Apple sues OpenAI as chips and model launches dominate AI news

Apple filed suit against OpenAI in Northern California federal court on July 11, 2026, alleging trade secret theft tied to more than 400 former Apple employees now working at OpenAI. OpenAI is also preparing a confidential IPO filing with Goldman Sachs and Morgan Stanley for a possible September 2026 debut at a private-market valuation around $730 billion, while Anthropic reportedly leads revenue at roughly $47 billion annualized versus OpenAI’s projected $25 to $33 billion for 2026.

Developers are sorting through OpenAI’s GPT-5.6 lineup, with Terra emerging as the value option, Sol leading benchmarks and Luna handling lower-cost workloads. Sol served on Cerebras hardware is hitting 750 tokens per second, while Google DeepMind’s Gemini 3.5 Pro is expected for general availability on July 17, 2026, with a 2-million-token context window, Deep Think behind the $250 per month Ultra tier and expected API pricing around $1.25 input and $10 output per million tokens.

AI infrastructure remained the market’s strongest theme. SK Hynix began Nasdaq trading under SKHY after a $28 to $29 billion ADR offering priced at $149 to $166 per share, Nvidia moved back above $5 trillion, and Meta outlined plans to double compute capacity by 2027 while investing $10 billion in a 1-gigawatt Canadian data center. Meta also plans September 2026 production for its Iris AI chip.

Policy and public-sector adoption accelerated as the US cleared license-free AI chip exports to the UAE, the Federal Reserve appointed Marc Andreessen to co-lead a new AI task force, and HHS said it will use ChatGPT to examine audit reports from all 50 states across roughly $2.1 trillion in annual Medicare and Medicaid spending.