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Technology Stocks : Microsoft Corp. - Moderated (MSFT)

MSFT 517.03

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Nov 3 9:30 AM EST

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From: Don Green

11/18/2023 10:59:33 AM

of 19789

Microsoft was blindsided

Sam Altman, then CEO, speaks at OpenAI DevDay in San Francisco on Nov. 6. Photo: Justin Sullivan/Getty Images
Microsoft, which has invested billions in OpenAI, learned that OpenAI was ousting CEO Sam Altman just a minute before the news was shared with the world, Axios' Ina Fried reports.

Why it matters: Microsoft is ChatGPT maker OpenAI's closest partner and has deeply tied its fortunes to the AI startup. OpenAI relies on Microsoft for funding as well as its cloud services.

Microsoft CEO Satya Nadella said in a blog post: "We have a long-term agreement with OpenAI with full access to everything we need to deliver on our innovation agenda and an exciting product roadmap; and remain committed to our partnership, and to [interim CEO Mira Murati] and the team."

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