Wall Street Breakfast Podcast: Apple Alleges AI Heist

Apple (AAPL) sues OpenAI and former employees for alleged theft of confidential hardware designs and unreleased technology trade secrets. Hyundai (HYMTF) faces a three-day partial strike, risking $12M/hour in production losses as workers demand higher wages and job protections. The Cheesecake Factory (CAKE) receives a Buy rating and $90 price target from Citi Research, citing digital initiatives and improved traffic outlook. SK Hynix (SKHYV) shares drop 10% post-Nasdaq ADR debut, as investors lock in profits after a record-breaking $26.5B listing. Apple (AAPL) filed a civil suit against OpenAI and former employees for misappropriation of trade secrets on Friday. The case comes as OpenAI is also in the midst of pursuing its own line of AI-powered devices. Apple alleged OpenAI used former and current Apple employees to steal confidential hardware designs and confidential information of unreleased technologies, processes and products. It also alleges that the misconduct was orchestrated by OpenAI's leadership. Apple is seeking an injunction to prevent two former employees from destroying any evidence and to return all confidential information. The company is also suing for monetary damages related to the alleged thefts. This story took a twisted turn over the weekend when Elon Musk jumped in. He called Sam Altman “Scam Altman” again. Altman fired back saying ″[T]here are a lot of benchmarks that suggest 5.6 sol is the best model in the world right now, but the most reliable way to tell is that elon is obsessed with me again,” Altman wrote on X. 5.6 sol is OpenAI’s new model. Hyundai Motor (HYMTF) workers began a three-day partial strike on Monday after wage.