OpenAI’s $850B Valuation: Can a Potential IPO Save Sam Altman’s Worldcoin?
AI Podcast
OpenAI has secured $122 billion in funding at an $852 billion valuation, preparing for an IPO. Worldcoin, though co-founded by OpenAI CEO Sam Altman, is an independent entity. While OpenAI's models address AI's identity crisis, Worldcoin's World ID offers human verification. Worldcoin faces regulatory scrutiny and a 97% price drop from its peak. An OpenAI IPO could drive demand for World ID integration for AI authentication and provide Sam Altman with greater leverage for Worldcoin, but may also draw capital away from WLD, which faces significant hurdles including regulatory challenges and a lack of a profit model.
TradingKey - OpenAI's valuation continues to soar, while Worldcoin's price has plummeted 97%. Is there still a possibility for a turnaround?
On April 1 local time, OpenAI raised $122 billion at a valuation of $852 billion, completing the largest financing round in the company's history. Reportedly, this funding primarily came from three tech giants—Amazon, Nvidia, and SoftBank—which invested $50 billion, $30 billion, and $30 billion, respectively.
To complete its IPO this year, OpenAI has already streamlined multiple product lines, including its partnership with Disney and Sora video generation. Currently, OpenAI's listing has entered its final sprint, drawing global attention, especially from the Worldcoin ( WLD) community, which is pinning its hopes on OpenAI's listing to "save" Worldcoin. However, what impact will OpenAI's listing actually have on Worldcoin?
What is the relationship between Worldcoin and OpenAI?
Worldcoin and OpenAI do not have a parent-subsidiary relationship; rather, they are two independent entities sharing the same central figure—Sam Altman. Altman is the CEO of OpenAI and also the co-founder and chairman of Worldcoin. In 2019, Altman founded the project with Alex Blania and Max Novendstern. Initially, it was a decentralized identity (DID) project primarily serving AI. In 2024, it underwent a major upgrade, adding public blockchain attributes to its existing foundation, and has since been renamed World Network.
Furthermore, Worldcoin and OpenAI complement each other in the development of AI. The evolution of AI models such as Gemini and ChatGPT could make AI increasingly human-like, leading to an "identity crisis" online where it is difficult to distinguish whether the entity on the other side of the screen is a real person or an AI bot. Worldcoin, through its World ID, provides a way to prove that "you are a human."
What is the market performance of OpenAI and Worldcoin?
Since its inception in 2015, OpenAI's models, such as GPT-5 and Sora, have deeply permeated corporate supply chains. Furthermore, the company has completed multiple rounds of financing, becoming one of the most valuable private companies in the world. In contrast, Worldcoin has encountered obstacles at every turn in its business practices. Regulators in various countries and regions, including Canada and the European Union, have further tightened oversight of its 'biometric data,' meaning Worldcoin must struggle to survive within the gaps of global regulation, facing extremely high barriers to entry.
While Worldcoin is regarded as a 'shadow' of OpenAI, its token performance has been mired in a slump, repeatedly hitting new lows. As of press time, the price of WLD has fallen to $0.26, a 97% plunge from its peak near $12 a year ago; some investors even believe the token could go to zero.
WLD price chart, source: TradingView
What impact would an OpenAI IPO have on Worldcoin?
If OpenAI successfully lists by the end of 2026, it could have the following three core impacts on Worldcoin:
1. A critical turning point from 'narrative' to 'essential demand': As OpenAI launches GPT-5.4 and plans to build a 'unified AI superapp,' the demand to distinguish between 'real humans' and 'AI agents' will peak. Market participants generally expect that after its IPO, OpenAI may officially integrate World ID as a formal authentication method to address regulatory pressure regarding 'AI abuse.'
2. Liquidity 'siphoning' and 'reciprocity': The OpenAI IPO will be the preeminent global financial event of 2026. Substantial capital currently speculating in the AI crypto sector may migrate to the U.S. equities market to subscribe to OpenAI shares, potentially subjecting WLD to short-term liquidity drainage. However, after the listing, Sam Altman’s personal wealth and influence will reach their zenith, providing Worldcoin with more robust lobbying leverage and financial backing to navigate global regulations.
3. The 'anchoring effect' of the valuation ceiling: Upon OpenAI's listing, the market will re-evaluate the 'identity verification' narrative value of Worldcoin, which is Sam Altman's other flagship project. OpenAI's early post-IPO stock performance will directly dictate the short-term price trajectory of WLD.
Conclusion
Despite its strong association with OpenAI providing Worldcoin with a shot-in-the-arm rally, Worldcoin still faces insurmountable hurdles, including a harsh regulatory environment, significant token unlock pressure for WLD, and a lack of a substantive profit model.
