Microsoft Stock Rebounds to Record Highs After OpenAI Leadership Shakeup
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Microsoft's stock dropped nearly 2% on Friday after OpenAI's board fired Altman, but has since rebounded to an all-time high, adding $63B in market cap.
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Microsoft made a clutch move by hiring Altman and Brockman to lead a new AI lab, retaining its stake in OpenAI and top talent.
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OpenAI appointed Twitch's former CEO Emmett Shear as interim chief, but future is uncertain after mass employee exits.
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Microsoft now responsible for costs of new Altman-Brockman research org, and may still have to pay OpenAI billions under existing deals.
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While a stock pop pleases Microsoft, challenges ahead include building the new lab, handling OpenAI deals, and potential talent wars.