Microsoft Stocks Reach All-Time Peak with Former OpenAI CEO Sam Altman’s Hiring

Microsoft’s stocks surged to a historic peak on Monday, November 20, following the announcement that Sam Altman, the former CEO of OpenAI, would be joining the company to spearhead its artificial intelligence (AI) innovation endeavors.

Altman’s arrival comes on the heels of a controversial boardroom coup at OpenAI, leading to his ousting and triggering a 1.7% dip in Microsoft’s shares on Friday, November 17.

The tech giant’s shares reached an impressive $377.10 on Monday morning, showcasing investor confidence in Altman’s leadership and the potential for groundbreaking advancements in AI under his guidance.

For Microsoft, this marks a strategic move to bolster its position in the AI landscape, given the company’s significant $13 billion investment in OpenAI.

Interestingly, Greg Brockman, a co-founder of OpenAI who resigned in the aftermath of Altman’s departure, is also set to join Microsoft. This dual recruitment further underscores Microsoft’s commitment to harnessing top talent from the AI industry.

Altman’s return to the forefront of AI development brings an end to days of speculation about his potential comeback after the abrupt end to his tenure at OpenAI.

The ripple effects of Altman’s firing were felt not only in the AI community but also in Microsoft’s stock performance. With Altman at the helm, Microsoft aims to push the boundaries of AI innovation, leveraging its expertise to maintain a competitive edge in this rapidly evolving field.