OpenAI IPO Nears, Musk Case Tossed

OpenAI is gunning for an IPO worth nearly $852 billion, but as it races to break into highly regulated industries like finance and education, the spotlight is on its legal risks and governance. A California jury just tossed Elon Musk’s lawsuit, clearing a major obstacle for the IPO filing, but investors will zero in on who really controls OpenAI after last year’s board drama—and how the company plans to keep its AI models safe at massive scale.

But here’s the catch: legal storm clouds aren’t clearing. OpenAI is fighting lawsuits that question its liability for AI-generated advice and its privacy practices, especially as it integrates with key platforms like Apple’s Siri. Meanwhile, a personal finance preview powered by Plaid lets ChatGPT Pro users connect to thousands of banks, raising tough questions about data governance, user consent, and security—especially after new class actions allege privacy violations involving user data. If OpenAI can’t prove its safeguards, it risks regulatory and reputational blowback just as it goes public.

Featuring reporting from The New York Times, Reuters, PBS, TechCrunch, American Banker, and Tech Times, plus expert insights from Javelin’s Dylan Lerner.

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