Apple is reportedly suing OpenAI for misappropriation of trade secrets related to consumer hardware development, a move that highlights the data sovereignty value proposition of Palantir ($PLTR). OpenAI currently represents a significant portion of the Remaining Performance Obligations (RPO) for both Oracle and Microsoft. The author expresses a bearish outlook on OpenAI's hardware ambitions compared to the iPhone and suggests the company's valuation would be down 25% if it were currently public.