SoftBank's SB Energy is filing for an IPO backed by Nvidia and OpenAI
The AI infrastructure company plans to list on Nasdaq under the ticker SBE and aims to raise between $5 billion and $7 billion
OpenAI has responded to Apple's allegations of trade secret theft, asserting in a federal court filing that the dispute is a result of Apple's own actions. According to Reuters, OpenAI maintains that the lawsuit is an effort to hinder a rival company and discourage future employee departures. The tech giant claims that California law permits employees to freely transfer between companies.
OpenAI points out that Apple's practices, such as allowing staff to use personal iCloud accounts for work and immediately removing departees from the premises, may have contributed to the situation. The company argues that the onus should be on Apple to address internal issues instead of accusing former employees of wrongdoing. OpenAI also contended that Liu, one of the former employees accused of stealing trade secrets, only had access to Apple documents to assist colleagues and that Tan returned his prototypes along with most non-confidential materials.
OpenAI sees the dispute as a result of Apple's slow adoption of AI technology compared to a more agile competitor. The case is set to be heard by Judge Edward J. Davila on October 1.
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