02:06:22 EDT Sun 19 May 2024
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Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 11,400,000
Close 2023-11-23 C$ 28.15
Market Cap C$ 320,910,000
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FP/wire say Microsoft scores a victory at OpenAI

2023-11-23 08:45 ET - In the News

The Financial Post reports in its Thursday, Nov. 23, edition that OpenAI will bring back Sam Altman and overhaul its board with new directors, a stunning reversal in a drama that has transfixed Silicon Valley and the global AI industry. A Bloomberg dispatch to the Post reports that Mr. Altman is returning as chief executive officer and the initial board will be led by Bret Taylor, a former co-CEO of Salesforce. The other directors are Larry Summers, the former U.S. Treasury Secretary, and existing member Adam D'Angelo, the co-founder and CEO of Quora. OpenAI is now working "to figure out the details," the company said in a post on X. The decision to restore Mr. Altman to OpenAI marks a significant victory for Microsoft, which worked with fellow investors to reverse Mr. Altman's firing. Microsoft CEO Satya Nadella publicly supported Mr. Altman throughout the turmoil and briefly agreed to hire him at the tech giant to start a new in-house research group. An unnamed source says the reworked OpenAI board will not be final, its main priority is to select up to nine new directors. Board composition proved to be a major sticking point in negotiations for Mr. Altman's return after his shocking ouster on Friday.

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