45

Robotics & AI, Startups

OpenAI: Musk Gives Meager $45M Contribution, Seeking Tesla Merge or Takeover

The organization also secured more than $90 million from other donors to support its research efforts. This is when disagreements started between Musk and other co-founders of Tesla, OpenAI wrote in the blog post, which includes five email exchanges between Musk and OpenAI executives. “As we discussed a for-profit structure in order to further the mission, Elon wanted us to merge with Tesla or he wanted full control. Elon left OpenAI, saying there needed to be a relevant competitor to Google/DeepMind and that he was going to do it himself. As Ilya told Elon: ‘As we get closer to building AI, it will make sense to start being less open.

Ava Patel
March 5, 2024

Startups, Transportation

“SEC Demands $45M from Insolvent Lordstown Motors”

Bankrupt EV startup Lordstown Motors could be on the hook for $45 million for violating federal securities laws. The SEC first started probing Lordstown Motors in 2021, just days after short-selling research firm Hindenburg Research published a report laying out a number of allegations of fraud. Lawyers for Lordstown Motors revealed early on in the bankruptcy process that it had held confidential settlement talks with the SEC. Lordstown Motors and a lawyer for the SEC did not immediately respond to requests for comment. Some investigations — like the one into Lucid Motors, or struggling EV startup Workhorse — have been dropped without any enforcement action.