The Worldcoin token loses 2.2% in response to Elon Musk’s lawsuit against OpenAI
The WLD token dropped by 2.2% within an hour this Friday morning, following the disclosure of a lawsuit filed against OpenAI by Elon Musk before rebounding. Elon Musk, owner of the social networking platform X (formerly Twitter), accuses the company OpenAI and its CEO and co-founder, Sam Altman, of breach of contract.
According to Musk, contractual agreements established when OpenAI was founded in 2015 have been violated. In fact, Elon claims that Altman and co-founder Greg Brockman initially approached him to create an open-source and nonprofit organization, but that the startup created in 2015 is now profit-oriented.
Elon Musk was one of the first investors in OpenAI. Musk, who met Altman before the creation of OpenAI, invested in the company to contribute to the development of artificial intelligence in a way that does not harm humans in the long term. However, Musk left the company in 2018 and also divested his stake in the company.
Musk wanted OpenAI, which he believed was falling behind Google, to be part of Tesla. This idea was rejected by the OpenAI team, and Musk left the company. Altman then took over the company, and Musk started building a rival AI team to work on autonomous driving for Tesla cars.
Walter Isaacson
Worldcoin and OpenAI: A Controversial Convergence
At the heart of this case lies a convergence between the futuristic ambitions of OpenAI and those of Worldcoin, a controversial project aiming to scan the iris of every individual in exchange for a digital identity and tokens. Altman, both CEO of OpenAI and co-creator of Worldcoin, finds himself in the midst of a media and financial storm.
The context of this case is even more complex because Microsoft announced in January 2023 an investment of several billion dollars over several years in OpenAI, with the goal of ‘accelerating breakthroughs in AI so that these benefits are widely shared with the world.’ This investment highlights the growing importance of AI in the global technology ecosystem, even though Microsoft does not hold a direct stake in OpenAI.
The Impact on AI Tokens
Last year demonstrated that AI-related tokens are significantly responsive to major industry developments. In February, several AI tokens experienced a surge after Nvidia exceeded fourth-quarter revenue estimates, and OpenAI launched a new text-to-video product.
The lawsuit aims to ensure that OpenAI remains true to its original vision of benefiting all of humanity.
