Microsoft rises in premarket after former OpenAI CEO joins to lead new research team

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please review our website policies before making a financial decision.

Just days after being abruptly ousted from the OpenAI board of directors, Sam Altman has joined Microsoft (NASDAQ: MSFT ). According to Monday’s announcement, Mr. Altman will lead a new advanced artificial intelligence research team at the technology company, and will be joined by OpenAI co-founder and former president Greg Brockman.

Microsoft will continue to work with OpenAI

Sam Altman, the former CEO and board member of ChatGPT maker OpenAI, joined Microsoft on Monday to lead a new advanced artificial intelligence research team. OpenAI co-founder and former president Greg Brockman will also join the tech giant.

Microsoft CEO Satya Nadella announced the latest twist in an unexpected saga. Meanwhile, Nadella announced at customers and partners.” Twitter.

Microsoft is OpenAI’s largest investor. After the news was announced, the company’s stock price rose 1.8% before the market opened.

We remain committed to our partnership with OpenAI and are confident in our product roadmap, our ability to continue innovating with everything we announced at Microsoft Ignite, and our ability to continue supporting our customers and partners. We look forward to getting to know Emmett…

— Satya Nadella (@satyanadella) November 20, 2023

Altman retweeted Nadella’s post and added the comment: “The mission continues.”

Ultraman’s expulsion

Microsoft’s hiring of Altman comes just days after the 38-year-old entrepreneur was fired from the board of directors of OpenAI, the company he co-founded and led for the past four years. The details behind the decision remain unclear, although the board said Altman was not “consistently candid” in discussions. However, OpenAI Chief Operating Officer Brad Lightcap said in a note to employees on Saturday that this did not involve “malfeasance.”

Altman spent the weekend launching a pressure campaign against four of OpenAI’s board members, which ultimately led to his ouster. He has strong support from startup investors, employees and OpenAI executives. Prior to their dismissal, the ChatGPT maker had six board members, including Altman and Brockman, who exited the company in solidarity following Altman’s ouster.

OpenAI didn’t tell investors why it was getting rid of Altman. After learning of his firing, several investors began to pressure the board to change its decision. However, shareholders including Microsoft cannot directly influence the initiative due to OpenAI’s atypical structure.

Although the company became a for-profit business, its leadership remained accountable to a nonprofit board of directors. Earlier in the day, OpenAI hired former Twitch boss Emmett Shear as its next CEO.

What do you think is the real reason why Ultraman was ousted? Let us know in the comments below.

About the author

Tim Fries is the co-founder of The Tokenist. He holds a B.Sc. in mechanical engineering from the University of Michigan and an MBA from the University of Chicago Booth School of Business. Tim served as a senior associate on the investment team in RW Baird’s U.S. private equity division and was a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.

Information source: compiled from THETOKENIST by 0x Information.Copyright belongs to the author Tim Fries and may not be reproduced without permission.

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