The daily business briefing: November 20, 2023

OpenAI co-founder Sam Altman joins Microsoft, Kyle Vogt resigns as Cruise CEO, and more

Former OpenAI CEO Sam Altman.
Sam Altman has found a new job after being booted as CEO of OpenAI.
(Image credit: Justin Sullivan/Getty Images)

1. Microsoft hires Sam Altman after OpenAI replaces him

Microsoft has hired OpenAI co-founder Sam Altman to lead its artificial intelligence operations after OpenAI's board replaced him with Emmett Shear, Twitch's ex-CEO. Altman will be joined by former OpenAI president Greg Brockman, who quit hours after Altman was fired, to lead Microsoft's new in-house AI development team. Microsoft, OpenAI's biggest backer, had led a frantic push by OpenAI investors for the company to bring back Altman. Microsoft remains committed to working with the ChatGPT start-up under Shear, the software giant's CEO, Satya Nadella, said in a post early Monday. Microsoft shares dropped 1.7% on Friday but were up as much as 2.7% in pre-market trading early Monday. Bloomberg

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.