAI countersued Musk on Wednesday, alleging unfair competition. The case is set to go to trial next March.

https://www.reuters.com/technology/artificial-intelligence/group-ex-openai-employees-back-musks-lawsuit-halt-openai-restructure-2025-04-12/

A dozen former OpenAI employees argued in a court brief filed Friday that OpenAI’s nonprofit should remain in control of the ChatGPT maker’s business. The document in support of Tesla CEO Elon Musk’s lawsuit against OpenAI includes former employees such as Daniel Kokotajlo and William Saunders who have previously criticized OpenAI’s safety practices and supported whistleblower protections for employees of AI companies.  “OpenAI was created exclusively for the purpose of ensuring that artificial general intelligence benefits all of humanity,” the former employees wrote. “Any fundamental restructuring that removes the Nonprofit’s controlling role would not only contradict OpenAI’s founding mission and Charter commitments, but would also breach the trust of employees, donors, and other stakeholders.”  Musk alleges that OpenAI has violated its duties as a charitable nonprofit, including by its planned conversion to a for-profit corporation.  Harvard law professor Lester Lessig is representing the ex-OpenAI employees, who include former governance researchers at the ChatGPT maker. Lessig previously supported SB 1047, the failed California regulation that would have required companies developing powerful AI models to test their models for risks and granted whistleblower protections to their employees.  OpenAI says that its nonprofit entity will continue to pursue its mission after the conversion. A group that advocates on AI policy filed its own amicus brief in December arguing that it would be impossible for the OpenAI nonprofit to be fairly compensated in a conversion. OpenAI countersued Musk on Wednesday, alleging unfair competition. The case is set to go to trial next March.  https://www.reuters.com/technology/artificial-intelligence/group-ex-openai-employees-back-musks-lawsuit-halt-openai-restructure-2025-04-12/

A dozen former OpenAI employees filed a legal brief on Friday backing co-founder Elon Musk's lawsuit aimed at keeping the non-profit status of OpenAI, marking the latest development in the dispute over the future of the artificial intelligence firm.

Group of ex-OpenAI employees back Musk's lawsuit to halt OpenAI restructure

Cyril

OpenAI countersued Elon Musk, saying Musk has harmed the ChatGPT maker by using Musk’s X network to conduct “malicious campaigns,” unfairly disrupted its business and issued a “sham bid” to acquire OpenAI.

As a result, OpenAI’s lawyers in a Wednesday filing said it is entitled to restitution and asked the court to award punitive damages, as well as to block Musk from further interference in OpenAI’s business. Musk has tried to stop OpenAI from converting to a for-profit benefit corporation from its current nonprofit form, claiming OpenAI allegedly violated its duties as a charitable nonprofit when it launched a for-profit business in 2019. Musk also launched an unsolicited $97 billion takeover bid for OpenAI.

If OpenAI fails to carry out its planned conversion, that could reduce the amount SoftBank invests in the company as part of a fundraising slated to value OpenAI at $260 billion. At a hearing last week, both parties agreed to schedule a trial for next March.

https://apnews.com/article/openai-chatgpt-countersues-elon-musk-31e3d238be1295ab23505b063693b58e

OpenAI countersued Elon Musk, saying Musk has harmed the ChatGPT maker by using Musk’s X network to conduct “malicious campaigns,” unfairly disrupted its business and issued a “sham bid” to acquire OpenAI.  As a result, OpenAI’s lawyers in a Wednesday filing said it is entitled to restitution and asked the court to award punitive damages, as well as to block Musk from further interference in OpenAI’s business. Musk has tried to stop OpenAI from converting to a for-profit benefit corporation from its current nonprofit form, claiming OpenAI allegedly violated its duties as a charitable nonprofit when it launched a for-profit business in 2019. Musk also launched an unsolicited $97 billion takeover bid for OpenAI.  If OpenAI fails to carry out its planned conversion, that could reduce the amount SoftBank invests in the company as part of a fundraising slated to value OpenAI at $260 billion. At a hearing last week, both parties agreed to schedule a trial for next March.  https://apnews.com/article/openai-chatgpt-countersues-elon-musk-31e3d238be1295ab23505b063693b58e

OpenAI is suing Elon Musk for unfair competition and interfering with its business relationships with investors and customers, escalating a legal battle between the ChatGPT maker and the billionaire w

Tasia

A group of likeminded people in Artificial Intelligence are talking about this.