Sam Altman returns to OpenAI's board of directors, and the AI sector is experiencing general gains again

BlockBeats news, on March 9, according to TheInformation, Sam Altman will rejoin the OpenAI board of directors as CEO.

"Sam and Greg are the right leaders for OpenAI"

The OpenAI board of directors also recently An announcement was made on Twitter announcing the completion of a review conducted by the law firm WilmerHale and that Sam Altman and Greg Brockman will continue to lead OpenAI.

In the announcement, WilmerHale conducted dozens of interviews with former OpenAI board members, OpenAI executives, former board advisors, and other relevant witnesses, and reviewed 30,000 multiple documents and evaluate various actions taken by the company. It concluded that Sam Altman's conduct did not warrant his removal from office. Instead, WilmerHale found that Sam Altman's dismissal resulted from "a breakdown in the relationship and loss of trust between the former Board of Directors and Mr. Sam Altman." The old board acted too quickly, without notifying key stakeholders in advance and without conducting a full investigation.

Based on the record established by WilmerHale and the recommendations of the Special Committee, the Board of Directors has expressed its full confidence in the continued leadership of OpenAI by Messrs. Sam Altman and Greg Brockman. The announcement quoted Bret Taylor, chairman of the OpenAI board of directors, saying, "We all believe that Sam and Greg are the right leaders for OpenAI."

Subsequently Sam Altman also tweeted from the perspective of OpenAI CEO, "Thanks to everyone on our team for showing perseverance. (an excellent skill at OpenAI!) and staying focused during challenging times." Sam also gave special thanks to OpenAI interim CEO Mira Murati and President Greg Brockman for their support. Previously, former president Greg Brockman publicly announced his resignation to show support after learning that Sam Altman had been dismissed. Mira Murati also served as interim CEO in the company and made a lot of efforts for Sam Altman's return.

Sam Altman reviewed his previous resignation at the end, saying "I learned a lot from this experience" and revealed that some important work is being carried out and he can't wait to show it to users.

Board of directors dismissal controversy

November 17, 2023, non-profit organization that oversees OpenAI The board of directors stated that it "lost confidence in Atlman's candor" and announced the dismissal of its CEO Sam Altman and the removal of President Greg Brockman from the board of directors. The company's chief technology officer Mira Murati was appointed as interim CEO. This news shocked the technology world.

The deeply divided OpenAI board of directors and Sam Altman have been at odds for two weeks. At the start of the announcement, OpenAI interim CEO Mira Murati said she planned to rehire Sam Altman and former president Greg Brockman. More than 80% of OpenAI's more than 700 employees also signed a joint letter calling on the board of directors to resign and reinstate Sam and Greg.

Later, Open AI’s new CEO Emmett Shear stated on his social platform that as part of his first 30 days in office, he plans to pay tribute to his co-founders and former An investigation into the CEO's ouster will be launched, and an "independent investigator" will be appointed to investigate the process and communication strategies surrounding Sam Altman's ouster, and the investigator will be required to hand over a full report.

During this period, Microsoft, which invested more than 11 billion US dollars in OpenAI, also expressed that it would consider joining the OpenAI board of directors to provide support for Sam. If Altman cannot return to OpenAI, Microsoft will Investment in Altman's new venture will be considered. Sam Altman finally posted on social media, saying, "I love OpenAI and look forward to returning to OpenAI and continuing to develop based on our strong cooperation with Microsoft."

Related reading: "The farce is over, Sam Altman belongs to Microsoft》

Finally, OpenAI announced the formation of a new initial board of directors on November 30, with Sam Altman returning as CEO, Mira Murati as chief technology officer, and Greg Brockman returning as CEO. The interim Board of Directors also includes Bret Taylor (Chair), Larry Summers and Adam D'Angelo. More than 100 days after the "coup", Sam Altman returned to OpenAI's original board of directors.

The AI sector reacted strongly

Affected by the news of Sam Altman’s return to OpenAI, the encryption market’s enthusiasm for the AI sector Pushed up again. AI projects such as Render (RNDR), Fetch.ai (FET), SingularityNET (AGIX), Arkham (ARKM), etc. have all increased by more than 15% in 24 hours. Worldcoin (WLD), the founder of which Sam Altman is

, hit a new all-time high, breaking through $10, with a 24-hour increase of more than 40%.

In addition, the decentralized streaming media platform LPT, which doubled in 3 days due to the large video generation model Sora launched by OpenAI, also rose sharply and achieved a short-term breakthrough. It briefly exceeded $26 and is now quoted at $25.9, a 24-hour increase of over 65%.

As OpenAI continues to launch new products and NVIDIA’s stock price soared 8 times last year, the AI sector, which is very promising in the technology industry, has also become a hot topic in the encryption market in 2024. field, since this year, WLD has become a popular target in the AI sector with its impressive trend of rising more than 300% in two weeks. Various AI projects that appeared in the last bull market and are now listed on mainstream trading platforms have also "revived". The positive stimulation of Sam Altman's return to OpenAI is just the beginning of further growth for various AI projects this year.

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