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Sam Altman officially returns to OpenAI as Microsoft finally joins board

November 30, 2023 Coin Telegraph

board

Sam Altman addressed his employees in a company memo on Nov. 29, marking his official return to the top leadership position at OpenAI.

Sam Altman, one of the founders of OpenAI, has officially returned to office as the firm’s CEO, ending a whirlwind few weeks caused by his abrupt and unexpected temporary departure.

Addressing OpenAI employees in a company memo made public on Nov. 29, Altman confirmed that interim CEO Mira Murati will step down from her position and return to her previous role as chief technology officer.

Altman also revealed a new initial board, chaired by Salesforce CEO Bret Taylor, along with Larry Summers, who previously served as the United States Secretary of the Treasury, and Adam D’Angelo, the CEO of social question-and-answer website Quora. D’Angelo was on OpenAI’s board before the saga that unfolded in mid-November. Greg Brockman will also resume his role as OpenAI’s President.

❤️ https://t.co/9JnRmJMptH
— Sam Altman (@sama) November 30, 2023

"I have never been more excited about the future. I am extremely grateful for everyone’s hard work in an unclear and unprecedented situation, and I believe our resilience and spirit set us apart in the industry. I feel so, so good about our probability of success for achieving our mission," said Altman to employees.

Microsoft gets non-voting seat on OpenAI board

Altman revealed that Microsoft will also be included as a non-voting observer on the new board.

"We clearly made the right choice to partner with Microsoft and I’m excited that our new board will include them as a non-voting observer," he said.

A board observer is an individual who is permitted to attend and participate in meetings of the board of directors, but as implied, has no voting rights, acting more as an advisor.

Microsoft initially wasn't expected to be offered a seat by OpenAI, according to a Nov. 29 report by Reuters, which cited a person familiar with the matter.

This is despite Microsoft having invested $13 billion into OpenAI, the creators of ChatGPT, across several deals dating back to 2019.

Looking ahead, Altman said he would be focused on advancing the firm’s research plan, improving its products, and better serving customers as the top three priorities for his (technically) second stint as CEO.

The OpenAI team is irreplaceable -- I couldn’t be happier to be back at work alongside @sama and @gdb . The mission continues.
— Mira Murati (@miramurati) November 30, 2023

In the same official announcement, Taylor stressed OpenAI will "enhance the governance structure," and put together "an independent committee of the Board to oversee a review of the recent events," in effort to provide more stability to the firm. He hopes Microsoft's addition to the board will help steady the ship.

"From technology to safety to policy [...] we are pleased that this Board will include a non-voting observer for Microsoft," he said.

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OpenAI staff tells board to resign after Sam Altman ousting: Report

November 20, 2023 Coin Telegraph

board of directors

505 out of 700 employees reportedly signed a letter stating that the board has undermined the company’s mission by firing Altman.

OpenAI staff are reportedly not happy about their board of directors firing founder Sam Altman. According to a social media post from tech podcaster Kara Swisher, employees sent a letter to the board demanding that they resign. A total of 505 out of 700 employees signed the letter, the post stated.

Breaking: 505 of 700 employees @OpenAI tell the board to resign. pic.twitter.com/M4D0RX3Q7a
— Kara Swisher (@karaswisher) November 20, 2023

OpenAI is the developer of the artificial intelligence (AI) program ChatGPT. The program has over 100 million active users, according to statistics site Tooltester.

Swisher posted a copy of the letter, which accused the board of undermining the mission of OpenAI. “We, the employees of OpenAI, have developed the best models and pushed the field to new frontiers,” it stated. But “the process through which you terminated Sam Altman and removed Greg Brokman from the board has jeopardized all of this work and undermined our mission and company.”

The letter suggested that “the most stabilizing path forward” would be “for [the board] to resign and put in place a qualified board that could lead the company forward in stability.”

According to the letter, employees have attempted to investigate why Altman was fired, but they have been unable to get a clear answer from the board, which “has never provided any written evidence” to confirm its allegations.

The OpenAI board fired Sam Altman on Nov. 17 for allegedly being “not consistently candid in his communications with the board.” Greg Brockman was also removed as chair on the same day. Some investors quickly protested his removal and asked that he be reinstated. On Nov. 20, Microsoft CEO Satya Nadella announced that Altman and Brockman have been hired at his firm to head up a new AI team.

