Microsoft’s shares surged by 1.5% on Monday after the notice that they have hired Sam Altman, the founder of OpenAI, to lead their advanced A.I. research team. This hiring came just days after Altman was ousted from his role at OpenAI after the board lost confidence in his communication and leadership skills.
And once the markets opened, MSFT saw a 1.5% rise in the first 10 minutes, with the stock closing at $369.67 the previous Friday, and growing to $375.31 during pre-market trading.
Leadership changes at OpenAI
Altman’s departure from OpenAI likewise prompted the resignation of board chairman Greg Brockman and a letter signed by 500 employees demanding the board’s resignation. Twitch co- founder Emmett Shear was appointed as interim CEO, and Microsoft CEO Satya Nadella expressed continued commitment to the business relationship with OpenAI.
Nvidia, another major player in A.I. technology, saw a 0.7% increase in its shares prior to the market opening on Monday. The company’s focus on A.I. has led to whole lot of growth in its share prices.
Hot Take: A.I. industry shakes with Microsoft’s hiring of Sam Altman
Microsoft’s hiring of Sam Altman represents a whole lot of shift in the A.I. industry. Altman’s departure from OpenAI, along with the ripple effects within the company, has caused a shakeup in the industry and sparked investor enthusiasm. As the A.I. landscape continues to evolve, the hiring of top talent like Altman signals an exciting phase of growth and development, not just for Microsoft, but for the entire A.I. sector.
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