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Elon Musk loses lawsuit against OpenAI as jury rules claims filed too late

A federal jury unanimously dismissed Elon Musk's lawsuit against OpenAI, Sam Altman, and Microsoft after deliberating less than two hours. The verdict clears a major obstacle to OpenAI's anticipated $1 trillion IPO, though the trial exposed internal conflicts and raised questions about Sam Altman's credibility that could affect investor confidence.

Business58 sources

Elon Musk loses lawsuit against OpenAI as jury rules claims filed too late

Business58 sources

Greg Brockman Takes Control of OpenAI Product Strategy as Company Merges ChatGPT and Codex

OpenAI co-founder Greg Brockman now officially leads the company's product strategy, overseeing the merger of ChatGPT and Codex into a single unified experience. The company reorganization comes as OpenAI refocuses on core products and prepares for a potential IPO later this year, while several senior executives have departed.

Business3 sources

Greg Brockman Takes Control of OpenAI Product Strategy as Company Merges ChatGPT and Codex

Business3 sources

Unitree unveils $650K giant rideable mecha robot as company files for $7 billion IPO

Unitree Robotics unveiled the GD01, a 2.8-meter transformable mecha that a human pilot operates from an open cockpit. Priced at approximately $650,000, the robot switches between bipedal and quadrupedal modes in seconds. The launch comes as Unitree files for a $7 billion IPO, having shipped more humanoid robots than Tesla in 2025 and capturing 70% of the global quadruped robot market.

Technology3 sources

Unitree unveils $650K giant rideable mecha robot as company files for $7 billion IPO

Technology3 sources

Blackstone raises $1.75 billion in data center REIT IPO targeting AI infrastructure assets

Blackstone Digital Infrastructure Trust raised $1.75 billion through its IPO, marking the largest-ever blind-pool REIT offering. The real estate investment trust will acquire data centers valued between $250 million and $1.5 billion, leased to hyperscalers. The move reflects strong investor appetite for AI infrastructure as Big Tech spending approaches $700 billion this year.

Business2 sources

Blackstone raises $1.75 billion in data center REIT IPO targeting AI infrastructure assets

Business2 sources

xAI burns $6.4 billion as SpaceX IPO filing reveals why AI spending will accelerate further

Elon Musk's xAI lost $6.4 billion from operations on just $3.2 billion in revenue in 2025, according to SpaceX's IPO filing. The losses are set to grow as the company plans to scale Grok to multiple trillions of parameters, requiring massive AI infrastructure investment. With capital expenditures hitting a $30.8 billion annualized run rate and only 117 million users actively engaging with Grok features, the path to profitability remains unclear.

Business6 sources

xAI burns $6.4 billion as SpaceX IPO filing reveals why AI spending will accelerate further

Business6 sources

Google and SpaceX in talks to launch orbital data centers as AI compute race moves to space

Google and SpaceX are negotiating a partnership to put data centers into orbit, according to The Wall Street Journal. The potential deal comes as SpaceX prepares for its $1.75 trillion IPO, with both companies betting that space-based infrastructure will transform how AI compute is delivered within the next decade.

Technology8 sources

Google and SpaceX in talks to launch orbital data centers as AI compute race moves to space

Technology8 sources

Sam Altman faces GOP firestorm as $2 billion in investments spark OpenAI conflict concerns

Sam Altman is under investigation by GOP attorneys general and the House Oversight Committee over potential conflicts of interest stemming from his $2 billion stake in companies doing business with OpenAI. Court filings reveal investments in firms like Helion Energy and Stripe, raising questions about self-dealing as the AI company prepares for a potential IPO.

Policy3 sources

Sam Altman faces GOP firestorm as $2 billion in investments spark OpenAI conflict concerns

Policy3 sources

OpenAI employees cash out $6.6 billion in shares as AI boom drives surging valuation

More than 600 current and former employees at OpenAI sold $6.6 billion worth of shares in a major secondary stock sale, with some earning as much as $30 million. The transaction valued the company at nearly $500 billion, making it one of the world's most valuable private tech firms while helping retain top AI talent.