Sam Altman’s OpenAI ouster sees rollercoaster Worldcoin price

November 20, 2023 Coin Telegraph

artificial intelligence

Sam Altman’s eye-scanning world ID project saw its token price go on a wild ride over the weekend after he was fired by OpenAI.

Worldcoin (WLD), the token of Sam Altman’s retina-scanning project of the same name, saw major volatility over the past few days as he was ousted from OpenAI, reported to be in talks to make a return before finally being replaced.

WLD saw a Nov. 16 high of $2.48 before starting a slide that accelerated after Altman was outed by OpenAI late on Nov. 17 in the United States which saw it drop to a low of nearly $1.84, according to CoinGecko data.

It bounced back, surging 12% over the past 24 hours to reach an intraday high of $2.54 during Monday morning Asian trading then again dropped to $2.30 after Altman was replaced as CEO by Twitch co-founder Emmett Shear.

*Seven-day WLD price. Source: CoinGecko*

Altman co-founded Worldcoin which launched in July. While the project is separate from OpenAI, WLD’s initial rebound came after reported efforts by a group of OpenAI executives and investors to reinstate Altman as CEO of the artificial intelligence firm.

Worldcoin is a digital identity platform with ambitions to build a World-ID and financial system using retina scanning technology to authenticate humans amid a rise in AI technology.

Worldcoin’s launch polarized the crypto community who raised questions about its centralization, privacy, and security.

AI-related crypto assets have been outperforming over the past 24 hours, with the market capitalization of AI-related tokens notching a 7.2% rise to $6.5 billion with tokens such as Fetch.ai (FET), SingularityNET (AGIX), and Akash Network (AKT) notching up double-digit gains according to CoinGecko.

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OpenAI investors push for Sam Altman’s return as CEO: Report

November 19, 2023 Coin Telegraph

Coin Telegraph

According to sources familiar with the matter, key investors at OpenAI disagreed with the board's decision to terminate CEO Sam Altman and are advocating for his reinstatement.

The board of directors at OpenAI is reportedly receiving criticism from investors over the decision to terminate its CEO Sam Altman.

According to a November 19 Bloomberg report, citing people familiar with the matter, several investors of OpenAI – the artificial intelligence (AI) company behind chatGPT – are reportedly in contact with its largest shareholder, Microsoft, in an effort to reinstate Altman as CEO.

On November 17, OpenAI announced the removal of Altman as CEO, with its chief technology officer Mira Murati stepping into the CEO position.

In a blog post, the board claimed that Altman's communication lacked clarity and honesty, making it challenging to obtain a comprehensive understanding of the operations.

Thrive Capital, anticipated to spearhead a tender offer for employee shares, has reportedly not sent the funds yet, and Altman's departure is poised to impact its course of action.

Reportedly, Thrive wants the board to re-engage both Altman and Greg Brockman, its president, who departed on Friday shortly after Altman was removed from the company.

Sam and I are shocked and saddened by what the board did today.

Let us first say thank you to all the incredible people who we have worked with at OpenAI, our customers, our investors, and all of those who have been reaching out.

We too are still trying to figure out exactly…
— Greg Brockman (@gdb) November 18, 2023

Brockman announced his departure after it was revealed that Altman had been dropped by the board.

“Based on today's news, I quit,” Brockman declared in a post on X.

Following the news, three OpenAI senior researchers, including Jakub Pachocki, director of research, Aleksander Madry, head of preparedness, and Szymon Sidor, senior researcher, also departed.

Meanwhile, reports indicate that Altman is willing to return to the company, contingent upon the current board stepping down by the end of the weekend.

Furthermore, Microsoft CEO Satya Nadella reportedly expressed his support for any decision Altman makes, given that the board's decision was also a surprise to him.

However, recent reports since Altman's dismissal on Friday state that he is developing a new AI venture set to launch, as per familiar sources. Furthermore, there were reports indicating that Brockman would be joining Altman in this venture.

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Sam Altman ousted from OpenAI, CTO Mira Murati named interim CEO

November 17, 2023 Coin Telegraph

chatGPT

The Board of Directors removed Altman on the grounds that he was allegedly ‘not consistently candid in his communications with the board.’

