what you heard from satya nadella, are you convinced that market cap sticks?hout him, we've been doing great before, we can do without him, we'd love to have him on the team that's not a necessarily ringing endorsement, but in terms of the stock, it got itself very expensive very quickly now they have to -- it's very hard to continue to build on the momentum they have, in my opinion. >> yeah, great interview and it just seems like it's still a very fluid situation so, i think the stock would have been up 1.5% today anyway, whatever the heck it is. it just seems like there's just a bid for that i give you credit on the other side of the desk, you thought this was going to happen into the holiday season or whatever it just seems like to be a bit of the meltup and it's more of the same microsoft seems to have a lot of optionality in this situation. >> i heard satya say we're committed to openai and sam, no matter what happens. again, there's so much fluidity to this situation. and microsoft views, they have been here before a.i., or before openai, and they'll be

staff follow through with the threat, nadella tells cnbc microsoft is a fantastic home for people who want to continue >> it sounds like he is offering a job. and marc benioff tweeting as well for those employees marc from salesforce silvana, thank you see you in a bit let's see what this means with sara kunst it is always great to see you. good morning >> good morning. let's get into this. you call this a debacle. great word for the situation a lot of moving parts. if it is a debacle, are there winners or losers? >> the funny thing is this whole thing has felt a little bit like a meme stock we are seeing microsoft, despite the chaos, have the best day ever in trading. it is clear the street likes it. i don't know if satya and sam are in it for in sickness and health or if it is clear that microsoft is deeply committed to a.i. they are liking this the reality is this is not a great look for the governing chops of open a.i. and sam altman this is a very, very messy situation. >> microsoft ceo satya nadella spoke with our jon fortt yesterday. one thing he talked about is sam altman chos

satya nadella announcing that altman will join microsoft as the head of the new a.i.rmer board member who quit in solidarity with altman on friday now on the open a.i. side, the startup has the third leader since friday emmett shear is replacing the cto who was named interim ceo after altman's firing. she is staying at the startup for now. how did we get here after the firing on friday there was a blowback from investors, including microsoft, over the weekend which owns a big stake it bought in a deal worth $10 billion. those investors pushed for altman's reinstatement and nadella taking the key role in the negotiations the board refused to restuructur as altman demanded now altman and brockman were brought inhouse at microsoft it is unclear to know the relationship with nadella. altman is well loved inside the company and employees could still lead without him at the helm it is not clear how altman will shape microsoft with the open a.i. technology. >> steve, a lot going on here. bizarre chain of events. this is not that unusual for a founder to leave a company under

nadella says my chance to get this guy wow. david, let's say you lied your darn fool head off -- let's take a big hard pass on that. we've got to keep faber. >> i'm not happy about the black suit today that's the truth >> it's too tight. >> i like that you have suits that finally fit you. >> i just got this 160 count and feels like steel wool >> making you somewhat ma gub yous >> i debated wearing my green suit, i think people might say, you know what, if i didn't watch -- look at this, look at this, look at this is this the valdez scantling is this valdez >> no. >> had she gotten back on the plane, the whole result would be very different the eons tour. in brazil. like sampson anyway, the brother looked good. >> that's a block of television guys well done. >> i still want to know what helen toner knew is it too much to ask? >> somebody get helen on the phone. >> the guy is a serial liar? how about a lawyer let's get a lawyer in here let's get paul weiss the suit. >> you don't like my haircut. >> this is the freebie suit. >> fr

negotiations are furious today satya nadella was on cnbc last night.matively when jon fortt asked him directly if sam altman is coming to microsoft because it is an open question. >> let me ask you this one of the things we have not gotten underneath the story is clearly concerns of board members about how fast the technology is developing and what kind of controls are in place. that's what led to this. maybe those board members were misguided. i don't think we know yet. clearly at this point, somebody has come to the realization that the technology is moving too fast and you weigh that against the company on existing and you decide you want the company to exist rather than moving too fast what do you think was happening on the other side? >> i think the idea the technology was moving too fast and the board had to pause and they immediately fired sam on friday without notice from anyone, including microsoft. as time has run by, that has proven to not be true. the members of the board said that is not true shear said that is not true. there is most malf

