As it happened: OpenAI’s Altman axing, apparent 180

If you’re anything like me, you spent your weekend glued to Twitter watching the ousting of OpenAI chief executive Sam Altman play out in real-time.

It’s being called the most dramatic moment in technology since the exit and later return of Steve Jobs to Apple.

Altman is reportedly in talks to return to OpenAI, the creator of ChatGPT, after employees and investors, including Microsoft, threw their support behind him.

OpenAI was founded in 2015 as a non-profit artificial intelligence research company aimed at ensuring artificial general intelligence (AGI), aka superintelligence, benefitted humanity.

Its corporate structure changed in 2019 when a for-profit company was created to allow it to raise capital.

However, those profits are capped and it’s ultimately ruled by the independent board of directors.

Watch today’s episode of Markets with Madison above to see how those directors ousted Altman and quickly came to regret it.

Comeback confirmed? Ousted OpenAI CEO Sam Altman posted this selfie on Twitter Monday morning (NZT) from the company's headquarters saying it would be the first and last time he wears a guest pass there. Twitter/ @sama

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Madison Reidy is the host of New Zealand’s only financial markets show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.