OpenAI board scrubbed stabilizing the $90B company after chaos
The Quora board has also been expanded to include Bret Taylor, Larry Summers, and Adam D’Angelo, the company’s CEO. In attempting to reinstate Altman, D’Angelo, the only remaining member of the previous board, had been leading the charge.
As part of our agreement, Sam Altman will be returning as CEO of OpenAI with a brand new board comprised of Bret Taylor, Larry Summers, and Adam D’Angelo. We are collaborating to figure out the details. Thank you so much for your patience,” OpenAI wrote on X.
According to Wedbush Securities analyst Dan Ives, Microsoft’s “days are numbered” as a result of the win.
The Microsoft relationship will be even stronger as OpenAI will be stronger from a governance and innovation perspective, and Microsoft’s relationship will be stronger as Redmond and Nadella were the bedrock in supporting Altman and OpenAI throughout this almost week-long saga, he wrote in a research note Wednesday.
This is an important first step toward more effective, well-informed, and stable governance. In a post on X, he wrote, “Sam, Greg, and I have discussed and agreed that OAI’s leadership team and they are playing a crucial role in ensuring the organization thrives and continues to fulfill its mission.”
The OpenAI website states, “We are governed by a nonprofit and our capped-profit model drives our commitment to safety.”
Still, the company is also a tech startup that has raised billions from investors, including Microsoft, its largesta stake valued at an estimated $13 billion of the reported $90 billion for the entire enterprise. The company signed a contract with Altman after he was terminated over the weekend.