Artificial Intelligence: Sam Altman And The OpenAI Board Discuss His Return (Update: He’s Back With New Board)

The effort is to resolve the impasse before Thanksgiving.

Sam Altman, co-founder and ousted CEO of OpenAI, is currently in negotiations with the company’s interim CEO, Emmett Shear, and board member Adam D’Angelo, for a potential reinstatement, according to undisclosed sources. Talks also involve some of OpenAI’s investors, including Thrive Capital, Khosla Ventures, and Tiger Global Management, who are advocating for Altman’s return. If reinstated, Altman might resume his role as the CEO, and discussions include the possibility of him becoming a director on a transitional board. The involvement of key players like Bret Taylor, former co-CEO of Salesforce Inc., (NYSE: CRM) is being considered.

The negotiations mark a significant shift, as the board had previously avoided communication with Altman after his dismissal. OpenAI shareholders are pushing for resolution before Thanksgiving to alleviate employee uncertainty. The board’s decision to fire Altman, citing a lack of consistent candor in communications, has faced criticism, with no clear explanation provided for his removal. Even Satya Nadella, CEO of Microsoft (NASDAQ: MSFT), the company’s largest investor, claims to be uninformed about the reasons.

Meanwhile, Emmett Shear, in the absence of clear communication from the board, is considering leaving OpenAI. The company’s board composition underwent changes after Altman’s exit, with President Greg Brockman leaving in protest.

Altman is being represented in negotiations by Airbnb Inc. (NASDAQ: ABNB) CEO Brian Chesky, while Shear is representing D’Angelo and the board. The resolution of this situation could have implications for Microsoft’s strategic positioning, considering its significant investment in OpenAI. The company declined to comment on the ongoing negotiations.

However, according to a CNBC report, Microsoft has already begun making preparations for accommodating hundreds of OpenAI employees at its LinkedIn offices in downtown San Francisco, about two miles from OpenAI’s headquarters. It also has human resources and legal staff on standby to handle hiring and onboarding of the staff transitioning out of OpenAI.

Update: Sam Altman is back at OpenAI

OpenAI has reversed its decision to fire CEO Sam Altman, announcing an agreement for his return with a new board. The fresh board includes Bret Taylor as Chair, Larry Summers, and Adam D’Angelo. This development follows Microsoft’s hiring of Altman and OpenAI president Greg Brockman to lead a new AI research team.

Altman’s reinstatement also comes in response to nearly all OpenAI employees threatening to quit unless the board resigned and reinstated him. The previous board cited Altman’s lack of consistent communication, hindering their responsibilities.

Altman expressed his commitment to OpenAI’s mission and a strong partnership with Microsoft. The reshuffle aims to ensure stability, effective governance, and alignment with AI safety goals.

Related Story: OpenAI Employees Turn Up The Heat On Its Board; Threaten Mass Exodus

Photo by Levart_Photographer on Unsplash

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…