Robbie Stonks 🇺🇸

A whole lot of chop today just to be at new all time highs by tomorrow morning. Guess y’all are really still buying puts. You’ll never learn. $SPY $QQQ

Sam Altman told the US Senate under oath "I HAVE NO EQUITY IN OPENAI." He is now set to receive a $10 billion stake in the company he turned from a nonprofit into an $852 billion business. And Elon Musk is taking him to court for it and trial just started in Oakland today. Musk is suing for $150 billion and wants Altman removed from OpenAI. Musk co-founded OpenAI in 2015 as a nonprofit and put in $44 million of the earliest funding. The mission was to build AI safely for humanity, not for profit. After Musk left in 2018, Altman and Brockman created a for profit subsidiary and converted the entire company into an $852 billion for profit entity. They raised $122 billion in their most recent round. An IPO could value them at $1 trillion. Brockman's own diary entry from 2017 is the most damaging evidence. After telling Musk in a meeting that OpenAI would stay nonprofit, Brockman privately wrote "if three months later we're doing b-corp then it was a lie." He also wrote "it would be nice to be making the billions." In a separate message Brockman wrote "this is the only chance we have to get out from Elon" and asked "what will take me to $1 B?" And while running OpenAI as CEO, Altman was quietly building a personal empire that directly benefits from OpenAI's decisions. He tried to get OpenAI to invest $500 million into Helion Energy, a nuclear fusion startup where he is one of the biggest personal investors. Employees rejected it over conflict of interest concerns. OpenAI declined but then signed a power deal with Helion that Helion used to boost its valuation with future investors, directly benefiting Altman's personal stake. He pushed for OpenAI to acquire or take a controlling stake in Stoke Space, a rocket company his family office has invested in. He was chairman of Oklo, a nuclear energy company that went public through his own SPAC. He only stepped down in April 2025 to "avoid conflict of interest" and "open up future deals between OpenAI and Oklo." His personal portfolio includes stakes in over 400 companies worth $2.8 billion. Many of them operate in sectors where OpenAI does business. His salary at OpenAI is $66,000 a year. His real wealth comes from deals he makes on the side while running the company. This is the same CEO who was fired in November 2023 because the board said he was "not consistently candid" about his outside interests. He was reinstated days later. The board members who fired him were all replaced. Musk wants Altman and Brockman removed, the for-profit conversion reversed, and $150 billion sent back to OpenAI's nonprofit foundation. He says he does not want a single dollar for himself. Nine jurors were seated Monday. Musk could take the stand tomorrow. Satya Nadella and former CTO Mira Murati are also expected to testify. If Musk wins, OpenAI's IPO could be killed. If he loses, Altman walks away with $10 billion in equity from a company built on $44 million of someone else's charitable donations.