Elon Musk loses his court battle against Sam Altman's OpenAI, but vows to keep fighting

The world's richest man Elon Musk lost his blockbuster lawsuit against artificial intelligence giant OpenAI on Monday, with a federal jury finding that the tycoon had waited too long to bring his case forward. The trial saw some of the most powerful figures in Silicon Valley go head-to-head with their competing ambitions for the rapidly changing technology.

A jury’s rejection of Elon Musk’s $150 billion lawsuit against OpenAI was a major hurdle crossed. But the maker of ChatGPT faces a list of other problems.

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London-headquartered bank will reduce back-office jobs and aims to move some workers to new roles Business live – latest updates Standard Chartered plans to cut more than 7,000 jobs over the next four years as it increasingly uses artificial intelligence. The London-headquartered lender is one of the first major global banks to lay out plans to cut thousands of jobs, citing AI as a driver to make its operations slimmer as it seeks to increase its profitability and tackle competition. Continue reading...

A federal jury has thrown out every claim in Elon Musk’s lawsuit against OpenAI and Sam Altman, finding the case to have been filed past its legal deadline. Verdict Reached, But Battle Not Over A federal jury in Oakland, California sided with OpenAI on May 18, unanimously dismissing all claims in Elon Musk’s lawsuit against […]

Anthropic has acquired Stainless, a New York-based developer tools startup founded by former Stripe engineer Alex Rattray, in a deal reported to be worth more than $300 million. The acquisition removes a critical piece of shared AI infrastructure from competitors, as Anthropic confirmed it will wind down all hosted Stainless products and restrict access exclusively […]

South Korea’s KB Financial has completed a Proof-of-Concept (PoC) for won-denominated stablecoin as lawmakers and experts push to advance the country’s digital asset framework. Related Reading: Hacker Drains $11.58 Million From Verus-Ethereum Bridge KB Stablecoin Pilot Cuts Fees, Speeds Transfers On Sunday, KB Financial Group, the parent company of South Korea’s largest bank, announced that […]

While proprietary AI models such as OpenAI’s ChatGPT and Google Gemini remain popular, the tide may be shifting to open models as IT leaders move to customize AI and control costs. Sometimes known as “open-weight models,” the alternatives to large language models (LLMs) can provide decision-makers with better visibility and control over internal AI use, which closed models do not, analysts said. They can also help IT leaders control the economics and governance of AI within their organizations. “It’s almost like these blank canvases are available now and then you can paint it on your own,” said Deepak Seth, senior director analyst at Gartner. “You don’t have to make the canvas itself. So you’re not starting from scratch, even when you’re building your own model.” Open models are free to download and use. Users can tweak and deploy them to meet their own requirements, similar to the way Linux OS is available for anyone to download, tweak, and use. Open models have been gaining traction