ALBAWABA – Microsoft’s stocks reached record highs on Monday following the appointment of Sam Altman, the former CEO of OpenAI, as the head of the artificial intelligence innovation division.
The technology giant’s shares rose to around $377.18, according to the latest Refinitiv data, compared to the opening value of $377.10 on the same day. Microsoft is the largest shareholder in OpenAI, having invested $13 billion in the company.
Altman’s appointment put an end to days of speculation about the controversially ousted former CEO of OpenAI returning to the company. Microsoft, a financial supporter of the startup, is also seeking to bring in Greg Brockman, one of the founding partners of OpenAI who resigned following Altman’s dismissal.
In response, OpenAI appointed Emad Sher, the former CEO of Amazon’s livestreaming service Twitch, as interim CEO. Sher expressed that this role is a unique opportunity, emphasizing the significance of OpenAI as one of the most important companies of the present.
Regarding Altman’s dismissal, informed sources revealed that the dispute with the board centered on his desire to accelerate artificial intelligence development, while the management preferred a cautious approach to the process.
The dismissal coincides with the company securing billions of dollars in investments from Microsoft as part of a partnership to deploy a chatbot-like tool via Microsoft’s search engine, Bing. Meanwhile, discussions are ongoing between OpenAI officials and iPhone designer Jony Ive to secure a billion-dollar funding from SoftBank’s Japanese tech group for designing an artificial intelligence device to replace smartphones.
OpenAI, under the temporary leadership of Mira Murati, Chief Technology Officer, before the appointment of Sher, faces uncertainties. Sher, at forty years old, believes that even if artificial intelligence does not surpass human intelligence, it could corrupt in a similar way to human intelligence.
As the dramatic events unfolded, drawing comparisons to a “Game of Thrones” storyline over the weekend, questions abound about Altman’s fate.
The astonishing developments of the past sixty hours raise profound questions about the future of the company. OpenAI, credited with bringing the world AI like GPT, sparked a global debate on the promise and perils of generative artificial intelligence.
OpenAI may face further risks as Sher navigates a board that allegedly contributed to the crisis, laying the groundwork for the company’s potential collapse. While pledging to investigate the events leading to Altman’s dismissal, Sher must reunite the team, globally rebrand the company, and salvage its position as a leading developer of artificial intelligence in an industry undergoing radical change with Altman’s departure.
Despite Sher’s fame for launching a social media company acquired by Amazon in 2014 for $970 million, his future within the company remains uncertain, especially with the rise of Microsoft stocks that could benefit from Altman’s insights.
With Altman and his allies now internally working within Microsoft, Sher or anyone succeeding him as the permanent CEO of OpenAI may face a perpetual shadow