our cris satya nadella spoke to emily chang last night.said that she said they were not opposed the return to openai. satya: we continue to be committed to openai and committed to sam and greg and the team, irrespective of where they are. i think about sam has chosen multiple times to work with us and that is fantastic to see. the real thing is the capability microsoft has across the tech stack is what attracts great people like sam, people like sam, innovators like sam when it comes to ai, to come to us, and we are thrilled about it. emily: you incredibly quickly hired sam as well as greg. we are hearing that sam wants to return, investors want him to return to openai. how would you feel about that? satya: as i said, we want to partner with openai and we want to partner with sam. irrespective of where sam is, he is working with microsoft. that is the case on friday and that is the case today and i absolutely believe that will be the case tomorrow. emily: we understand that to support a return of sam altman to openai, microsoft wants chang

we did hear satya nadella signaling his willingness to have altman join openai.a sense when it comes to keeping that talent and loyalty that might be the best case scenario. >> absolutely. i think jay munster as well ranking the order of tech companies who could benefit from this situation but certainly microsoft is most at risk because they have channeled so much money into openai. around $13 billion. they are by far the biggest backer the company. we are hearing those big investors, thrive capital, coastal ventures, they are looking to protect their investment does well in openai. they are also possibly looking to have him reinstated. that is according to people familiar with the situation. since friday as well, sam altman has been keen to return to his position. now of course as we just heard, satya nadella saying he is -- he as well would be open to seeing openai retaking sam altman the company. he did not say there were any conditions other than reshaping the governance structure. we know openai's structure is at the umbrella level a nonprofit organization a

. >>> microsoft's ceo satya nadella says things can't go on like this. >> it is clear something has tohange around the governance if that is -- we'll have a good dialogue with the board. >>> nvidia rides the a.i. wave with shares closing at an all-time high as they report a 70% revenue growth. >>> u.s. secretary janet yellen says they will fight against inflation, but says there is more to be done in a cnbc interview. >> we're making considerable progress in bringing inflation down, but americans do know this from higher prices with what they are used to be accustaccusd >>> and volkswagen is marking the 15% gain thanks to france, italy and spain. >>> warm welcome to "street signs. let's get to the top story this morning. the open a.i. saga continues to roll on. more than 90% of the 770 employees have signed an open letter to the company's board. threatening to allow sam altman and greg brockman to microsoft unless all current board members resign unless they reinstate the pair employees expressed support for the ousted members as negotiations over the future drags on some open a.i. inv

satya nadella's argument is, microsoft uniquely has now chips, that data center architecture in azure. they've got windows. they've got this open ai partnership. and they've got productivity software that people are actually using that's different from what amazon and google have, right, for instance. so expect them to push all of that co-pilot is what they're talking about, this ai assistant, that now microsoft has built throughout these productivity products and the argument that they're making is, hey, we'll save you so much time, make you so much more efficient, make your work so much more joyful with these copilots that you'll be willing to pay 30 bucks a month more on top of that. we'll get some data today from them on how that's shaping up. see if developers are convinced here so all of that's the context where microsoft is really trying to build on the cloud success that they've had over the last decade of satya nadella's leadership and turn that into success in this next decade, that we can now clearly see is going to be mostly defined by ai, carl >> haven't heard ai describe

investors are pleased that ceo satya nadella has hired sam altman. >> all right. jo ling kent, thank you. >>> the "cbs overnight news" will be right back. do you shop for vitamins at walmart? force factor products powerfully improve your health, but they're also delicious, easy to use and affordable. that's why force factor is now the number one best selling superfoods brand in america. unleash your potential with force factor at walmart. my frequent heartburn had me taking antacid after antacid all day long but with prilosec otc just one pill a day blocks heartburn for a full 24 hours. for one and done heartburn relief, prilosec otc. one pill a day, 24 hours, zero heartburn. it ain't my dad's razor, dad. ay watch it! it's from gillettelabs. this green bar releases trapped hairs from my face... gamechanga! ...while the flexdisc contours to it. so the five blades can get virtually every hair in one stroke. for the ultimate gillette shaving experience. the best a man can get is gillettelabs. honey... honey... nyquil severe honey. powerful cold and flu relief with a

