{"id":46824,"date":"2026-05-21T12:26:13","date_gmt":"2026-05-21T12:26:13","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/46824\/"},"modified":"2026-05-21T12:26:13","modified_gmt":"2026-05-21T12:26:13","slug":"forbes-daily-musk-and-altmans-next-battle-is-spacex-openai-ipos","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/46824\/","title":{"rendered":"Forbes Daily: Musk And Altman\u2019s Next Battle Is SpaceX, OpenAI IPOs"},"content":{"rendered":"

The courtroom drama between billionaires Sam Altman and Elon Musk may be over for now, but their companies\u2019 upcoming IPOs<\/a> could set the stage for another face-off.<\/p>\n

The ChatGPT maker could reportedly file initial paperwork with the SEC this week, with a potential target for a September public debut. Musk\u2019s SpaceX made its IPO filing public<\/a> Wednesday, and plans to list on the Nasdaq in June.<\/p>\n

Altman and Musk cofounded OpenAI together, but the two have since become foes, with a jury this week throwing out Musk\u2019s lawsuit against the firm.<\/p>\n

Join us for The First $1 Trillion IPOs, our next member\u2019s panel with Forbes editors featuring a live audience Q&A on May 27, from noon to 1 p.m. EST, and learn more about this new wave of blockbuster IPOs. Register here to get the inside story.<\/a> <\/p>\n

This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here<\/a>. <\/a>First UpInterest rate hikes could be coming if inflation stays above the Federal Reserve\u2019s target, a majority of central bank officials warned in meeting minutes<\/a> from April that were released Wednesday.Rupert Murdoch\u2019s youngest son James, who has publicly feuded with his father, is making a major move into the media industry with a $300 million deal<\/a> to acquire roughly half of left-leaning Vox Media.Business + Finance<\/p>\n

The Commodity Futures Trading Commission is investigating a set of oil futures trades made just before President Donald Trump announced a ceasefire extension with Iran, and three, previously unknown targets<\/a> of their probe were made public Wednesday. The trades earned the companies more than $15 million, according to the Wall Street Journal, though the firms have not been accused of wrongdoing.<\/p>\n

Wealth + Entrepreneurship<\/p>\n

Amazon founder Jeff Bezos, the world\u2019s fourth-richest person, said that the bottom half of earners<\/a> in the U.S. should not pay federal income tax. But the e-commerce giant itself is known for paying low wages\u2014the average hourly pay for Amazon delivery drivers is $19, less than what unionized UPS drivers earn\u2014and Bezos\u2019 comments come as more states are trying to enact new taxes on their wealthiest residents.<\/p>\n

Among the biggest revelations of the IPO prospectus that SpaceX filed Wednesday is that the company\u2019s board member Luke Nosek\u2014a cofounder of PayPal and venture capital firms Founders Fund and Gigafund\u2014is now a billionaire<\/a>. Forbes estimates that Nosek, who has served as a director at SpaceX since 2008, is worth $2.7 billion thanks to his estimated 0.22% stake in the rocketmaker, which is double the 0.11% stake of the company\u2019s longtime president and chief operating officer Gwynne Shotwell.<\/p>\n

Money + Politics<\/p>\n

President Donald Trump\u2019s updated settlement with the IRS to prohibit the government from prosecuting him and his family for certain crimes and end any IRS audits against him drew sharp backlash from legal experts<\/a> and Democrats. Former federal prosecutor Joyce Vance said Trump \u201cseems to have found a way around the likely legal rule that a president can\u2019t pardon himself,\u201d though experts have long debated whether presidents can pardon themselves.<\/p>\n

MORE: Two Washington, D.C. police officers who were present at the Jan. 6 Capitol riots are suing to block<\/a> the Trump administration\u2019s controversial $1.8 billion fund for victims of Justice Department \u201cweaponization.\u201d The officers said they have faced \u201cpersistent threats of violence\u201d since Trump issued broad pardons for Jan. 6 rioters after returning to office, and claim the fund will \u201ccompensate and empower the very people making those threats.\u201d<\/p>\n

DAILY COVER STORYMeet The 25-Year-Old Vying To Become Hollywood\u2019s First AI Movie Mogul<\/a><\/p>\n

