After a massive Friday ousting of OpenAI CEO, Sam Altman, the board is now in discussion with its former CEO to make a comeback at his job role. Sam Altman is reportedly in talks with OpenAI to come back as CEO.
Reuters reports that Altman is in talks with OpenAI executives about a possible return and improvements in the AI company. On the other hand, he’s also in discussion with other people who are interested in starting a new OpenAI competitor.
However, there are some key takeaways of Altman’s ousting from OpenAI and it all comes down to the shares and the value of the entire company.
Following the official confirmation, OpenAI investors were left in shock after it announced to fire of Sam Altman. There are reports that a number of top executives followed the OpenAI CEO as a backlash. It’s also reported that more OpenAI talent is ready to flee if Altman starts or joins a new venture.
For example, Vinod Khosla, one of the earliest backers of OpenAI, also wants Altman back at OpenAI but is also ready to back his next venture.
Microsoft is also looking to fix the issues between the OpenAI board and Sam Altman to bring them to the same table. The tech company has about 49% stacks at OpenAI, the other 49% is owned by investors and employees and the rest of the 2% goes to OpenAI’s nonprofit parent.
Insiders in this matter suggest that there’s a huge anger among OpenAI employees over Altman’s removal. Meanwhile, there’s a big question mark that’s looming over OpenAI’s shares, which could be affected by this new turmoil that just unfolded.
OpenAI started its journey in 2015 as a nonprofit AI research firm. Last year, the firm unveiled its new generative large language model AI technology chatbot, ChatGPT, which became a massive success.
In early 2023, ChatGPT reported around 100 million users and raised OpenAI’s valuation to $29 billion. With that much of attraction, Microsoft involved its investment in OpenAI and integrated the ChatGPT technology into its Bing browser.
A month ago, WSJ revealed that OpenAI is talking to investors about a share sale that would value the ChatGPT maker between $80 to $90 billion to triple its value from earlier this year. However, the current scenario doesn’t seem favorable to this plan whatsoever.