Microsoft shares set new record after signing former OpenAI CEO Sam Altman

Altman responded to Microsoft President Satya Nadella’s announcement with a brief “the mission continues.”

Stocks of the tech giant Microsoft They rose almost 2% after the opening of Wall Street until reaching a new intraday maximum price of $377.10.

This, after the formation of the multinational Sam Altman co-founder of OpenAI and until last Friday CEO of the company responsible for ChatGPT, lead a new advanced research team Artificial intelligence .

However, at the end of the first hour of trading on the Nasdaq electronic market, Microsoft shares were trading up 0.73%, at $372.54, which represents an increase of more than $20 billion in the company’s market capitalization compared to last Friday .

In a publication on his official profile on the social network the president and CEO of Microsoft, Satya Nadella announced the incorporation of Sam Altman into the company, who was fired last Friday as general manager of OpenAI and until this Sunday rumors were circulating about a possible return to the company .

Sam Altman and Greg Brockman, along with their colleagues, will join Microsoft to lead a new advanced AI research team. “, confirmed Nadella, expressing his hope that the company could provide them with the resources necessary for their success.

Via the same social network, Sam Altman responded to Nadella’s announcement with a brief “the mission continues” .

The relationship between Microsoft and OpenAI

Regarding OpenAI, Microsoft’s top executive stressed that the Redmond company remains committed to its partnership and maintains confidence in the product roadmap, as well as its ability to continue to innovate. .

We look forward to meeting and working with Emmett Shear and the new OAI leadership team. “, he emphasized.

Last January, Microsoft announced a “multi-billion dollar” multi-year investment in the third phase of its long-term partnership with OpenAI to accelerate progress in AI. .

The agreement follows previous investments in 2019 and 2021 and extends the collaboration between the two companies across Research in AI and supercomputing enabling everyone to independently commercialize the resulting advanced AI technologies.

Who is the new CEO of OpenAI?

On another side, The OpenAI Board of Directors has decided to appoint Emmett Shear as interim CEO of the company. co-founder and former CEO of Twitch, which closed the door to the return of Sam Altman to the management of the company which created ChatGPT, after his resignation last Friday .

According to The Information, despite the discussions that took place on this subject over the weekend, Sam Altman’s return as CEO of OpenAI, a startup he co-founded in 2015, has not materialized, and in his place Emmett Shear, co-founder of Amazon-owned Twitch, will assume the role. position of interim CEO. “, he would have informed the staff. “Ilya Sutskever, co-founder and director of OpenAI .

In this way, Shear would become OpenAI’s second interim CEO in just three days, after the board initially replaced Altman with chief technology officer Mira Murati on Friday. although OpenAI’s major investors, including Microsoft, and dozens of employees rallied to Altman’s side over the weekend in a bid to reinstate him as CEO.

In this direction, Altman himself published this Sunday on his profile on the social network which indicated his desire either to return to management of the company or not to return.

Why Sam Altman left OpenAI according to the company

OpenAI announced last Friday the “exit” of Sam Altman as CEO and board member alleging a loss of trust on the part of the board and claiming that Altman “has not been consistently honest in his communications” with this body.

Something which, they pointed out, “impaired his ability to exercise his responsibilities” .

Mr. Altman’s departure follows a deliberative review process conducted by the Board, which concluded that he had not always been candid in his communications with the Board, which adversely affected his ability to perform his responsibilities. The board no longer has confidence in his ability to continue leading OpenAI », Indicates the press release.

Source: Latercera


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