By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Investing > Sam Altman Is Fired as OpenAI CEO
Investing

Sam Altman Is Fired as OpenAI CEO

News Room
Last updated: 2023/11/18 at 4:10 PM
By News Room
Share
5 Min Read
SHARE

OpenAI announced Friday afternoon that CEO Sam Altman has departed the company, saying the executive “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”

In a blog post disclosing Altman’s ouster, the company added that “the board no longer has confidence in his ability to continue leading OpenAI.” The company did not immediately provide details on how Altman may have misled its board.

Chief technology officer Mira Murati was appointed interim CEO.

OpenAI President Greg Brockman said he had decided to leave the company, as well, apparently in response to Altman’s firing by the board.

In a post on X, formerly Twitter, Altman wrote: “I loved my time at OpenAI. It was transformative for me personally, and hopefully the world a little bit. Most of all i loved working with such talented people. Will have more to say about what’s next later.”

A few hours after the news about Altman’s firing, Brockman announced on X that he was leaving in response . “I’m super proud of what we’ve all built together since starting in my apartment 8 years ago,” Brockman wrote in a memo to OpenAI staff that he posted online. “But based on today’s news I quit. Genuinely wishing you all nothing but the best.”

Microsoft,
which is the largest investor in OpenAI, provided a statement on the news, but did not directly address the reasons for Altman’s departure.

”We have a long-term partnership with OpenAI and Microsoft remains committed to Mira and their team as we bring this next era of AI to our customers,” a spokesperson for Microsoft said.

Microsoft shares fell slightly after the Altman news became public around 3:30 p.m. Friday. The stock closed down 1.7%.

“This is a shocker and Altman was a key ingredient in the recipe for success of OpenAI,” says Dan Ives, who covers Microsoft and other tech firms for Wedbush Securities. “That said, we believe Microsoft and [its CEO Satya] Nadella will exert more control at OpenAI going forward with Altman gone.”

OpenAI had earlier in the day said that Brockman was stepping down as chairman of the company, but that he would remain in his current role as President. Brockman subsequently decided not to stay.

OpenAI’s board members include the company’s chief scientist, Ilya Sutskever, along with three independent directors, Quora CEO Adam D’Angelo; Helen Toner, Director of Strategy and Foundational Research Grants at the Georgetown Center for Security and Emerging Technology, and Tasha McCauley, a robotics engineer and entrepreneur. None of the directors responded to requests for comment.

OpenAI noted in its blog post that Murati has been part of OpenAI’s leadership team for five years. “She brings a unique skill set, understanding of the company’s values, operations, and business, and already leads the company’s research, product, and safety functions,” the company said.

“Given her long tenure and close engagement with all aspects of the company, including her experience in AI governance and policy, the board believes she is uniquely qualified for the role and anticipates a seamless transition while it conducts a formal search for a permanent CEO.”

OpenAI did not immediately respond to a request for further comment on the announcement.

Altman co-founded OpenAI in 2015 with the incubator Y Combinator, Brockman, investor Peter Thiel,
Tesla
CEO Elon Musk, Y Combinator co-founder Jessica Livingston, and the IT services company
Infosys.
Originally created as a non-profit, OpenAI transitioned to a for-profit business in 2019. Altman previously served in various roles at Y Combinator, including President and Chairman.

Write to Eric J. Savitz at [email protected] and Tae Kim at [email protected]



Read the full article here

News Room November 18, 2023 November 18, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Trump admin. invests in chip manufacturer xLight, why small-cap stocks are entering a ‘sweet spot’

Watch full video on YouTube

Inside America’s Race To Build The Next Generation Of AI Chips

Watch full video on YouTube

WD-40 Stock: The Valuation Rests Like Rust On The Stock — Sell (NASDAQ:WDFC)

This article was written byFollowAlways on the hunt for undervalued, promising stocks…

European investors must brace for a year of geopolitical instability

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

China factory activity returns to growth after record contraction

Stay informed with free updatesSimply sign up to the Chinese economy myFT…

- Advertisement -
Ad imageAd image

You Might Also Like

Investing

Nursing Home Stocks Could Suffer from this Medicaid Spending Remedy

By News Room
Investing

Bitcoin Drops Below $90,000 Again. What Could Move It Next.

By News Room
Investing

These Stocks Are Moving the Most Today: Marvell, Nvidia, Broadcom, GM, Tesla, MongoDB, Burlington, and More

By News Room
Investing

Nvidia Stock Falls as Marvell Earnings Compound AI Gloom. The Rising Risks for Chips.

By News Room
Investing

This analyst says Tesla deliveries will be 16% below expectations. Musk is part of the problem.

By News Room
Investing

BP CEO was awarded no bonus pay from oil giant’s financial performance

By News Room
Investing

Shares of Starlink’s European competitor have tripled. CEO says it can do the job in Ukraine.

By News Room
Investing

GE Vernova Stock Rises as Analyst Flips to Upgrade After Rating Cut

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?