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Worldcoin Surges 46% After Sam Altman Joins OpenAI Board

Worldcoin Surges 46% After Sam Altman Joins OpenAI Board

OpenAI, the research firm behind ChatGPT and Worldcoin, which pioneered generative AI, is at a turning point in its development. CEO Sam Altman returned to the board a few months after being abruptly fired and quickly reinstated, but the fallout from the episode hasn’t ultimately settled. Legal disputes, shifting board composition, and intense competition paint a picture of an organization in transition.

Retries And Changing Directions In Leadership

Shrouded in mystery, Altman’s dismissal in November 2023 shocked the AI community. The then-existing board was the driving force behind the decision, which led to a staff uprising and Microsoft, a significant investor, intervened.

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After a few days, Altman returned to lead, and the board underwent a substantial reorganization. Distinguished individuals such as Fidji Simo, CEO of Instacart, and Sue Desmond-Hellmann, former CEO of the Bill and Melinda Gates Foundation, are among the new hires. This change in leadership highlights a possible shift in OpenAI’s aims, emphasizing experience and a range of viewpoints.

Court Battles Cast A Shadow

However, legal issues continue to overshadow the company’s future. Ex Co-founder of OpenAI Elon Musk has sued, claiming that the company’s initial pledge to remain a nonprofit organization was broken.

The case focuses on Microsoft’s increasing power and ownership of OpenAI’s intellectual property. This raises questions about how businesses could eclipse OpenAI’s goal of developing AI responsibly.

The verdict in these cases may significantly impact OpenAI’s capacity to obtain essential data for research and its ability to conduct business in the future.

Worldcoin maintains a robust weekly price trend.
Worldcoin maintains a robust weekly price trend. Coingecko is the source.

Worldcoin Rises Amid the AI Madness

In the meantime, word of Altman’s return to the OpenAI board sent the price of Worldcoin, a cryptocurrency project with plans to establish a universal basic income system, skyrocketing.

Though it’s unclear how Worldcoin and OpenAI’s difficulties are related, the timing is interesting. Could the recent excitement surrounding AI be causing conjecture to grow in other tech-related fields?

Worldcoin’s trade volume climbed by 198% to $1.35 billion in a single day, while the cryptocurrency has increased by 46% to $10.57 today. Importantly, WLD saw a 40% gain in price over the previous week, along with an almost 340% monthly increase.

At $10.576, worldcoin is now trading.
At $10.576, worldcoin is now trading. Visual Aid: TradingView

Heats Up in Generative AI: OpenAI Faces Rivals

OpenAI continues to be at the forefront of generative AI, a technology that enables machines to produce writing and visuals of human quality despite internal conflict. The outcome of OpenAI’s ChatGPT research is evidence of this ability.

But there’s more competition in the field of AI. Tech behemoths like Meta and Google devote substantial efforts to creating generative AI models.

Moreover, businesses like xAI, supported by Elon Musk, and Anthropic, co-founded by OpenAI exile Ilya Sutskever, fuel the competition. While quick progress is promised in this competition to become the AI superpower, concerns regarding ethical development and possible abuse are also raised.

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