Crypto AI Token Market Spikes 11.65% to $9.3B as Sam Altman Confirms Returning as OpenAI CEO

The AI token market has entered a bullish course following confirmation that Sam Altman, the previously ousted CEO of OpenAI, will be reinstated to lead the AI-focused research firm.

The official X handle of the OpenAI team published specific details about Sam Altman’s reinstatement. Alongside, the notification disclosed ongoing restructuring in the OpenAI board of directors.

The statement read:

“We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. We are collaborating to figure out the details. Thank you so much for your patience through this.”

We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.

We are collaborating to figure out the details. Thank you so much for your patience through this.

— OpenAI (@OpenAI) November 22, 2023

Sam Altman Reacts

Sam Altman took to X to express his delight in returning to the OpenAI leadership team. He remarked that he profoundly appreciates OpenAI and that everything he has done in the past few days has been dedicated to preserving the team’s unity and advancing its mission.

i love openai, and everything i’ve done over the past few days has been in service of keeping this team and its mission together. when i decided to join msft on sun evening, it was clear that was the best path for me and the team. with the new board and w satya’s support, i’m…

— Sam Altman (@sama) November 22, 2023

Following his removal from the CEO position last week, Sam Altman noted that he decided to join Microsoft. “It was clear that was the best path for me and the team,” He remarked.

However, with the new board in place at OpenAI and support from Satya Nadella, the Chairman and CEO of Microsoft Corporation, Sam Altman declared he is eager to return to OpenAI.

AI Token Market Takes Impact

Information from the widely recognized market tracker CoinMarketCap indicates that the AI token market has embarked on a notable bullish trajectory, contrasting with the prevailing bearish trends rocking the broader crypto market over the past 24 hours.

Interestingly, the AI token market took a significant bullish turn following these official confirmations about Sam Altman’s return to OpenAI.

Specifically, CoinMarketCap data shows the AI token trajectory market is upward, with a cumulative 11.65% gain within the last 24 hours. The market is now over $9.3 billion despite broader bearish trends affecting the border crypto market.

AI Token Market | CoinMarketCap

AI Tokens leading the pack are Akash Network (AKT) and Fetch.ai (FET ), with 6.37% and 3% gains in 24 hours, alongside 72% and 31% in cumulative seven-day performance.

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