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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
An unsolicited legal battle is brewing between Elon Musk, the billionaire investor and CEO of Tesla, and OpenAI CEO Sam Altman as the former just filed a lawsuit against the latter.
Per the details of the lawsuit filed, Elon Musk is accusing OpenAI of degenerating into a for-profit entity that is working solely for Microsoft, which the suit called the largest company in the world.
Elon Musk argues that in contradiction to the founding agreement that mandates OpenAI to develop products for the benefit of all humanity, the company is now focused on refining Artificial General Intelligence (AGI) and transforming it into a subsidiary of Microsoft.
Elon Musk has always been critical of developments at OpenAI as he disagrees with some of the organization’s recent updates. The lawsuit went on to allege that OpenAI has a less experienced board, led by Sam Altman, who has reserved an observatory role for Microsoft.
Notably, OpenAI started its operations as a not-for-profit organization, with Elon Musk and Sam Altman among the founding partners. With the launch of ChatGPT, the company started charging users to access its chatbot, a tool that currently dominates the Large Language Model (LLM) scene.
The lawsuit, which was filed in the Superior Court of California in San Francisco County, is demanding a jury trial that might force OpenAI and its CEO to backtrack on some of its operational and revenue generation models.
The impressive uptick in AI tokens over the past few months has been mindblowing. Just today, Fetch.ai (FET) is up by 16.76% to $1.66, with Cardano-linked SingularityNET (AGIX) jumping by 17.76% to $0.8616.
Since the start of the year, the hype surrounding OpenAI has not only led to the growth of these AI-specific tokens but has notably expanded the surge in Worldcoin (WLD). Depending on how this lawsuit unfolds, these tokens might be impacted negatively in the long term.
The impact might bear similarities to XRP, which recorded stunted growth owing to the legal brawl between Ripple Labs and the United States Securities and Exchange Commission (SEC).