larry summers – The News Desk

OpenAI’s New Board Takes Over and Says Microsoft Will Have Observer Role

30Nov

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Technology

OpenAI’s New Board Takes Over and Says Microsoft Will Have Observer Role

Updated Nov. 29, 2023 10:42 pm ETOpenAI’s new board formally took over on Wednesday and said it would add an observer role for partner Microsoft, capping a dramatic chapter for the artificial-intelligence startup and launching a new phase of difficult decisions.The new board’s initial three members were decided as part of CEO Sam Altman’s return last week after the previous board abruptly fired him. The replacement directors’ priorities include creating an independent committee to review the events around Altman’s ouster, said Bret Taylor, the board’s chairman.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Sam Altman to Return as CEO, OpenAI Says

25Nov

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Technology

Sam Altman to Return as CEO, OpenAI Says

Updated Nov. 22, 2023 11:09 am ETOpenAI said Sam Altman will return as chief executive of the artificial-intelligence startup that he co-founded, ending a dramatic five-day standoff between him and the board that fired him.OpenAI said the parties were “collaborating to figure out the details.” The company announced the formation of a new initial board that won’t include three of the four board members involved in removing Altman.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Larry Summers Is OpenAI’s Surprise Pick to Mend Fences

22Nov

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Technology

Larry Summers Is OpenAI’s Surprise Pick to Mend Fences

As Sam Altman looks to steer OpenAI through choppy waters following the turmoil of his ouster and return as chief executive, he will be working with an initial board of directors consisting of two new faces—and one holdover from the previous board that fired him. The two joiners are seasoned tech veteran Bret Taylor, who was formerly co-CEO of Salesforce and chairman of Twitter, and Larry Summers, the onetime Treasury secretary and Harvard University president whose appointment surprised some observers. Remaining on the board is Adam D’Angelo, a former Facebook executive and the founder of the question-and-answer website Quora, a potential sign that Altman may not have everything his own way after his dramatic reinstatement late Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Ri...

India’s fintrack agenda may need strong push

5Sep

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Business

India’s fintrack agenda may need strong push

NEW DELHI: India's priorities will need a strong push at the meeting of deputies of the G20 finance track as there has been no consensus on at least two issues - a framework to regulate crypto assets and debt restructuring of vulnerable nations.On the reform of the multilateral development banks, while there appears to be consensus on the need to expand their mandate, it is unclear if countries will immediately agree to provide capital or wait for greater leverage and innovative instruments to play their part.As the deputies of the finance track meet in the Capital, days before the leaders' summit over the weekend, economic affairs secretary Ajay Seth has a tough task ahead of him not only to work out the contours of regulatory framework on crypto assets between G20 nations around the IMF...