Turmoil and Turnaround: OpenAI’s Sudden CEO Shift and Board Restructuring

November 29, 2023 – Insider sources have informed Reuters that OpenAI, currently undergoing a restructuring phase, is not expected to extend board seats to other investors such as Microsoft, Khosla Ventures, and Thrive Capital.

It’s noteworthy that Microsoft stands as OpenAI’s largest supporter, having previously committed billions of dollars in investments to the company.

Amidst the recent upheavals last week, OpenAI made headlines by unexpectedly terminating its CEO and founder, Sam Altman, without providing specific reasons. Three days later, the organization reversed its decision, welcoming Altman back and pledging to establish a new board of directors.

According to reports from The Information, OpenAI is set to unveil a nine-member board, with three initial members — Chairman Bret Taylor, former Treasury Secretary Larry Summers, and Quora CEO Adam D’Angelo — expected to be officially confirmed later this week.

As it stands, D’Angelo is anticipated to be the sole director retained from the previous six-member board that saw Altman’s dismissal.

Regarding inquiries about the OpenAI board, a Microsoft spokesperson stated, “We will await the formal announcement from the board.” OpenAI, Thrive, and Khosla have yet to respond to requests for comments.

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