Sam Altman's return to OpenAI causes Worldcoin's rise
Sam Altman's return to OpenAI causes Worldcoin's rise
The scandal surrounding the high-profile departure of OpenAI CEO Sam Altman came to an abrupt end, and the company turned it to its advantage.
The price of Worldcoin (WLD) soared on the news that Altman intended to return to OpenAI. The flurry of trading activity was reflected in the value of WLD, which jumped 13% on November 22.
Sam Altman was fired from his position as the company's CEO on November 17, causing turmoil in the AI industry. The reason for his departure was reportedly due to tensions with members of the original board of directors. Altman, on the contrary, wanted to push AI development more aggressively. Microsoft, although one of OpenAI's investors, immediately invited Altman to join its board. With him, 500 of OpenAI's 770 employees promised to leave, forcing the company to take emergency measures.
According to OpenAI's statement, Sam Altman will once again lead the company. In addition, the board of directors will include Bret Taylor as chairman, Larry Summers, and Adam D'Angelo. At this time, the terms and details of the company's next steps are still being debated.
"We are discussing the details," commented an OpenAI representative.
Following preliminary information about the deal, Sam Altman confirmed it in a post on X: "I love OpenAI, and everything I've done over the past few days has been focused on keeping this team and its mission together.
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He added that when he decided to join Microsoft on Sunday, "it was clear that this was the best path for me and the team".
Altman's return to OpenAI was met with a meteoric rise in WLD, which jumped 13% from $2.20 to around $2.46.
Prior to that, the token had fallen as low as $1.84 in reaction to Altman's resignation.
Also read: Coinbase may become the leader of the cryptocurrency market.
