CNBC's "Fast Money" Sam Altman Out at OpenAI, Plus Charting the Market’s Monster Moves 11/17/23
Nov 17, 2023
Sam Altman, co-founder of OpenAI, was ousted from the company's board due to lack of transparency, impacting Microsoft's investment. The podcast dives into the recent market moves and the weakening dollar's influence, analyzes Netflix's stock performance and Apple's impact on Tesla's business. They also discuss the divide in private credit access and its implications on businesses and employment.
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Altman's Firing Impact
- OpenAI's CEO Sam Altman's firing is a major event in Silicon Valley.
- Microsoft's shares dropped due to this because they invested heavily in OpenAI.
AI Bubble Deflation?
- Sam Altman's departure might deflate the AI bubble.
- Increased competition for talent and resources in the AI space could follow his exit.
OpenAI's Vulnerability
- OpenAI's decline was already underway due to increased competition.
- Other companies have access to the same technology, making OpenAI vulnerable.