Welcome to the latest edition of Equity, where we bring you the most important news in the world of startups and venture capital. Today’s highlights include OpenAI’s response to Elon Musk’s lawsuit and Monzo’s successful fundraising round.
Key Takeaway
OpenAI has responded to Elon Musk's lawsuit with compelling evidence, while Monzo's significant fundraising success reflects a positive trend in the fintech industry.
OpenAI Fires Back at Musk
- OpenAI, a prominent AI research lab, has issued a strong rebuttal to Elon Musk’s legal action against the company.
- The dispute revolves around allegations that Musk sought to take control of OpenAI’s for-profit division.
- The company has presented evidence to support its claim that Musk had expressed a desire to oversee the for-profit arm, adding an intriguing twist to the ongoing legal battle.
Monzo Raises Megaround
- Monzo, a leading fintech firm, has successfully secured a substantial amount of funding in its latest investment round.
- This achievement serves as a positive indicator that the fintech sector is rebounding from a challenging period, signaling renewed confidence and interest from investors.
