Altman to return as OpenAI CEO, Nvidia's China warning - what's moving markets
Investing.com -- Sam Altman is set to be brought back as chief executive of OpenAI under the supervision of a new board following days of tension and turmoil at the high-profile AI start-up. Elsewhere, Nvidia (NASDAQ:NVDA) warns of a decline in sales in China during its current quarter in the wake of more stringent U.S. export controls, while Binance CEO Changpeng Zhao resigns as part of $4.3 billion settlement that brings an end to a multi-year probe by U.S. authorities into the cryptocurrency exchange giant.
1. Altman to return as OpenAI boss
Sam Altman is set to return to the helm of OpenAI just days after he was sacked as chief executive of the big-name generative artificial intelligence group.
The stunning reversal is the latest twist in a dramatic boardroom battle that has sparked concerns over the future of the maker of megapopular AI chatbot ChatGPT.
In a post on social media platform X, OpenAI announced that Altman, considered by many to be one of the leading figures in the global debate over the usage of AI, would be brought back to the firm. Co-founder Greg Brockman, who quit after Altman's ouster on Friday, will also return.
According to an «agreement in principle,» OpenAI said Altman will be under the supervision of a new board of directors that will include former Salesforce (NYSE:CRM) co-CEO Bret Taylor and ex-Treasury Secretary Larry Summers. Adam D'Angelo, an existing board member and head of question-and-answer service Quora, will also remain.
Prior to Altman's reinstatement, the four-person board of directors had faced heavy backlash from both staffers and investors. Reports say that a majority of employees signed a letter threatening to follow Altman to key OpenAI backer Microsoft (NASDAQ:MSFT) if he
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