Microsoft's stock soars high after hiring former OpenAI boss Sam Altman
By MYBRANDBOOK
Microsoft's stock price hit an all-time high on Monday, following former OpenAI CEO Sam Altman joining the Big Tech giant. Shares climbed as much as 2% and the increase added $54 billion of market value to the tech giant and extended its year-to-date stock gain to 57%. The stock rose soon after Microsoft CEO Satya Nadella announced that the company had hired Altman as well as former OpenAI president Greg Brockman.
"We're extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team," Nadella said on X, formerly known as Twitter. "We look forward to moving quickly to provide them with the resources needed for their success."
Altman reshared Nadella's post, adding, "The mission continues."
In a shocking move last Friday, Altman was ousted from OpenAI with the ChatGPT developer's board saying it no longer had "confidence in his ability to continue leading".
The board appeared to consider reversing that decision at the weekend, with Altman sharing a picture of himself at OpenAI's HQ Sunday. Cut it has been reported early Monday that discussions had fallen apart, with former Twitch CEO and cofounder Emmett Shear subsequently named interim CEO.
Microsoft's hiring of Altman will reassure shareholders who were worried he would start a new company and launch a competitor to ChatGPT. Microsoft is OpenAI's largest shareholder and has incorporated the intelligent language tool into its search engine, Bing.
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
JUVAS SOLUTIONS PVT. LTD.
STERLITE TECHNOLOGIES LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
NUMERIC INDIA, A Group Brand Legrand
Technology Icons Of India 2023: Rishad Premji
Rishad Premji is the son of the Wipro head Azim Premji and was named a...
Technology Icons Of India 2023: Byju Raveendran
Byju Raveendran is the founder of edutech start-up Byju’s. Raveendra...
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
INGRAM MICRO INDIA PVT. LTD.
Ingram Micro India, a large national distributor offers a comprehensiv...
REDINGTON INDIA LIMITED
Redington (India) Limited operates in the IT product distribution busi...