Jury clears OpenAI, IPO path in focus

A U.S. federal jury on May 18, 2026 found OpenAI, Sam Altman and Greg Brockman not liable to Elon Musk in Musk v. Altman. The verdict came after 11 days of testimony and arguments, according to Reuters, concluding a closely watched dispute over the company’s direction and governance.

Coverage described the ruling as removing a major legal overhang for OpenAI at a time when the company is weighing a public listing. With the lawsuit resolved in OpenAI’s favor, attention has shifted from courtroom proceedings to the company’s capital markets plans and potential valuation.

Reuters reported that Elon Musk criticized the outcome on X. In his post, Musk said in part that “Altman & Brockman did in fact enrich themselves by stealing a charity,” underscoring his continued public opposition despite the jury’s decision.

Reuters reported that the verdict simplifies the path for a possible initial public offering that could value OpenAI at $1 trillion. The report framed the ruling as clearing a significant obstacle to a listing that has been widely discussed in financial markets.

On the same day, a TradingKey analysis cited by coverage described an IPO plan targeted for the fourth quarter of 2026, with market valuation expectations near $852 billion. The analysis noted that the potential listing window could slip into mid-to-late 2027, highlighting uncertainty around timing even as investor interest intensifies.

Industry commentary referenced by CNBC headlines pointed to expectations that an OpenAI IPO could be among the largest on record. One CNBC headline cited Tenacity’s Ben Narasin as expecting OpenAI’s IPO to be the second biggest of all time, reflecting bullish sentiment around the company’s market debut.

Reporting also emphasized the depth of OpenAI’s strategic backing. Reuters noted that Microsoft (MSFT) told the court it has spent more than $100 billion on its partnership with OpenAI, underscoring both the financial scale and the importance of the relationship to the company’s development.

The size of Microsoft’s (MSFT) reported commitment has been cited as a key factor supporting high valuation expectations for a potential listing. It also illustrates how major technology firms are allocating substantial resources to artificial intelligence platforms and infrastructure.

Despite the legal victory and strong backing, commentary described sentiment as mixed. The jury verdict removed a significant legal risk, but analysts and observers continue to debate appropriate valuation levels and the feasibility of the proposed IPO timetable.

Musk’s sharp criticism of the verdict on X highlights continuing public disagreement over OpenAI’s governance and mission, even as capital markets focus turns toward the mechanics of a potential listing. Together, the developments place OpenAI at the center of both legal and financial scrutiny heading into the next phase of its growth.