OpenAI Board Mulls Sam Altman’s Return As Worldcoin (WLD) Recovers From Price Slump

2023-11-20 16:00

According to multiple reports, the board of OpenAI, the company behind ChatGPT, has been in talks with ousted CEO Sam Altman about a return to the company. This development comes following the heavy criticism of the wider tech community on the board’s decision to abruptly fire the Worldcoin founder.

In a shocking statement on Friday, OpenAI announced Altman would be leaving the company, citing a loss of confidence caused by a lack of honesty in the CEO’s exchanges with the board. 

This dismissal was ill-received by many within and outside the OpenAI community. Greg Brockman, the company’s president, was the first to resign in reaction to the board’s decision. 

Since then, three senior staff namely senior staff researcher Szymon Sidor, director of research Jakub Pachoki, and head of preparedness Aleksander Madry, have followed the same route, and there are likely to be more departures. 

OpenAI Board Reneges On Agreement Amid Massive Investor Pressure

As earlier stated, the board at OpenAI has been in discussion with Altman regarding a potential reinstatement as the company’s CEO. This development has been facilitated by not just a heavy dissent among OpenAI staffers but also by strong disapproval by the company’s own investors.

Bloomberg reported on Sunday that Microsoft, alongside other OpenAI investors, has kicked against the board’s shocking decision to remove Sam Altman and is advocating for a quick reinstatement. 

Thrive Capital, the AI company’s second-largest shareholder after Microsoft, has been vocal in its disagreement, as it is yet to issue the funds needed for a tender offer for employee shares at OpenAI. 

Interestingly, a report published a few hours by The Verge states that the OpenAI board and Altman had already sealed an agreement in principle which would result in his return as well as the resignation of all current board members.

However, the board appears to be backing out of this agreement, having missed the set deadline of implementation at 5pm PT. For now, it remains unclear if a reinstatement will occur as more OpenAI staff members prepare to follow the Worldcoin founder out the door. 

Reports indicate that Altman was already working on a new company with plans to launch soon. Meanwhile, Cardano founder Charles Hopkinson has invited the ex-OpenAI boss to work with him on a decentralized large language model (LLM). 

Worldcoin (WLD) Bounces Back After A Brief Decline

Following Altman’s dismissal on Friday, Worldcoin (WLD) experienced a price dip, losing over 12% of its value within 24 hours. However, amidst news of potential reinstatement, altcoin has found its feet, re-embarking on an upward trajectory.

At the time of writing, WLD is up by  25.11% on the last day, trading at a market price of $2.34. The altcoin has shown an overall positive performance in the last week, gaining by 22.37%  within seven days. 

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