AI tokens gain traction as Sam Altman heads back to OpenAI

Nov 22, 2023 at 10:01 AM UTC

Edited by Dorian Batycka

Markets

AI tokens gain traction as Sam Altman heads back to OpenAI

AI tokens have been rising since the announcement of Sam Altman’s return to OpenAI as the company’s CEO.

According to data provided by CoinGecko, the AI tokens category rose by around $50 million in the past few hours — rising from $6.45 billion at around 06:00 UTC to $6.5 billion at the time of writing.

The total 24-hour trading volume for the AI category has reached $793 million, per CoinGecko data.

The rise comes after OpenAI announced the return of Altman with a new board of Bret Taylor, Larry Summers, and Adam D’Angelo. The new agreement between Altman and OpenAI comes while the CEO had offers from Cardano and Microsoft.

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

In addition, OpenAI’s co-founder Greg Brockman also announced his return to the company along with Altman on X.

Returning to OpenAI & getting back to coding tonight.
— Greg Brockman (@gdb) November 22, 2023

As the two return to OpenAI, the majority of the AI tokens show a short return. The top gainer in the category is Cindicator (CND) with a 55% rise over the past 24 hours, per CoinGecko.

AI tokens gain traction as Sam Altman heads back to OpenAI - 2 — Top AI tokens – Nov. 22 | Source: CoinGecko

According to CoinGecko, Render (RNDR), Fetch.ai (FET), and Akash Network (AKT) are among the top AI tokens to stage a recovery over the past hour. AKT registered the most gains in the past hour, 1.5%, followed by FET, 0.6%, and RNDR 0.4%.