Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023.
Marlena Sloss | Bloomberg | Getty Images
The SEC argued in a letter to the U.S. Court of Appeals for the Second Circuit in New York this week that Tesla CEO Elon Musk still needs a so-called “Twitter sitter,” and that an earlier settlement agreement between them is fully constitutional and valid.
Now a centi-billionaire, Musk in 2018 wrote on Twitter that he had “funding secured” to take his electric vehicle company private for $420 per share, and that “investor support” for such a deal was “confirmed.” Tesla trading halted after his tweets, and the price of shares in the automaker see-sawed for weeks.
When the SEC charged him with civil securities fraud in response to those tweets, Musk and Tesla settled, signing a revised consent decree in 2019. As part of the settlement, Tesla and Musk each agreed to pay $20 million fines, and Musk agreed to relinquish his role as chairman of the board at Tesla for three years.
Among other terms, Musk agreed to a “Twitter sitter,” colloquially speaking. He was supposed to work with a securities lawyer at Tesla who would review and approve his tweets before he posted them in any instance when they may contain material business information about the company.
After they struck this agreement, Elon Musk has repeatedly said that he doesn’t respect the Securities and Exchange Commission (SEC), and in a series of press interviews and depositions suggested that nobody reviews his tweets before he posts them.
Musk and his attorney, Alex Spiro, have argued since their settlement that the SEC effectively intimidated Musk into signing it, and that the terms of even the revised consent decree amount to “unconstitutional” infringement on Musk’s free speech rights.
With the appeal in the Second Circuit, Musk is trying to unwind at least some terms of the earlier SEC settlement agreement.
Earlier this week, Spiro submitted a letter that court in New York saying that a jury verdict in a separate, shareholder class action trial that concluded recently in a San Francisco federal court should be given consideration in the appearl. During the shareholder class action trial, Spiro and Musk convinced jurors that the Tesla CEO did not violate certain securities laws with his tweets in 2018.
In its reply letter this week, the SEC argued that “Musk waived his opportunity to test the Commission’s allegations at trial when he voluntarily agreed (twice) to a consent judgment.”
They also argue that the verdict in San Francisco “says nothing about the continuing public interest in a negotiated settlement term that does not preclude Musk from tweeting accurately about Tesla or other topics, but rather requires Tesla to review Musk’s Tesla-related communications before publication, including through Musk’s Twitter feed — a communication channel designated by Tesla for disclosure.”
The SEC lawyers also questioned whether there is any legal basis to consider undoing the settlement all these years later.
An oral argument for the appeal is slated for some time this spring, but a final date has not been set.
The lawsuit, filed by Musk’s AI startup xAI and its social network business X, alleges Apple and OpenAI have “colluded” to maintain monopolies in the smartphone and generative AI markets.
Musk’s xAI acquired X in March in an all-stock transaction.
It accuses Apple of deprioritizing so-called “super apps” and generative AI chatbot competitors, such as xAI’s Grok, in its App Store rankings, while favoring OpenAI by integrating its ChatGPT chatbot into Apple products.
“In a desperate bid to protect its smartphone monopoly, Apple has joined forces with the company that most benefits from inhibiting competition and innovation in AI: OpenAI, a monopolist in the market for generative AI chatbots,” according to the complaint, which was filed in U.S. District Court for the Northern District of Texas.
An OpenAI spokesperson said in a statement: “This latest filing is consistent with Mr. Musk’s ongoing pattern of harassment.”
Representatives from Apple didn’t immediately respond to a request for comment.
The Tesla CEO launched xAI in 2023 in a bid to compete with OpenAI and other leading chatbot makers.
Read more CNBC tech news
Musk earlier this month threatened to sue Apple for “an unequivocal antitrust violation,” saying in a post on X that the company “is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store.”
After Musk threatened to sue Apple, OpenAI CEO Sam Altman responded: “This is a remarkable claim given what I have heard alleged that Elon does to manipulate X to benefit himself and his own companies and harm his competitors and people he doesn’t like.”
An Apple spokesperson previously said its App Store was designed to be “fair and free of bias,” and that the company features “thousands of apps” using a variety of signals.
Apple last year partnered with OpenAI to integrate ChatGPT into iPhone, iPad, Mac laptop and desktop products.
Several users replied to Musk’s post on X via its Community Notes feature saying that rival chatbot apps such as DeepSeek and Perplexity were ranked No. 1 on the App Store after Apple and OpenAI announced their partnership.
The lawsuit is the latest twist in an ongoing clash between Musk and Altman. Musk co-founded OpenAI alongside Altman in 2015, before leaving the startup in 2018 due to disagreements over OpenAI’s direction.
