Register

    Elon Musk drops lawsuit against ChatGPT-maker OpenAI without explanation

    By SHOOTUpdated:No Comments519 Views
    Tesla CEO Elon Musk leaves the Tesla Gigafactory for electric cars after a visit in Gruenheide near Berlin, Germany, March 13, 2024. (AP Photo/Ebrahim Noroozi, File)
    SAN FRANCISCO (AP) --

    Elon Musk has dropped his lawsuit against OpenAI just ahead of a scheduled Wednesday hearing on the case.

    Musk in February sued the San Francisco artificial intelligence company and its CEO Sam Altman over what he said was a betrayal of the ChatGPT maker's founding aims of benefiting humanity rather than pursuing profits.

    In the lawsuit filed in February at San Francisco Superior Court, billionaire Musk said that when he bankrolled OpenAI's creation, he secured an agreement with Altman and Greg Brockman, the president, to keep the AI company as a nonprofit that would develop technology for the benefit of the public and keep its code open instead of walling it off for private gain.

    However, by embracing a close relationship with Microsoft, OpenAI and its top executives set that pact "aflame" and are "perverting" the company's mission, Musk alleged in the lawsuit.

    Most legal experts said Musk's claims — centered around allegations of breach of contract, breach of fiduciary duty and unfair business practices — were unlikely to succeed in court. Musk's lawyer filed a notice Tuesday seeking to dismiss the entire case. No explanation was given for why it was being dropped.

    Musk's lawyers and OpenAI didn't immediately respond to requests for comment.

    Tags:ChatGPTElon MuskOpenAISam Altman



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

    MySHOOT Profiles


    Add A Comment