Etoro analyzes the impact that the signing of Sam Altman, former CEO of OpenIA, is having on Microsoft titles.
“Microsoft is confident that Altman can bring some shine to its internal AI initiative and also hopes that OpenAi's new CEO, Emmett Shear, can stabilize the AI pioneer company and the value of its investment,” says Ben Laidler, eToro global markets strategist.
Microsoft's stock rebounds after hiring Altman
Microsoft investors appear to have reacted positively to the news that recently fired OpenAI CEO Sam Altman has joined the giant's ranks to lead a new AI division, with the share price up 2.5 %.
The November 2022 launch of #ChatGPT by #OpenAI It sparked what may have been the fastest adoption of consumer technology in history. But Altman's surprising firing on Friday shows that this has come with significant growing pains.
It has also put technology giant Microsoft in a difficult situation, as it is the largest sponsor and shareholder of OpenAi (49%), and the largest beneficiary of its valuation, which has skyrocketed to $86 billion.
Microsoft opposed Altman's firing and is confident he can bring some shine to its internal AI initiative, while the company also hopes that OpenAi's new CEO, Emmett Shear, can stabilize the pioneering company in #IA and the value of your investment.
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