A jury declared Elon Musk filed his lawsuit against OpenAI and Sam Altman too late in a Monday afternoon verdict, finding the defendants not liable for any of the claims and ending a dramatic court showdown between two of the AI industry’s leading billionaires—at least for now, as a Musk lawyer says he plans to appeal.

Musk filed a lawsuit against Altman and OpenAI in 2024, alleging Altman reneged on an initial promise to operate the AI company as a nonprofit for the public good, making claims of unjust enrichment and breach of charitable trust.

Musk’s claims, though, were subject to three-year statutes of limitations, and the jury ruled Monday after two hours of deliberation that he had missed the deadlines to file his lawsuit.

Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump voluntarily dropped his $10 billion lawsuit against the IRS on Monday in exchange for a $1.8 billion “anti-weaponization” fund that is expected to pay out money to Jan. 6 rioters, a broadly controversial move that’s already drawn widespread outrage from Democrats and ethics experts.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The cost of the Iran war has ballooned $4 billion since the Pentagon’s last public estimate less than two weeks ago, officials said Tuesday—though the economic costs of the war are likely significantly higher.

The war has cost around $29 billion, Defense Department Comptroller Jay Hurst told Congress Tuesday, attributing the increase to “updated repair and replacement of equipment cost and also just general operational cost.”

Learn more about your ad choices. Visit megaphone.fm/adchoices

From snack packaging to AI chips, the Iran War's supply chain blockades are causing severe global shortages across consumer and industrial goods.

Calbee, Japan's biggest snack maker, on Tuesday warned its products will switch from their famously colorful packaging to black-and-white labels by the end of the month due to an Iran war-spurred shortage of an ink ingredient, the latest disruption to hit the supply chain due to the conflict in the Middle East.

The packaging change is reportedly due to a shortage of naptha, an ink ingredient derived from petroleum, of which Japan imports 40% of its consumption from the Middle East via the Strait of Hormuz shipping channel that has been closed since the U.S. and Israel attacked Iran at the end of February.

The closure of the strait has caused other shortages around the world, including in India, where a lack of the aluminum needed to make cans has led to a scarcity of Diet Coke and spurred "Diet Coke parties," where the drink is treated as limited-availability item and often sold at significant markups.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Nvidia’s value reached the $5.5 trillion mark for the first time Wednesday, again breaking the record for the highest ever market capitalization in the history of publicly traded companies, as its stock rallied following news that centibillionaire CEO Jensen Huang is joining President Donald Trump’s trip to China.

Nvidia’s market cap reached just over $5.5 trillion as shares surged 3% as of early afternoon.

The rise in shares was accompanied by news that Huang was traveling with Trump to China, where the president will meet with Chinese President Xi Jinping, following earlier reports that said he was not invited.

Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump reportedly invited a group of billionaires—worth a combined $870 billion, according to our estimates—to join him on his trip to China this week to meet Chinese President Xi Jinping, their first summit of Trump’s second term, which comes amid tensions over trade, the war in Iran and the future of artificial intelligence.

Tesla’s Elon Musk, Blackstone’s Stephen Schwarzman, Apple’s Tim Cook, General Electric’s Larry Culp and BlackRock’s Larry Fink are among the billionaires expected to travel to Beijing with Trump, Bloomberg reported, citing an unnamed White House official.

Other high-profile CEOs joining the trip include Boeing’s Kelly Ortberg, Goldman Sachs’ David Solomon and Citigroup’s Jane Fraser, among 17 total executives from U.S. companies reportedly expected to attend the summit.

Learn more about your ad choices. Visit megaphone.fm/adchoices

With the Strait of Hormuz closed for nearly 10 weeks, much of the world is running out of jet fuel and summer vacation plans could be disrupted, energy experts told Forbes.

“It’s not going to be a short-term issue, because it can’t be easily solved,” Matt Smith, director of commodity research at Kpler, the energy data and analytics platform, told Forbes, having likened the jet fuel shortage to a “slow-motion car crash.”

“We’re going to be in crisis mode,” John Gradek, who teaches aviation risk management at McGill University, told Forbes, noting “the industry has never seen this before, where the actual supply of the product needed to support aviation, that pipeline, is drying up.”

Learn more about your ad choices. Visit megaphone.fm/adchoices

The World Health Organization has confirmed dozens of people, including Americans, left the ship upon which a hantavirus outbreak has killed several people and flew home after the death of the first passenger but before they knew they’d been exposed to a contagious and deadly disease.

On Thursday, May 7th, Oceanwide Expeditions, operator of the cruise ship MV Hondius, says at least 29 living passengers from 12 countries disembarked the ship and went home after the death of the first passenger on board. This was before officials knew of the outbreak. 

Those countries are Canada, Denmark, Germany, Netherlands, New Zealand, Switzerland, Sweden, Singapore, Saint Kitts and Nevis, Turkey, United Kingdom and the United States.

Learn more about your ad choices. Visit megaphone.fm/adchoices

FIFA hyped the World Cup as an economic juggernaut for the U.S.—but with five weeks until the tournament kicks off, the hotel industry says advanced bookings in some host cities are on par or lagging any ordinary summer.

Nearly 80% of U.S. hoteliers in 11 World Cup host cities say bookings are tracking below original forecasts, with some describing the tournament as a “non-event,” according to an American Hotel & Lodging Association (AHLA) survey of members released Monday.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The jet fuel crisis was the straw that broke Spirit Airlines’ back, but other budget airlines are also struggling to be profitable and losing market share—a potential warning for cost-conscious travelers, aviation experts tell Forbes.

Low-cost carriers—including Allegiant, Frontier, JetBlue, Southwest, Spirit and Sun Country—combined for 35.5% of market share in February, down from 38.2% a year earlier, according to Cirium data.

Spirit flew 1.7 million passengers in February—a 24% year-over-year drop, per Cirium.

Learn more about your ad choices. Visit megaphone.fm/adchoices