Apple Sues OpenAI Over Trade Secrets
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- Apple filed a trade secrets lawsuit against OpenAI accusing it of a "pattern of misconduct" aimed at getting current and former Apple employees to share confidential information, with OpenAI responding it is "not aware of any evidence that this complaint has merit."
- The complaint names Tang Tan, OpenAI's chief hardware officer and a former Apple employee, and alleges that more than 400 Apple employees now work at OpenAI.
- OpenAI's hardware plans — including a mobile smart speaker being developed with Jony Ive — face potential delays from the suit even absent any court order, per Equity host Sean O'Kane.
- OpenAI has confidentially filed for an IPO, potentially as early as the end of this year or early next year, but its hardware business isn't yet reflected in investor pitches, creating pricing risk for the offering.
- Equity host Kirsten Korosec predicted OpenAI will fight rather than settle, drawing a parallel to its recent courtroom victory against Elon Musk.
Why it matters: OpenAI's confidential IPO targets a late-2025 or early-2026 window, but its hardware business — absent from current investor pitches — now faces a trade secrets suit over an alleged pipeline of 400+ ex-Apple employees. Per the Equity hosts, any delay to a Jony Ive-designed smart speaker would introduce a new variable into how bankers price the offering.
