This Monday, Microsoft shares rose 1.5% after they announced the hiring of Sam Altman, the recently ousted OpenAI founder, to lead their new advanced AI research team. Sam Altman was removed from his post at OpenAI due to the board’s lack of confidence in him. Greg Brockman, OpenAI’s president, also stepped down as chairman and Mira Murati was appointed interim CEO. Emmett Shear, Twitch’s co-founder, was then named interim CEO while they conduct a search for a permanent hire. Microsoft CEO Satya Nadella expressed his commitment to the partnership with OpenAI and his excitement about the hiring of both Altman and Brockman along with other former OpenAI employees. Meanwhile, Nvidia, another Nasdaq stock, also saw a 0.7% rise in their NVDA shares. This is good news for AI enthusiasts as the company has seen almost 200% share growth in 2023.
This news is good for both OpenAI and Microsoft, as the hiring of Altman and Brockman will bring their experience and knowledge to the new AI research team at Microsoft, while OpenAI’s board is conducting a formal search for a permanent hire. This is also good news for investors, as both MSFT and NVDA stocks saw a rise in their share prices. #Microsoft #OpenAI #AI #Nvidia
You can read more about this topic here: Decrypt: MSFT, NVDA Jump as Microsoft Launches AI Venture With Sam Altman