Delve into the dynamic world of artificial intelligence as we uncover Microsoft's strategic maneuver to secure top talent from OpenAI, including Ex-CEO Sam Altman.
Microsoft (MSFT) emerged on Monday as the big winner of the upheaval at OpenAI, hiring ousted CEO Sam Altman and other key staff of the startup to avert a potential flight to rivals and help deepen its lead in the artificial intelligence race.
The move ensured "the golden child of AI" will stay with Microsoft, analysts said, as the company competes with Alphabet (GOOGL.)-owned Google to dominate the nascent industry.
Microsoft's shares rose as much as 2% to a record high before paring some of the gains. The company was on track to add nearly $30 billion to its market value at current levels. That was close to the valuation OpenAI commanded in its last fundraise.
Our Microsoft's #MSFT Bull signal appeared as early as $332, Pre-Market is $379 😘 as of 20 November 2023.
Microsoft CEO Satya Nadella confirmed: "OpenAI founders Sam Altman and Greg Brockman will join Microsoft."
Altman and Brockman will lead the new Microsoft artificial intelligence team. Altman's team will be provided with needed resources quickly.
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