OpenAI In Upheaval, Report Says Altman Could Return Amid Board Tensions: Microsoft Hits Record Highs, On Track For Best Year Since 1999
Portfolio Pulse from Piero Cingari
Sam Altman, former president of OpenAI, is considering a return to the company if certain board members resign. This follows tensions after his move to Microsoft Corp. (NASDAQ:MSFT) was announced. OpenAI staff have signed an open letter calling for the board's resignation and Altman's reinstatement. Despite the appointment of Emmett Shear as CEO, the situation is uncertain, with employees boycotting a meeting with Shear. Meanwhile, Microsoft's stock hit a record high, with a 2.3% increase on Monday and a 58% year-to-date performance, potentially its best year since 1999.
November 20, 2023 | 8:40 pm
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Microsoft's stock reached all-time highs with a 2.3% increase on Monday, and its year-to-date performance is up 58%, marking its best year since 1999. The company's silence on the OpenAI situation and its partnership with OpenAI could influence investor sentiment.
The news of Microsoft's stock hitting record highs and its strong year-to-date performance is likely to positively impact investor sentiment in the short term. The ongoing situation with OpenAI, where Microsoft has a significant investment, adds a layer of complexity but does not seem to have negatively affected the stock yet. The potential return of Sam Altman to OpenAI could further strengthen the partnership with Microsoft, which may be viewed positively by investors.
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