Business2 sources

OpenAI employees cash out $6.6 billion in shares as AI boom drives surging valuation

Business2 sources

Cerebras Systems raises $5.5B in blockbuster IPO after nearly burning out with $8M monthly spend

Cerebras Systems raised $5.5 billion in its IPO, valuing the AI chipmaker at roughly $60 billion. But the company's success story nearly ended in 2019 when it was burning $8 million monthly trying to solve a technical problem that had stumped the semiconductor industry for decades. The breakthrough came in July 2019 when the team finally cracked the packaging challenge for its dinner plate-sized chip.

Business23 sources

Cerebras Systems raises $5.5B in blockbuster IPO after nearly burning out with $8M monthly spend

Business23 sources

Moonshot AI raises $2 billion at $20 billion valuation as Chinese AI labs attract major investors

Moonshot AI, creator of the popular Kimi chatbot, has closed a $2 billion funding round at a $20 billion valuation, led by Meituan's venture arm. The Beijing-based AI lab has raised $3.9 billion in just six months, with annual recurring revenue surpassing $200 million. The deal signals surging investor appetite for Chinese AI startups as they compete with OpenAI and Anthropic.

Startups5 sources

Moonshot AI raises $2 billion at $20 billion valuation as Chinese AI labs attract major investors

Startups5 sources

OpenAI IPO ambitions collide with financial reality as losses mount to billions

OpenAI is preparing for a potential IPO in 2026 or 2027, but the path forward looks increasingly challenging. Despite reaching 900 million weekly ChatGPT users and $20 billion in annual revenue, the company missed key internal targets and faces projected losses of $14 billion in 2026 alone. The AI pioneer's struggle to balance explosive growth with massive infrastructure costs raises questions about the sustainability of the broader AI investment thesis.

Business2 sources

OpenAI IPO ambitions collide with financial reality as losses mount to billions

Business2 sources

Anthropic and OpenAI launch rival joint ventures to deploy AI models at scale for businesses

Anthropic announced a $1.5 billion joint venture with Blackstone, Goldman Sachs, and Hellman & Friedman to deploy enterprise AI services across mid-sized companies. Hours earlier, OpenAI revealed plans for a similar venture called The Development Company, raising $4 billion at a $10 billion valuation. Both AI labs are racing to solve the bottleneck in enterprise AI adoption by embedding engineers directly into businesses.

Business32 sources

Anthropic and OpenAI launch rival joint ventures to deploy AI models at scale for businesses

Business32 sources

AI chipmaker Cerebras targets $3.5 billion in IPO backed by massive OpenAI partnership

Cerebras Systems is preparing to sell 28 million shares at $115 to $125 each, targeting a $26.6 billion market cap in what could be 2026's largest tech IPO. The AI chipmaker's wafer-scale chips compete directly with Nvidia, and its $20 billion OpenAI deal anchors investor confidence despite customer concentration risks.

Business11 sources

AI chipmaker Cerebras targets $3.5 billion in IPO backed by massive OpenAI partnership

Business11 sources

Anthropic asks investors for allocations as $900B+ valuation round nears close within two weeks

Anthropic has given investors just 48 hours to submit allocations for its latest fundraise, expected to be roughly $50 billion and close within two weeks. The AI company Anthropic is targeting a potential $900B+ valuation that could surpass OpenAI's $852 billion mark, driven by soaring revenue and demand for its Mythos AI model.

Business2 sources

Anthropic asks investors for allocations as $900B+ valuation round nears close within two weeks

Business2 sources

SpaceX warns orbital AI data centers may never become commercially viable despite Musk optimism

SpaceX disclosed in its pre-IPO S-1 filing that ambitious plans to deploy AI data centers in space face significant technical viability risks and unproven technologies. The harsh space environment threatens sensitive AI hardware with radiation damage, temperature extremes, and no possibility of in-orbit repairs—contrasting sharply with Elon Musk's public optimism about space-based computing.

Technology3 sources

SpaceX warns orbital AI data centers may never become commercially viable despite Musk optimism

Technology3 sources

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