Apple Sues OpenAI for Trade-Secret Theft, Potentially Clouding IPO Plans

Apple filed a trade-secrets lawsuit against OpenAI last Friday, alleging a systematic pattern of misconduct that reaches as high as OpenAI's chief hardware officer. The complaint claims more than 400 former Apple employees now work at OpenAI, framing the hiring as part of the alleged theft.

The timing is particularly consequential for OpenAI, which is reportedly eyeing a public offering. The company's response has been carefully hedged, and a high-profile legal dispute with one of the world's largest technology companies could complicate both the IPO timeline and investor sentiment heading into it.