Elon Musk Files Lawsuit Against OpenAI, Affecting Worldcoin's Market Price

Following Elon Musk's legal action against OpenAI and its CEO, Sam Altman, Worldcoin's WLD token saw a 6% decrease in value, falling to $7.5 from a weekly high of $9.3, as per CoinMarketCap. This cryptocurrency, closely linked to Altman, rewards users with tokens for eye scans used for ID verification. The current Worldcoin (WLD) price is $7.69.

Musk's lawsuit, submitted to the Superior Court of California in San Francisco, accuses OpenAI of straying from its initial aim of developing open-source artificial intelligence (AI) for public benefit. He highlighted OpenAI's collaboration with Microsoft as a move away from its founding nonprofit goals. Musk, a co-founder who later stepped back from OpenAI, criticizes the company for prioritizing profit, especially with the release of ChatGPT-4, which he sees as too commercially driven and beneficial mainly to Microsoft. He also mentioned the temporary removal of Altman in November 2023 as proof of the company's shift towards profit-making, aligned with Microsoft's interests. Since becoming a commercial entity in 2020, Musk argues that OpenAI has prioritized profit and speed, neglecting its original mission.

In his lawsuit, Musk lists breaches of contract and fiduciary duty, alongside other legal violations. He demands that OpenAI revert to its open-source ethos and seeks an injunction against the commercial use of AI technology. Musk doubts the current OpenAI board's capability to oversee ethical AI development, despite his ongoing commitment to responsible AI through his new venture, xAI, which aims to develop "curious" AI technologies without hardcoded ethics.