2023-11-20 21:41:57
Fired at OpenAI, hired by Microsoft: AI pioneer Sam Altman is causing a stir in the digital industry. Image: AFP
After the sacked head of OpenAI, Sam Altman, joined Microsoft, the software giant’s share price rose to a record high.
Investors on Wall Street once again bought stocks at the start of the week. The Dow Jones index of standard stocks and the broader S&P 500 each gained around half a percentage point to 35,137 and 4,544 points respectively on Monday. The index on the technology exchange Nasdaq advanced by a good one percent to 14,280 points.
Microsoft was particularly in the spotlight: with the fired OpenAI boss on board, the software company reached a new record high. After Sam Altman’s entry into Microsoft was announced, the share price jumped two percent to a record high of $377.10 at the start of trading. As a result, the software giant’s market value increased by almost $54 billion.
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That’s more than ten times the amount that Microsoft invested in OpenAI at the beginning of the year. A few days after his surprising expulsion from OpenAI, the ChatGPT maker will now lead a new team for the development of artificial intelligence (AI) at Microsoft.
Roland Lindner, New York Published/Updated: , Recommendations: 14 Maximilian Sachse Published/Updated: Recommendations: 4 Hendrik Kafsack, Brussels Published/Updated: Recommendations: 6
Technology stocks were among the biggest gainers on Wall Street in November. All three major US stock market indices had recently risen because investors were betting on an end to interest rate increases in view of the easing price pressure in the USA. But before investors take more risk, analysts say they are now waiting for further indications as to when the US Federal Reserve might start cutting interest rates.
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