Musk sued OpenAI and Altman last year, accusing them of breach of contract by putting commercial interests ahead of its original mission to develop AI “for the benefit of humanity broadly.”
In a counter claim, OpenAI has alleged that Musk and xAI engaged in “harassment” through litigation, attacks on social media and in the press, and through a “sham bid” to buy the ChatGPT-maker for $97.4 billion designed to harm the company’s business relationships.
Jensen Huang, CEO of Nvidia, is seen on stage next to a small robot during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025.
Gonzalo Fuentes | Reuters
Nvidia announced Monday that its latest robotics chip module, the Jetson AGX Thor, is now on sale for $3,499 as a developer kit.
The company calls the chip a “robot brain.” The first kits ship next month, Nvidia said last week, and the chips will allow customers to create robots.
After a company uses the developer kit to prototype their robot, Nvidia will sell Thor T5000 modules that can be installed in production-ready robots. If a company needs more than 1,000 Thor chips, Nvidia will charge $2,999 per module.
CEO Jensen Huang has said robotics is the company’s largest growth opportunity outside of artificial intelligence, which has led to the Nvidia’s overall sales more than tripling in the past two years.
“We do not build robots, we do not build cars, but we enable the whole industry with our infrastructure computers and the associated software,” said Deepu Talla, Nvidia’s vice president of robotics and edge AI, on a call with reporters Friday.
The Jetson Thor chips are based on a Blackwell graphics processor, which is Nvidia’s current generation of technology used in its AI chips, as well as its chips for computer games.
Nvidia said that its Jetson Thor chips are 7.5 times faster than its previous generation. That allows them to run generative AI models, including large language models and visual models that can interpret the world around them, which is essential for humanoid robots, Nvidia said. The Jetson Thor chips are equipped with 128GB of memory, which is essential for big AI models.
Companies including Agility Robotics, Amazon, Meta and Boston Dynamics are using its Jetson chips, Nvidia said. Nvidia has also invested in robotics companies such as Field AI.
However, robotics remains a small business for Nvidia, accounting for about 1% of the company’s total revenue, despite the fact that it has launched several new robot chips since 2014. But it’s growing fast.
Nvidia recently combined its business units to group its automotive and robotics divisions into the same line item. That unit reported $567 million in quarterly sales in May, which represented a 72% increase on an annual basis.
The company said its Jetson Thor chips can be used for self-driving cars as well, especially from Chinese brands. Nvidia calls its car chips Drive AGX, and while they are similar to its robotics chips, they run an operating system called Drive OS that’s been tuned for automotive purposes.
Intel’s CEO Lip-Bu Tan speaks at the company’s Annual Manufacturing Technology Conference in San Jose, California, U.S. April 29, 2025.
Laure Andrillon | Reuters
Intel on Monday warned of “adverse reactions” from investors, employees and others to the Trump administration taking a 10% stake in the company, in a filing citing risks involved with the deal.
A key concern area is international sales, with 76% of Intel’s revenue in its last fiscal year coming from outside the U.S., according to the filing with the Securities and Exchange Commission. The company had $53.1 billion in revenue for fiscal year 2024, down 2% from the year prior.
For Intel’s international customers, the company is now directly tied to President Donald Trump‘s ever-shifting tariff and trade policies.
“There could be adverse reactions, immediately or over time, from investors, employees, customers, suppliers, other business or commercial partners, foreign governments or competitors,” the company wrote in the filing. “There may also be litigation related to the transaction or otherwise and increased public or political scrutiny with respect to the Company.”
Intel also said that the potential for a changing political landscape in Washington could challenge or void the deal and create risks to current and future shareholders.
The deal, which was announced Friday, gives the Department of Commerce up to 433.3 million shares of the company, which is dilutive to existing shareholders. The purchase of shares is being funded largely by money already awarded to Intel under President Joe Biden‘s CHIPS Act.
Read more CNBC tech news
Intel has already received $2.2 billion from the program and is set for another $5.7 billion. A separate federal program awarded $3.2 billion, for a total of $11.1 billion, according to a release.
Trump called the agreement “a great Deal for America” and said the building of advanced chips “is fundamental to the future of our Nation.”
Shares of Intel rallied as momentum built toward a deal in August, with the stock up about 25%.
The agreement requires the government to vote with Intel’s board of directors. In the Monday filing, the company noted that the government stake “reduces the voting and other governance rights of stockholders and may limit potential future transactions that may be beneficial to stockholders.”
Furthermore, the company acknowledged in the filing that it has not completed an analysis of all “financial, tax and accounting implications.”
Intel’s tumultuous fiscal year 2024 included the exit of CEO Pat Gelsinger in December after a four-year tenure during which the stock price tanked and the company lost ground to rivals in the artificial intelligence boom.