Apple has filed a federal lawsuit against OpenAI in the Northern District of California, accusing the company and former employees of misappropriating trade secrets to develop AI hardware products. Named in the lawsuit are Tang Tan, OpenAI’s chief hardware officer, and Chang Liu, a former Apple engineer. Apple is seeking injunctive relief and expedited discovery, concerned about the potential involvement of other former employees. Market participants view this lawsuit as a negative factor for OpenAI’s valuation prospects, with current pricing suggesting doubt about the company’s ability to meet its high valuation targets by year-end.
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