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Musk Loses Lawsuit; OpenAI, SpaceX Target Trillion-Scale IPOs

5/26/2026

27 3 Full Breakdown

Summary

Story summary

Elon Musk lost his lawsuit against Sam Altman, Greg Brockman and OpenAI in Oakland.
The jury found the defendants not liable for Musk’s claims of unjust enrichment and contract breach.
The ruling clears OpenAI’s path to a 2026 IPO valued around $1 trillion.
SpaceX announced a $1.75 trillion Nasdaq IPO under SPCX for a June 12 listing.
Google unveiled Gemini Spark at I/O and set Search to default to “Search AI Mode”.

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Story summary

Elon Musk lost his lawsuit against Sam Altman, Greg Brockman and OpenAI in Oakland.
The jury found the defendants not liable for Musk’s claims of unjust enrichment and contract breach.
The ruling clears OpenAI’s path to a 2026 IPO valued around $1 trillion.
SpaceX announced a $1.75 trillion Nasdaq IPO under SPCX for a June 12 listing.
Google unveiled Gemini Spark at I/O and set Search to default to “Search AI Mode”.