Syz the moment

There will be a new board of directors initially consisting of Bret Taylor, Larry Summers, and Adam D'Angelo. Less than 1 week after Sam Altman was fired, OpenAI is welcoming him back. In a statement from the company, they are "collaborating to figure out the details."

"NVIDIA GPUs, CPUs, networking, AI foundry services and NVIDIA AI Enterprise software are all growth engines in full throttle. The era of generative AI is taking off" – Co-founder & CEO, Jensen Huang Revenue +206% *Data Center +279% *Gaming +81% *Professional Vis. +108% *Automotive +4% EBIT +1,633% *marg. 64% (26%) EPS +1,274% Source: Quartr

However, it warns of "significant" China slowdown, guidance matches whisper range; stock is down 1% after-hours... The blowout earnings were certainly good news... but the warning about declining China sales and the guidance which only tagged the top end of the whisper guidance, that was not quite as exciting, and as a result, the stock initially dumped as much as $30 after hours, before recovering most of its losses, but has since resumed drifting 1% lower, setting up the stock for its first post-earnings drop since the advent of ChatGPT almost exactly one year ago. Source: App Economy Insights

Source: HolgerZ, Bloomberg

Following the company's structure from top to bottom — even with a few subsidiaries thrown in — reveals that the board of directors had ultimate control to make decisions over both the nonprofit and for-profit OpenAI entities... leaving anchor investor Microsoft blindsided by Altman’s ousting just moments before the public announcement. The company that launched ChatGPT less than a year ago claims that its structure is designed to develop artificial general intelligence that’s “safe and benefits all of humanity”, with the capped profit arm of OpenAI, first introduced in 2019, able to issue equity and raise capital to further the work of the original nonprofit that was established in 2015. Source: Chartr

Microsoft has hired Sam Altman and Greg Brockman to lead a team conducting artificial intelligence research, days after the pair were pushed out of OpenAI, the company they co-founded. Writing on X on Monday, Microsoft chief executive Satya Nadella said that Altman and Brockman, “together with colleagues, will be joining Microsoft to lead a new advanced AI research team”. “We look forward to moving quickly to provide them with the resources needed for their success,” he added. Altman retweeted Nadella’s post on Monday, adding: “the mission continues”. Source: FT

Microsoft has hired Sam Altman and Greg Brockman to lead a team conducting artificial intelligence research, days after the pair were pushed out of OpenAI, the company they co-founded. Writing on X on Monday, Microsoft chief executive Satya Nadella said that Altman and Brockman, “together with colleagues, will be joining Microsoft to lead a new advanced AI research team”. “We look forward to moving quickly to provide them with the resources needed for their success,” he added. Altman retweeted Nadella’s post on Monday, adding: “the mission continues”. Source: FT

Negotiations to get Altman back in the company started less than 24 hours after he was fired. Investors including Microsoft attempted many rounds of negotiations. Staff at OpenAI have also threatened to quit if Altman does not return. But according to CNBC and Bloomberg, the board of OpenAI is bringing in former Twitch CEO Emmett Shear to run the artificial intelligence company, two days after the sudden ouster of Sam Altman, CNBC has confirmed. The Information and Bloomberg both reported on the hiring of Shear earlier. The news was confirmed to CNBC by a person familiar with the matter who asked not to be named because the discussions were confidential. Source: CNBC