OpenAI In Upheaval, Report Says Altman Could Return Amid Board Tensions: Microsoft Hits Record Highs, On Track For Best Year Since 1999

Sam Altman, former president of OpenAI, is reportedly contemplating a return to the company contingent on the resignation of the board members who played a key role in his dismissal.

Multiple sources close to the matter told The Verge Monday that Altman’s move to Microsoft Corp. MSFT isn't yet a done deal. This has stirred discussion about his potential return to OpenAI. Microsoft has billions invested in the artificial intelligence company.

The tech giant, which announced the hiring of Altman after his departure from OpenAI, remains silent on these unfolding events, according to The Verge.

An open letter that surfaced Monday is signed by nearly the entire OpenAI staff and calls for the board’s resignation and Altman’s reinstatement.

Altman, in his latest post on X, emphasized his and Microsoft CEO Satya Nadella‘s dedication to OpenAI’s success.

“Our top priority is to ensure OpenAI’s continued prosperity. We are wholly devoted to maintaining seamless operations for our partners and clients. The OpenAI-Microsoft partnership significantly facilitates this endeavor.”

In an earlier message, Altman telegraphed a sense of unity and determination within the team: “We have never been more united, committed, and focused. We are all set to collaborate in one way or another, and I’m incredibly excited about it. We are a single team with a singular mission.”

The OpenAI board’s decision to appoint Emmett Shear, co-founder of Twitch, as the new CEO, seemingly closes the door on Altman’s return. Yet the situation remains fluid, with OpenAI employees reportedly boycotting a meeting with Shear, but continuing their operations to maintain the company’s stability.

The dynamics within OpenAI have been volatile since Friday, with a reported mass exodus of employees, including board member and chief scientist Ilya Sutskever, who initially led the charge against Altman. Sutskever’s recent shift in stance, opposing the board.

Market reactions: Shares of Microsoft rose 2.3% Monday to $378, hitting fresh all-time highs. Microsoft’s year-to-date performance has now surged to 58%, marking the tech giant’s best year since 1999.

Chart: Microsoft On Track For The Best Performing Year Since 1999