The dismissal of CEO Sam Altman, the CEO of ChatGPT maker OpenAI, and the possibility of his quick return have sent shockwaves across the fraternity. After his ouster on Friday, the firm’s investors quickly jumped in to do damage control, urging the board to reinstate Altman over the weekend. However, Altman has demanded a change in board and governance structure before returning as CEO. Some of the names cropping up in discussions between Altman and the board at Sunday’s meeting include Bret Taylor, ex-CEO of Salesforce (NASDAQ:CRM), CEO Brian Chesky of Airbnb (NASDAQ:ABNB), and Laurene Powell Jobs, founder of Emerson Collective.
Interestingly, Altman has already begun mulling over starting a new artificial intelligence (AI) venture in association with his OpenAI loyalists in case the negotiations with the firm fail. Some reports suggest that Altman’s ouster was connected to his power struggle with OpenAI’s chief scientist, Ilya Sutskever. Moreover, some suggest that Altman’s efforts to float another start-up with ex-Apple (NASDAQ: AAPL) executive Sir Jony Ive to manufacture AI-based hardware conflicted with his current duties. Whatever the reason, Altman seems to have the upper hand on the bargaining table currently, and news of his reinstatement could break in as early as Monday morning.
Current Status of OpenAI and Altman
On Friday, November 17, the board of directors at OpenAI ousted Altman, citing his failure to be “candid in his communications.” This was followed by an upheaval in the company, including the departure of president Greg Brockman and a few Altman loyalists. OpenAI’s major investors, including 49% stake owner Microsoft (NASDAQ:MSFT), investment firm Tiger Global Management, venture firm Thrive Capital, and employees, are pushing for Altman’s return.
OpenAI’s existing board now consists of only four directors, including Sutskever, former Facebook executive Adam D’Angelo; adjunct senior management scientist at Rand, Tasha McCauley, and director at Washington nonprofit Helen Toner.
Who is the Biggest Competitor of ChatGPT?
Microsoft’s roughly $10 billion investment in OpenAI remains challenged in the absence of Altman’s return. Other tech companies who are trying to disrupt the market with their own versions of generative AI could take the lead from OpenAI’s shakeup.
Let us see how some of the listed players in the ChatGPT space perform based on the TipRanks Stock Comparison tool.