. >>> microsoft ceo santia nadella says he's encouraged and it's essential to a more stable and effective governance he said he's looking forward to building a strong partnership. arj, so pleased to have you back, so many twists and turns it was the first i read when i woke up that larry summers will be returning give us the detail about what we know about the agreement that's coming together this morning it's been such an extraordinary few days. >> it really has it's been a roller coaster the exact details are being hashed out you read out the board details and the aim of that board is really to address some of the gosh nance concerns around open a.i. and that led to the ouster of altman. again, a company that's gone public, that's had that scrutiny of a public market structure that is able to bring that experience to the board and what is a rapidly evolving technology and a fast-paced industry right now. i think that's really what they're trying to aim for in terms of the board conversation. interestingly microsoft has been a strong, i guess, force behind what's happening in terms of ge

sam, is it too early to call satya nadella and microsoft and sam altman the winners here?at led to his ousting in the first place d >> at the end of the day, people don't know from a tabloid perspective, nothing could be tastier than figuring out what happened this will be fun for a lot of people from a purely tabloid standpoint for a long time to come the reality is we do need to see a report from someone about how this all transpired and what happened i think there's some confidence or trust, at least in satya nadella, that he wouldn't have put this together if anything truly bad was happening -- >> but he didn't even know, he didn't have a board seat, right? this reportedly came as much a shock to him as everyone else. >> i think that's true there's no question that microsoft and he were shocked by how this all played out over the last many hours. this is what happens when you have a turducken organization, a for-profit wrapped in a nonprofit. let's not do that again. i think the reality is is that i at least have enough trust in satya to have put up guardrails on true

late today microsoft boss satya nadella explained his decision to quickly swoop in and hire altman. >> in this moment, what is it that i care about? i care about just making sure that we can continue to innovate. and as i said, i feel very, very confident. quite frankly, microsoft has all the capability to just do that on our own. but we chose to explicitly partner with openai, and we want to continue to do so. >> satya nadella on cnbc late today. then there's this. a revolt at openai. more than 700 of the company's 770 employees have signed this letter saying they're going to leave the company unless the board resigns and altman is reinstated. and not just microsoft, other major companies want to hire the disgruntled openai employees. that includes salesforce boss marc benioff. he posted on twitter saying that salesforce would match the compensation of any openai researcher. joining us now is nbc's scott mcgrew, one of our business and tech reporters. scott, nice to have you on the program. so we've been doing this for a long time. you've been doing this for a long time in the silico

satya nadella, microsoft ceo, speaking about altman's return, releasing this statement.ention the board as well. we should talk about some of the turnaround stories in terms of what the board actually looks like because there are new names. brett taylor, former co-ceo at salesforce, board member of shopify, a real veteran of the silicon valley, not to mention chairman of the board of twitter. we have larry summers, a contributor to bloomberg's "wall street" programming as well. as well as adam d'angelo, most well-known for being the founder and ceo of cora, who voted to have sam altman from leadership altogether. some of that makeup of the board still in conversation. we will bring you more headlines as we get them. let's get some immediate analysis. matt bloxham from bloomberg intelligence right here on set to walk us through it basically. there are some big names. we will put sam altman aside, but brett taylor, adam d'angelo, larry summers, these are massive names. is this going to add some value? matt: i think so. what's also interesting is this seems like it is an in

