Musk vs OpenAI trial heats up as SpaceX plans record IPO

May 16, 2026

This is messy news for both sides — Musk and OpenAI's leaders come out of the trial looking like liars, while Musk skips court to fly to China with Trump.

  • Musk is suing OpenAI, claiming Altman and Brockman betrayed the original nonprofit mission and used his early $38 million to build an $850 billion for-profit company.
  • A judge ordered Musk to stay available for the witness stand, but he flew to China with Trump anyway.
  • Court testimony paints both sides as untrustworthy — Altman was grilled on whether he always tells the truth, and Brockman's own diary admits turning OpenAI for-profit would be "morally bankrupt."
  • SpaceX is rushing to go public June 12, aiming to raise $80 billion in what could be the biggest IPO ever, while AI money is still flowing.
  • Musk and Altman are publicly claiming AI will be smarter than humans within a year and that people won't need retirement savings — pitching universal basic income from the world's richest man.

Outlook: A ruling is expected within a week, with appeals likely either way, and Musk is leaning on his ties to Trump to pressure regulators and competitors.

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