Microsoft in Stronger AI Position Hiring Altman, Brockman: Wedbush

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Microsoft in Stronger AI Position Hiring Altman, Brockman: Wedbush

Seekingalpha2023-11-20

The hiring of former OpenAI co-founders Sam Altman and Greg Brockman has put Microsoft (NASDAQ: MSFT) in an even "stronger" position from an artificial intelligence perspective than it was before and ...

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href=https://seekingalpha.com/news/4038519-microsoft-stronger-ai-position-hiring-altman-brockman-wedbush><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The hiring of former OpenAI co-founders Sam Altman and Greg Brockman has put Microsoft (NASDAQ: MSFT) in an even \"stronger\" position from an artificial intelligence perspective than it was before and ...</p>\n\n<a href=\"https://seekingalpha.com/news/4038519-microsoft-stronger-ai-position-hiring-altman-brockman-wedbush\">Source 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past few days, investment firm Wedbush Securities said.Analyst Dan Ives, who has an outperform rating and $425 price target on Microsoft, likened the whole ordeal in which Altman was ousted from his job to a game of poker gone horribly wrong.\"In a nutshell, the [junior varsity] 4 Person Board at OpenAI was at the kids poker table and thought they won until Nadella and Microsoft took this all over in a World Series of Poker move for the ages with the Valley and Wall Street watching with white knuckles Sunday night/Monday early am,\" Ives wrote in an investor note on Monday. \"We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman at MSFT running AI.\"Ives added that if Microsoft lost Altman, who was in talks to return to OpenAI as Chief Executive among other options, he could have gone to Amazon (AMZN), Google (GOOG) (GOOGL), Apple (AAPL) or several other companies.\"Instead he is safely in Microsoft's HQ now leading the company key AI efforts which we expect many key scientists and developers to leave OpenAI and head directly to Microsoft,\" Ives said.In an early Monday morning post on X, formerly known as Twitter, Microsoft (MSFT) CEO Satya Nadella said the company was \"extremely excited\" to have Altman and Brockman join the company, leading advanced AI research.\"We look forward to moving quickly to provide them with the resources needed for their success,\" Nadella wrote.Nadella also said that Microsoft (MSFT) is committed to its partnership with OpenAI, everything that was announced at its Ignite conference and looks forward to \"getting to know [new CEO] Emmett Shear and OAI's new leadership team and working with them.\"Earlier this year, Microsoft (MSFT) made a \"multibillion\" dollar investment into OpenAI, the maker of popular ChatGPT, that has reportedly given them a 49% stake in the company.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":5,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}