• Fri. Dec 1st, 2023

Microsoft Stock Surges on Wall Street Due to Sam Altman’s Influence


Nov 21, 2023

Microsoft has made a new record on Wall Street opening with the arrival of the co-founder and former number one of OpenAI, Sam Altman. The company rose 1.6% in early trading and is now trading around 1% after the new twist in the world of artificial intelligence.

Microsoft has announced the hiring of Sam Altman, co-founder and former number one of OpenAI, who was dismissed last Friday. Shortly after, Emmett Shear announced that he had accepted the position as OpenAI’s interim number one.

Sam Altman and Greg Brockman, both co-founders of OpenAI, will join Microsoft to lead a new artificial intelligence research team. According to CEO Satya Nadella, they will continue their partnership with OpenAI and be confident in their roadmap for their product. He added that Microsoft has invested several billion dollars in computing technologies needed for OpenAI and integrated this technology into their own products such as Bing search engine.

Emmett Shear stated that his decision was made “in a matter of hours” and that he believed that OpenAI is one of the most important companies in existence today. He added that he accepted this position because he believed that the Board of Directors informed him about the situation and asked him to take on this role without making it lightly. Shear plans to launch an independent investigation within 30 days to shed light on Sam Altman’s firing and the upheaval within the start-up.

These announcements come after a tumultuous weekend when OpenAI’s board of directors unexpectedly fired Sam Altman following a deliberative review process by the board which concluded that it was not always blunt in his communications impeding his ability to fulfill his responsibilities

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