Elon Musk Loses Legal Fight with Sam Altman and OpenAI Lawsuit

Elon Musk has lost his legal battle with  Sam Altman and OpenAI (ChatGPT).

Musk, a founder of OpenAI who committed funds to launch the artificial intelligence platform, took Altman to court, arguing that a non-profit cannot switch to a for-profit entity and thus have its principles become very wealthy, very fast. Musk stated that when he gave $44 million to OpenAI, its mission was to develop safe AI. He left the board in 2018, and the following year, OpenAI created a for-profit business.

Musk, claiming that Altman stole a charity, sought damages exceeding $100 million and Altman’s removal.

The trial took place in California, and the jury quickly returned a verdict denying Musk’s claims and clearing the company and Altman of legal liability.

While Altman will claim a moral victory and vindication, the decision was ultimately more nuanced: it was determined that Musk filed the case too late and that the statute of limitations had expired.

While OpenAI is apparently safe from Musk’s ire, the result probably leaves Musk and his attorneys wanting. As of yet, neither Musk nor Altman nor their representatives has issued an official statement on the court’s finding.

 

 



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Disclosure Quest

Reg A - Form 1-A Filings Beta

Beta. Initial Form 1-A only. Target raise is the stated Amount to be Raised, totaled. Compared with the same dates one year earlier.

YTD: Jan 1, 2026 - Oct 20, 2026 vs Jan 1, 2025 - Oct 20, 2025

Share this graph
Number of Filings129Prior 124 +4.0%
Target Raise, Total$3.37BPrior $3.52B -4.3%
This YTDYear priorChange
Filings 129 124 +4.0%
Target raise $3.37B $3.52B -4.3%

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Source: DisclosureQuest. Initial Form 1-A only.

Created by Crowded Media Group

This display counts initial Form 1-A filings only. It does not represent subsequent filings, including Form 1-A/A amendments or Form 1-A POS post-qualification updates filed by the issuer. Amounts are the stated Amount to be Raised on the initial filing, not capital raised and not amounts revised in later filings.

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