Elon Musk dropped his lawsuit against OpenAI, according to two June 11 court filings.One filing states that Musk, as the plaintiff, filed a notice of entry of dismissal and proof of service.The other states that the case has been dismissed without prejudice, leaving Musk with the option of refiling it later.CNBC reported the same day that the Superior Court of California of the County of San Francisco intended to proceed with a hearing on June 12 before Musk dropped the case.The hearing would have considered OpenAI and associated defendants’ request to dismiss the lawsuit.Musk filed his lawsuit against OpenAI, its co-founder and CEO, Sam Altman, and several other company members on Feb. 29.Musk raised numerous formal charges, including a breach of contract and engagement in unfair competition. The lawsuit alleged that OpenAI now develops AI for profit rather than for the benefit of humanity, has turned to a closed-source model, and has effectively become a subsidiary of its funding source and partner, Microsoft.In March, OpenAI issued a public statement claiming that Musk had recognized the need for a for-profit model. The firm said it intended to request the court to dismiss the case at that time.Musk helped establish OpenAI and remained on the company’s board until 2018.He currently leads competing firm xAI, which claims to have pro-humanity goals. The company secured $6 billion in funding in May, bringing its valuation to $24 billion.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Stay ahead in the crypto game: Follow us on X for daily updates and analysis.Embracing Bitcoin mining could be pivotal in Trump’s envisioned energy strategy.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
