It was an action-packed weekend all inside the biggest technological giant company. Sam Altman faced a dramatic exit from his CEO position due to communication discrepancies with the board, even though he raised the company from $0 to $80B. This departure marks a series of shifts in the boardroom since Elon Musk’s resignation in 2018, signaling a turbulent journey for the company.
Is Sam Altman Back To Openai? Here is what we know about his latest projects:
Less than a day after SamAltman was fired as CEO of leading OpenAI, multiple reports leaked suggesting that the company – or at least its significant investors, including Microsoft, who lost $48B post his exit – is negotiating to bring him back. The clash within the company revolves around pace: “effective altruists” advocating caution in AI development vs. Altman allies pressing for speed, ignoring safety risks.
Other OpenAI investors are also pushing for Altman’s return; according to the Wall Street Journal, one factor might be that Altman’s dismissal ignited a series of key departures, starting with Greg Brockman, Co-Founder of OpenAI. In response, Altman is seemingly open to rejoining, potentially signaling a quest for governance changes within the board.
Amid Altman’s surprising removal, reports of his efforts to secure substantial investments for an ambitious venture popped up. In collaboration with ex-Apple design chief Jony Ive, Altman aimed to launch an AI-centric chip company challenging industry giant Nvidia. Altman’s discussions with potential investors, including SoftBank and Saudi Arabia’s Public Investment Fund, as revealed by sources hinted at an endeavor worth billions of dollars. So, things are becoming more apparent. Sam Altman was planning to create an AI chip company that could rival Nvidia and Qualcomm and was trying to raise money in the Middle East to fund it.
Could this have been a conflict for him and the board as well?
However, OpenAI continued to evolve while Altman sought finance for his AI chip startup. Techies and investors criticized Altman’s unexpected departure. Microsoft investor Satya Nadella, like Web3 executives Charles Hoskinson and Brian Armstrong, supported Altman’s prospects.
As per the latest information, Altman is not taking over again, and Twitch co-founder Emmett Shear will serve as interim CEO, citing board director Ilya Sutskever.
Impact on Crypto
The aftermath? Altman’s potential comeback to OpenAI brings hopes for a new chapter. But the crypto felt tremors when the Worldcoin (WLD) token, linked to Altman’s other biometric project, plummeted just after his exit. CoinGecko data showed Worldcoin dropped to US$1.84 within 24 hours. Worldcoin has gained 18% in 24 hours to recover US$2.40 amid OpenAI executives and investors’ efforts to return Mr. Altman as CEO.
The fallout shows that a unified company vision is key to avoiding unwarranted risks that cloud the future. What are your thoughts on Ilya’s choice?