Elon Musk asks US court to block OpenAi's for-profit conversion
Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit enterprise. Attorneys representing the billionaire and his AI startup, xAI, filed the injunction Friday, according to World Bank approves $1.16bn for three Bangladesh projects.
Details of the Injunction
The injunction also requests that OpenAI be stopped from allegedly barring its investors from funding competing companies. This move marks the latest development in a business feud between OpenAI and Musk. Musk co-founded the group in 2015 but has since left.
OpenAI's Transition
OpenAI, initially founded as a non-profit organization, has now transitioned to a "capped" for-profit enterprise and is looking to become a for-profit public benefit corporation, which could attract more investment. Musk expressed his discomfort with the profit-driven direction the company was taking under the leadership of CEO Sam Altman, leading to the lawsuit filed in March.
Legal Dispute
Musk alleges that OpenAI restricts its investors from investing in rival companies, putting his own startup at a disadvantage in the competitive AI sector.
On the other hand, OpenAI argues that Musk's lawsuit is driven by dissatisfaction after leaving the company and his support for open source development in AI.
