Musk testifies he did not read 'fine print' about OpenAI becoming for-profit company
Musk said he did not read a 2017 term sheet that outlined OpenAI’s planned shift to a for-profit structure and a future $10 billion raise.
- Elon Musk testified Thursday that OpenAI CEO Sam Altman misled him about the firm's shift to a for-profit structure, alleging breach of charitable trust in his $150 billion lawsuit against the AI company.
- In 2015, Musk provided $38 million in early funding to establish OpenAI as a nonprofit research lab, testifying he was reassured by Altman the organization would remain nonprofit and prioritize humanity's benefit.
- Documents presented by OpenAI counsel William Savitt show prior awareness of commercialization, while Musk testified he "didn't read the fine print" regarding an August 31, 2017 term sheet proposing a $10 billion corporate structure.
- Demanding $150 billion in damages, Musk also seeks removal of Altman and President Greg Brockman from leadership roles, pledging to donate any court-awarded proceeds to OpenAI's charitable arm.
- This trial could reshape investor rights and governance for AI firms, as the legal battle over diverted charitable assets continues in Oakland federal court with implications potentially affecting AI industry structure.
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61 Articles
Elon Musk clashes with OpenAI’s attorney on his third day of testimony at high-stakes trial
Elon Musk on Thursday sparred with an attorney for OpenAI during his third day of testimony in the contentious trial over the company’s pivot from nonprofit status to a for-profit venture valued at hundreds of billions of dollars.The trial centers on the 2015 birth of the ChatGPT maker as a nonprofit startup primarily funded by Musk. It pits the world’s richest person against Sam Altman, a fellow OpenAI co-founder he accuses of betraying promise…
Musk testifies he was ‘a fool’ for funding OpenAI, alleges betrayal of nonprofit mission
Elon Musk testified Wednesday in federal court that he was "a fool" for funding OpenAI, accusing CEO Sam Altman of betraying the company's original nonprofit mission. Musk's 2024 lawsuit alleges he was misled when co-founding OpenAI in 2015 on the understanding it would remain a charitable entity; the AI firm is now valued at about $85 billion with a for-profit arm. "I was a fool who provided them free funding to create a startup," Musk told the…
‘This is a real risk, we all could die as a result of artificial intelligence’ — the OpenAI trial took a dramatic turn as Elon Musk and Sam Altman faced off over AI’s real-world danger
A dramatic courtroom clash between Elon Musk and Sam Altman briefly turned into a stark warning about AI extinction risk — before the judge shut it down.
Key takeaways from Musk's testimony at OpenAI trial
Elon Musk testified for more than seven hours over three days this week at a trial in Oakland, California, over the future of OpenAI, casting his lawsuit against the owner of ChatGPT as a defense of the institution of charitable giving.Musk, the CEO of Tesla and SpaceX as well as the world's richest person, is also suing OpenAI's Chief Executive Sam Altman and its President Greg Brockman, saying they betrayed him and the public by abandoning th…
Elon Musk was subjected to a muscular cross-examination on the third day of the trial against Sam Altman.
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