Amid ongoing drama surrounding artificial intelligence (AI) company OpenAI and its co-founder Sam Altman, the biometric cryptocurrency Worldcoin (WDC) has suffered a nearly 5% drop.
Reports suggest that Altman, the former executive of OpenAI, will be joining Microsoft, and many employees of OpenAI are considering following him to his new venture.
OpenAI Board Faces Staff Rebellion
According to CNBC, OpenAI’s board announced on Friday that Altman would be removed from his position and temporarily replaced by technology chief Mira Murati. However, late Sunday night, OpenAI revealed that former Twitch CEO Emmett Shear would be taking over as the head of the company.
Hours later, the situation took another turn when Microsoft CEO Satya Nadella announced that Altman and Greg Brockman, the former OpenAI president and board chair, would be absorbed into the Microsoft team. Nadella stated that Altman would lead a new advanced AI research team at Microsoft.
Microsoft has made significant investments in OpenAI and maintains a close technology partnership. Nadella expressed confidence in the partnership, promising to provide the necessary resources for the success of the newly formed research team.
Now, in the wake of these developments, a report by Watcher Guru reveals that 75% of OpenAI staff have signed a letter threatening to join Altman’s new AI venture at Microsoft. The request stems from the employees’ displeasure with OpenAI’s board over the controversial removal of Altman.
According to Watcher Guru’s report, over 500 employees representing most of the workforce signed the protest letter. The letter accuses the board of being incapable of effectively overseeing the company and suggests that Microsoft would offer jobs to those who choose to resign.
Notably, senior executives such as former interim CEO Mira Murati and COO Brad Lightcap are said to be among the signatories. This support highlights deep internal divisions within OpenAI regarding the company’s direction.
WDC Faces Uncertainty As Altman’s Departure Sparks Price Plunge
As mentioned above, the news of Altman’s departure and the potential staff exodus significantly impacted Worldcoin, which experienced a drop of nearly 5%.
As seen in the chart above, the controversial cryptocurrency experienced a sharp drop from $2.70 after rumors of Altman’s move to Microsoft were announced. WDC dropped as low as $2.24 on Monday.
Given recent developments, it remains to be seen how WDC will hold up and whether it will recover before testing lower support lines.
As OpenAI’s board undergoes a shake-up and the potential departure of a significant portion of its workforce looms, the company must address the concerns its employees raise and work towards a resolution that ensures stability and maintains its commitment to advancing AI technology.
Featured image from Shutterstock, chart from TradingView.com