Nov 18th, 2023 – OpenAI’s CEO Sam Altman will step down and be temporarily replaced by Mira Murati due to concerns about his lack of transparency with the board, which has expressed a loss of confidence in his leadership. With the acknowledgment of the change Greg Brockman resigned as chairman but confirmed his role in the company, reporting to the CEO.
Despite OpenAI’s recent success with ChatGPT and its significant funding from Microsoft, Altman’s exit led to Microsoft’s shares declining. The market reaction reflected concerns or uncertainties about the future of the partnership between Microsoft and OpenAI under new leadership.
It is important to note, however, that stock market reactions are often volatile and influenced by a variety of factors. Market fluctuations following leadership changes may not always represent a company’s long-term success or prospects. Over time, as the market gains more clarity on the implications of the transition and the future direction of the partnership between the two companies, stock prices could stabilize or regain stimulus based on other fundamental variables influencing Microsoft’s business.
Another interesting news is that Microsoft, after having invested billions in OpenAI, briefly restricted its employees from using ChatGPT, the famed product of the startup, due to security and data concerns. After an outcry, Microsoft restored access to ChatGPT, attributing the temporary blockage to an unintentional system test for large language models. The company suggested using its own Bing Chat Enterprise, which utilizes OpenAI models but offers enhanced privacy and security measures.
The restriction on ChatGPT aligns with a trend widely spread among major corporations to limit its use and consequently prevent the potential exposure of sensitive information.
Author: Simona Merlo