ChatGPT developer OpenAI has removed founder Sam Altman from its CEO position, according to a November 17 blog post. Chief technology officer Mira Murati will be promoted to interim CEO. According to the post, the Board of Directors engaged in a “deliberative review process,” which resulted in the conclusion that Altman “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”

Altman could not immediately be reached for comment.

OpenAI announces leadership transition https://t.co/fFYDLwGXQz
— OpenAI (@OpenAI) November 17, 2023

The Board of Directors for OpenAI stated that it remains committed to building artificial intelligence (AI) applications going forward:

“OpenAI was deliberately structured to advance our mission: to ensure that artificial general intelligence benefits all humanity. The board remains fully committed to serving this mission[…]Mira is exceptionally qualified to step into the role of interim CEO. We have the utmost confidence in her ability to lead OpenAI during this transition period.”

The board also stated that it is “grateful for Sam’s many contributions to the founding and growth of OpenAI” but claimed that “new leadership is necessary as we move forward.” The board’s chairman, Greg Brockman, will also be stepping down from his position. However, he will remain as an employee, “reporting to the CEO,” according to the post.

The board of directors consists of Adam D’Angelo, Tasha McCauley, Helen Toner, and OpenAI chief scientist Ilya Sutskever. According to the post, the majority of board members are “independent directors” who do not hold equity in OpenAI.

Sam Altman is also the founder of Tools for Humanity, the developer of crypto project Worldcoin. Cointelegraph reached out to Tools for Humanity for comment, but did not get a response by the time of publication.

This is a developing story, and further information will be added as it becomes available.

Google to invest another $2B in AI firm Anthropic: Report

October 28, 2023 Coin Telegraph

Anthropic

Google has already invested $500 million as part of the deal, while the outstanding $1.5 billion will be paid over time, according to the Wall Street Journal.

Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report.

Google has already invested $500 million upfront to Anthropic — a rival to ChatGPT creators OpenAI — and will pay off the remaining $1.5 billion over time, according to an Oct. 27 report by the Wall Street Journal (WSJ), which cited people familiar.

The mega-deal adds to Google’s $550 million investment into Anthropic earlier in the year.

Google Cloud also striked a multi-year deal with Anthropic a few months ago worth over $3 billion, WSJ revealed, citing a person familiar with the matter.

The news follows Amazon’s massive $4 billion investment into Anthropic late last month.

$GOOGL Agrees to Invest $2 Billion in AI Startup Anthropic - WSJ

- Google, Anthropic Deal Reflects Continued Tech Giant Push Into AI
- Google Investment Follows Amazon's $4 Billion Funding of Anthropic
- Google Previously Invested $550 Million in Anthropic
— Kaushik (@BigBullCap) October 27, 2023

Anthropic is using much of these investments to train its AI systems, such as AI assistant Claude, in hopes that the firm can achieve the next big breakthrough in the AI industry.

On the other side of the fence is OpenAI, who have received more than $13 billion in funding from Microsoft alone since 2019 and continue to build more advanced versions of its own AI chat bot, ChatGPT. The popular chat bot amassed over 100 million users within the first two months of launching in November, which caught the attention of many venture capital firms around the world looking to invest in the space.

The co-founders of Anthropic, siblings Dario and Daniela Amodei, previously worked at OpenAI but left in 2021 following disputes with OpenAI’s CEO Sam Altman over safety implications associated with building AI systems.

Prior to Google and Amazon, Anthropic was largely bankrolled by former FTX CEO Sam Bankman-Fried, who invested about $530 million in Anthropic's in April 2022 — about seven months before FTX collapsed.

Anthropic’s surge in valuation has been viewed as a positive sign for FTX creditors in hopes that they will be compensated fully from FTX’s bankruptcy case.

As SBF testifies, Google announces it's investing another $2 billion in AI company Anthropic

FTX invested $500M in Anthropic — before Google and before Amazon. The company has now raised $7 billion in the past year alone.

FTX's customer hole closer to being shored up pic.twitter.com/bCDAIlL3nK
— Zack Guzmán (@zGuz) October 27, 2023

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Sam Altman

Microsoft gets non-voting seat on OpenAI board

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