OpenAI Shake-Up : Will It Derail Microsoft’s AI Momentum?
CEO Sam Altman of Microsoft-backed artificial intelligence startup OpenAI resigned late Friday, with the board stating that they “no longer has confidence in his ability” to continue in his role. Improving client gains at Microsoft’s cloud computing division has boosted MSFT shares, thanks to expanding links with OpenAI.
“Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities,” the business wrote on its website.
In the interim, Chief Technology Officer Mira Murati will take over for Altman. Greg Brockman, co-founder and president of OpenAI, will be staying on as a company president after stepping down as board chair, according to the announcement. On the other hand, Brockman revealed his own departure from the firm in a subsequent social media post.
An AI Boost Causes MSFT Stock to Soar in 2023
A landmark year for OpenAI comes to a close with the news of Altman’s departure. Launching ChatGPT in November 2022, the startup stunned the tech industry. An AI frenzy ensued as the chatbot became an immediate sensation.
“The implications of this earthquake in Silicon Valley are being felt across the tech landscape as Altman is the golden child of the AI world and a key to getting ChatGPT and OpenAI to its current state,” said Daniel Ives, an analyst at Wedbush. “(Altman) now goes from a friend to a potential foe for Microsoft and CEO (Satya) Nadella which were on the outside looking in last night when this news broke.”
“From an OpenAI board/company perspective, we anticipate more disruption over the coming months, and we anticipate Microsoft to exert more control over OpenAI given its importance,” he continued. From a strategic standpoint, Microsoft should now virtually take over.
In 2015, the business was established as a nonprofit research organization by Altman and Elon Musk, inventor of Tesla (TSLA). Musk left OpenAI in 2019 due to differences with Altman.
Microsoft was also thrust into the limelight as a result of the ChatGPT phenomena. By 2023, MSFT stock had increased by 54%.
On the other hand, OpenAI supposedly has a 49% ownership stake and a $13 billion investment from Microsoft. The AI “Copilot” feature is also making its way into Microsoft’s Office productivity and security suite.
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Is Chaos Good for Google and Amazon?
Companies like Amazon (AMZN) and Alphabet’s (GOOGL) Google have rushed to improve their artificial intelligence capabilities.
Google, meanwhile, is getting an AI training model ready to compete with OpenAI’s ChatGPT. In 2024, Google will release Gemini, its next-generation AI model.
“The big question now is will Amazon and Google use this near-term chaos to their advantage in the AI Game of Thrones with Microsoft/OpenAI with a stronghold on this market,” Ives said.
But worries about AI’s disruptive power also contributed to the enthusiasm. The “risk of extinction” presented by AI was raised in May by a group of prominent IT figures, of whom Altman was one.
“To ensure that artificial general intelligence benefits all humanity.” That was the stated goal of OpenAI’s board when they announced Altman’s departure.
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