Elon Musk opposed a proposal to launch an initial coin offering (ICO) for OpenAI in 2018, citing concerns over its impact on the company’s credibility, according to newly released court documents.
Musk’s Opposition to OpenAI’s ICO
Amid ongoing legal disputes between Musk and OpenAI, court filings from November 14 reveal discussions between Musk, Sam Altman, and Greg Brockman about ways to improve OpenAI’s profitability. Both Altman and Brockman reportedly supported launching a cryptocurrency through an ICO.
However, Musk rejected the idea, arguing it could damage OpenAI’s reputation as a credible leader in generative AI development. The filing quoted Musk as saying the move would “result in a massive loss of credibility for OpenAI and everyone associated with the ICO.”
The Legal Battle Between Musk and OpenAI
Musk, once a central figure on OpenAI’s board, left the organization in 2018 due to disagreements about its direction. His departure marked a turning point as the company shifted its focus toward the commercialization of generative AI technologies, including the groundbreaking ChatGPT.
In August 2023, Musk filed a lawsuit against OpenAI and recently amended the case, intensifying the legal conflict between the two sides. These newly surfaced details provide a glimpse into the internal debates that shaped OpenAI’s trajectory.
Altman and Cryptocurrency Ventures
Although OpenAI has not launched its own token, Altman pursued cryptocurrency independently through his Worldcoin project in 2023. This initiative, which includes its own digital token, contrasts with the restraint shown by OpenAI in steering clear of ICOs.
Since Musk’s departure, OpenAI has become a transformative force in the tech industry. The success of ChatGPT has not only fueled a generative AI boom but also inspired competitors to accelerate their own AI development efforts.