Instead of a ghost-written memoir or biopic, Hall of Fame basketball player Carmelo Anthony opted to tell his story through a partnership with Utopai Studios, the Silicon Valley-based startup specializing in AI movies and TV shows.<\/p>\n

The 41-year-old NBA legend will produce AI-generated video content about his life and other sports stories through his Creative 7 Productions label. Anthony\u2019s investment into Utopai\u2014which both sides declined to share the size of, but Forbes estimates around $5 million\u2014was at a staggering $1 billion valuation.<\/p>\n

It\u2019s an astronomical amount for a company with revenue that Forbes estimates was less than $50 million in 2025, and has yet to put out a full-length movie or TV show. Still, with projects in the pipeline and strong 2026 projections, the premium price tag announces Utopai as a true competitor in the ongoing Hollywood AI arms race.<\/p>\n

According to one industry report, more than 65 new AI studios have launched since 2022. Most exist somewhere in the murky middle ground between AI-assisted workflow efficiencies on one end and completely AI-generated creative output on the other. Still, the excitement about AI has set off both an existential panic among Hollywood\u2019s union and guild members (whose jobs may soon be obsolete) and a frenzy among the investor and executive class, many of whom have spent the last few years placing bets on the companies they think can become dominant players.<\/p>\n

Still, investments in AI production are mostly speculative at this point. No one has yet produced a feature-length or even episode-length piece of AI storytelling that has become commercially viable. But Utopai\u2019s 25-year-old founder Cecilia Shen thinks her technology is the first to crack the code.<\/p>\n

WHY IT MATTERS \u201cThe future of Hollywood will be written by whoever figures out how to use AI most effectively,\u201d says Forbes reporter Matt Craig. \u201cBut in a total free-for-all among tech startups for supremacy, there\u2019s opportunity for a 25-year-old outsider to step into a power position\u2014if her AI engine is as good as she says it is.\u201d<\/p>\n

MORE Inside Suno\u2019s $2.5 Billion Bet That AI-Made Music Is Here To Stay<\/a><\/p>\n

FACTS + COMMENTS<\/p>\n

Faculty at Harvard University approved a plan to cap the number<\/a> of A grades handed out to undergraduates in a particular course. The school, like others nationwide, has seen grade inflation in recent years, which many argue makes top scores less meaningful:<\/p>\n

Over 60%: The share of all undergraduate grades at Harvard that were A\u2019s in the 2024-2025 school year<\/p>\n

20%: The new limit on A grades, plus an allowance for an additional four in each class<\/p>\n

3.15: The average college GPA in 2020, compared to 2.81 in 1990, according to the National Center for Education Statistics<\/p>\n

STRATEGY + SUCCESS<\/p>\n

It may seem counterintuitive, but mass applying to roles with the same application materials\u2014also known as doomjobbing<\/a>\u2014can actually make your job search take longer. Treating job applications like a numbers game pushes you to apply to roles without thinking about how they apply to your skills, experience and goals. It will take you longer, but be sure to invest time into networking so you can be top of mind when opportunities arise.<\/p>\n

VIDEOQUIZ<\/p>\n

The Justice Department indicted a federal prosecutor this week for attempting to steal confidential files from one of the 2023 criminal cases against President Donald Trump. What was she accused of disguising the court documents as?<\/p>\n

A. Concert tickets<\/p>\n

B. Cake recipes<\/p>\n

C. Grocery receipts<\/p>\n

D. Lease documents<\/p>\n

Check your answer.<\/a><\/p>\n

Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.<\/p>\n","protected":false},"excerpt":{"rendered":"The courtroom drama between billionaires Sam Altman and Elon Musk may be over for now, but their companies\u2019…\n","protected":false},"author":2,"featured_media":46825,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[321,28181,2962,5887,369,4163,2848,157,658,28182],"class_list":["post-46824","post","type-post","status-publish","format-standard","has-post-thumbnail","category-openai","tag-amazon","tag-forbes-daily","tag-harvard","tag-hollywood","tag-iran","tag-irs","tag-newsletter","tag-openai","tag-spacex","tag-vox"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/46824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=46824"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/46824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/46825"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=46824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=46824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=46824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}