OpenAI announces Sam Altman’s return as CEO under a new board.

The former chief of OpenAI, Sam Altman, is set to return to lead the company he co-founded under the oversight of a new board. This follows recent speculation and upheaval at the prominent generative artificial intelligence startup.

In a surprising turn of events, Altman, who was dismissed by OpenAI’s board last week, will resume leadership at the high-profile AI startup. Greg Brockman, the co-founder who resigned after Altman’s dismissal, will also rejoin. Brockman, formerly the company’s president, did not specify his role upon returning.

As per an “agreement in principle,” Altman will work under the supervision of a new board, initially chaired by former Salesforce CEO Bret Taylor, with Larry Summers and Adam D’Angelo (CEO of Quora) as members.

Altman’s reinstatement resolves a crisis that created a divide between the company’s employees and investors against the four-person board.

Altman expressed his commitment to OpenAI’s mission, stating, “I love OpenAI, and everything I’ve done over the past few days has been in service of keeping this team and its mission together.”

The board that removed Altman included Ilya Sutskever, another OpenAI co-founder, Tasha McCauley (technology entrepreneur), and Helen Toner from the Center for Security and Emerging Technology at Georgetown University.

Under employee pressure, Sutskever shifted his stance to support Altman’s reinstatement. The new board excludes the three members who negotiated as a block, and an independent investigation into the events is planned.

As part of Altman’s return agreement, he won’t rejoin the board. Altman, with the support of the new board, looks forward to returning to OpenAI and building on the partnership with Microsoft. Microsoft’s CEO, Satya Nadella, expressed support, offering to hire Altman and Brockman or back their return to OpenAI. Microsoft holds a significant minority stake in OpenAI.

Nadella sees the changes to the OpenAI board as a positive step toward stable and effective governance. Emmett Shear, interim CEO, is pleased with an outcome prioritizing safety and stakeholders’ well-being. Major venture capital investor Josh Kushner believes it’s the best outcome for the company, its employees, and the world at large.

OpenAI is currently working on the details of the collaboration, thanking everyone for their patience. Toner, one of the departing directors, expressed relief, saying, “And now, we all get some sleep.”

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