In a crash pod filmed hours before The Information broke Sam Altman would be returning to OpenAI, the More or Less gang got to the root of why the last five days of chaos around OpenAI is like nothing we've seen before in business. For those of you looking for the broader significance—and where the industry goes next—this pod is for you. And a very Happy Thanksgiving—especially to the entire... Read more ›
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In the turmoil around the firing and rehiring of former OpenAI CEO Sam Altman, many people have looked to OpenAI’s complex governance structure, which marries its original nonprofit mission with a rapidly growing for-profit company now generating revenue at a pace exceeding $1 billion a year. OpenAI’s structure is indeed complex: It is a nonprofit that owns a holding company that owns the majority of a for-profit company but controls... Read more ›
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An OpenAI employee share sale that values the firm at $86 billion is back on track following Sam Altman’s reinstatement as CEO late Tuesday night, a person familiar with the matter said. The deal, in which a group of investors led by Thrive Capital will buy up to $1 billion of stock—and conceivably more—held by employees or other investors, is expected to close next month. A range of investors was... Read more ›
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Late Thursday afternoon, on what would become the eve of his firing from OpenAI, Sam Altman joined rivals from Google and Meta Platforms on stage at the APEC CEO Summit in San Francisco to discuss the future of artificial intelligence. In an uncanny foreshadowing of the drama to come, the event’s moderator was Laurene Powell Jobs, whose late husband, Apple co-founder Steve Jobs, was once defenestrated by his own board,... Read more ›
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Just when it felt like crypto could coast into Thanksgiving with OpenAI drama dominating headlines, U.S. officials barged in with a settlement in long-running investigations into Binance.The deal is on one hand a seismic shift for the world’s biggest crypto exchange. (You can view our updated Binance org chart here.) Its founder Changpeng Zhao pleaded guilty to violating U.S. anti-money laundering laws in a Seattle courtroom on Tuesday and agreed... Read more ›
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Silicon Valley executives and investors rushed to Sam Altman’s corner over the weekend after news of his ouster from OpenAI. Among them was Brian Chesky, the well-known co-founder and CEO of travel behemoth Airbnb, who has spent the past five days as a behind-the-scenes adviser to Altman. At one point he even acted like a media spokesperson by tweeting, and then deleting, a post saying that Altman and his OpenAI... Read more ›
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This morning, OpenAI employees, investors, customers (and exhausted tech reporters) woke up to the long-awaited news: Sam Altman’s back. The embattled CEO may have had to compromise on a few items to land his old gig back: His new board still includes Quora CEO Adam D’Angelo, who was part of the old board that fired him in the first place, and Altman agreed to an internal investigation into the alleged... Read more ›
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Down rounds, lackluster initial public offerings and growth slowdowns aside, an unlikely new star appeared in the startup world last week. Canva—an Australian design startup that has kept a relatively low profile despite a $25 billion–plus valuation—was the central focus of Goldman Sachs’ wooing at its annual private investor conference in Las Vegas, where top venture capitalists and mutual funds hatched deals with startups. Bankers fawned over a Canva co-founder... Read more ›
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Sam Altman is back as OpenAI’s CEO. Now he faces the hard part: mending the fracture that led to his ouster less than five days before—and repairing an image that had lost its shine as the corporate drama spilled into the public view. Among the most immediate challenges will be determining the role of Ilya Sutskever, the company’s visionary chief scientist, and his allies on the company’s AI safety team... Read more ›
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Mira Murati, the company's chief technology officer, has just informed staff of the reinstatement of Sam Altman, who was fired on Friday. This story is developing. Read more ›
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As the tech world remained riveted by the OpenAI soap opera, the real artificial intelligence money machine was demonstrating the fine art of printing greenbacks. That would be Nvidia, which reported on Tuesday that its revenue soared 206% in the October quarter, to $18.1 billion from $5.9 billion a year earlier. That’s what happens when you essentially corner the market for the specialized AI chips that are a must-have commodity... Read more ›
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In the weeks leading up to his firing as OpenAI CEO, Sam Altman had a conflict with artificial intelligence researcher Helen Toner, one of the directors on the non-profit board that governs the company, according to a person familiar with the situation. Altman tried to get Toner off the board and was engaging other board members in that effort, according to the person. Insights about the relationship between Altman and... Read more ›
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After the surprise ouster of Sam Altman from OpenAI over the weekend, X was atwitter—pun intended—with real-time updates about what was happening. Our feeds were flooded with heart emojis, cryptic messages about what’s next, posts saying “OpenAI is nothing without its people” and, of course, total speculation.“See, Twitter’s not dead,” comedian Alexis Gay said in a new video capturing the industry reaction to “when there’s big tech news.” “Everyone’s like,... Read more ›
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Tiger Global Management has said private investment chief Scott Shleifer will transition from his current role effective January 1, according to two people familiar with the matter. He will become a senior adviser at the firm. Shleifer is a co-founder of its private equity investing unit. He has been a leader of the hedge and venture fund for two decades and invested in a number of companies, including ride-hailing app... Read more ›
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Quora CEO Adam D’Angelo, one of the central figures in the power struggle over OpenAI, has gained a reputation for stubbornness among Quora employees, a facet of his personality that may be playing into the debate on OpenAI’s board about whether to reinstate Sam Altman as CEO. At the question-and-answer site, there was “never” an example where an employee convinced D’Angelo to change his position, a former Quora employee said.... Read more ›
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Just when I thought the OpenAI saga couldn’t get any crazier, I learned last night that OpenAI’s board had approached Dario Amodei, the co-founder and CEO of its biggest startup rival Anthropic, about a potential merger of the two companies as part of an effort to persuade him to replace Sam Altman as CEO.The idea didn’t get very far. In fact, if you’re counting, you’ll see we’re up to four... Read more ›
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In 2021, an engineer was programming the software that controls manufacturing robots at Tesla’s Austin, Texas, factory when something went wrong. Two of the robots, which cut car parts from freshly cast pieces of aluminum, were disabled so the engineer and his teammates could safely work on the machines. A third one, which grabbed and moved the car parts, was inadvertently left operational, according to two people who watched it... Read more ›
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OpenAI’s board of directors approached Dario Amodei, the co-founder and CEO of rival large-language model developer Anthropic, about a potential merger of the two companies, said a person with direct knowledge. The approach came after OpenAI’s board had fired CEO Sam Altman on Friday and was part of an effort by OpenAI to persuade Amodei to replace Altman as CEO, the person said. It’s not clear whether the merger proposal... Read more ›
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Talk about shooting yourself in the foot. Three days after OpenAI’s board fired CEO and co-founder Sam Altman, most of the staff has threatened to quit, investors are complaining and customers are canvassing the wide range of alternatives. It’s a good bet this isn’t how the board members thought the Altman firing would play out. Hopefully, though, they’ve learned something. Perhaps next time they decide to fire their CEO, they’ll... Read more ›
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My colleagues have spent most of the last three days trying to get ahead the twists and turns at OpenAI. Besides co-founder Sam Altman being a bona fide influencer in his own right, with 2.2 million followers on his @sama, this telenovela on warp speed intersects the creator economy in some surprising ways. First and foremost, the embattled board of OpenAI made the surprising move of appointing Emmett Shear as... Read more ›
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29.11.2024 04:42
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