does satya nadella want to be in front of congress saying i built that he'd rather have sam altman do that there's reputational costs the money isn't a big deal then there was the time. sam altman and satya nadella, if you've seen a stage in silicon valley, they were staying there together now you have to rebuild from scratch. that partnership gets shaken up. the question is how fast they can do that. it won't be snap your fingers and get these models working off the bat. it takes time. and that can be costly >> malcolm, lastly, we'll talk about ai tomorrow as we lead up to "overtime." nv nvidia, $400 on halloween and now over $500, at the highs of the day. what should we expect here >> yeah. i think for one thing, scott, i want to go back to a statement you made to me last time i was at post 9 with you, which is, this is why it's so tough to time in and out of these megacaps because you never have a clue what the next thing is that's going to happen for nvidia, the conversation has shifted from microsoft just trying to compete with them in the chip space to the incumbents have now be

but this is the best nadella was a big force in getting altman back to openai.hat could give the ceo more influence over the future direction of openai. also remember it's a startup it can move fast and nimbly and needs to, especially with so much competition in the space with the likes of google and thropic as well. it's hard to innovate, and things get slower. it's best for microsoft that openai stays separate with sam altman at the helm and that's really the outcome. >> we do have a couple of loose ends here. as we mentioned, some board shakeup here also as part of this news, we learned that openai was reaching out to anthropic as a merger are there any loose ends that need to be wrapped up in the near term or some that will play out longer >> we haven't gotten news of that what i expect from here is really a much closer working relationship between microsoft and openai look openai is going to be key with how microsoft wants to stay ahead amongst the cloud players when it comes to the players as it faces stiff competition if-- from amazon. i expect open conve

and ultimately it's really now microsoft and nadella that are going to own openai in terms of altman and brockman and everyone at microsoft and now openai for all intents and purposes is almost a shell company. everyone now goes to microsoft i would argue that microsoft is in a stronger position today than they were in the twilight zone scenario, than they were before this all started on friday and i think it's an example of this board were like 8-year-olds playing checkers and nadella, the grandmaster chess player, ultimately is the one that swooped in, and now it's microsoft for the strivictory. >> the only question i have, what about the chatgpt product it's still an openai product this company is now in complete disarray and there are clients who are trying to figure out because they have to use it today and tomorrow and the next day. do they need to quickly find a substitute or not? >> to that point, the software has already been fully integrated and steve knows this, that's the key where the technology is. so microsoft felt they were in a position of strength to do this as well

rishaad: satya nadella speaking with our very own emily chang.on at openai and get to the bottom of what is going on. annabelle droulers is with me now. what is this telling us about the maturity of the industry? >> it is a big question coming out of it. rishaad: and what about the key man who is object of everyone's desire or not? annabelle: you have sam altman and everyone else who wants to follow him. the board underestimated how much backing sam altman had in this scenario, so that is one thing that has become clear. it is that key man risk and a very old business phenomenon, but something that seems to be the case here because what is openai if sam altman is not that? could the company survive if 200 people left? that is not likely, so that was something underestimated and raises the question, you have a company supposed to be at the center of the ai boom. is it really ready to be balancing the needs of different stakeholders? and also the huge responsibility that ai technology brings because this is a new frontier. there is a lot we do not

our reporting saying that satya nadella was stunned by this announcement on friday. particularly as it came through just days after the development summit led by openai. satya nadella was on the stage with sam altman. the reporting suggests a, nation of factors. one, concern about the risks of how quickly this technology was being developed at openai. sam altman was driving the commercialization of this project. the other was about, it seems, some of the other business projects sam altman was building up to raise funding for chips around ai. he wanted to start a business on that front. and also, possibly as well, reporting around working with the former chief designer at apple to come out with some hardware projects. he was making the rounds globally to raise funds for additional projects, but at the heart of this, this question about how quickly these projects were being commercialized at openai. which don't forget was founded as a nonprofit. that tension exists as a result of the legacy of a board that was appointed around the nonprofit that has this commercial arm

. >> is the winner satya nadella and microsoft?ning effectivelyopen ai and have 49% stake in it, short-term win or loss because they're spending money faster than they're taking in money >> clear winner is definitely microsoft on this. the $13 billion or so that they put in, they could write off this company, he's reached all-time highs in the value of microsoft stock. last year, at our croweo summitw made him the ceo of the year because his stock was up in part because stock was up 1,000% since you became ceo in 2014 it's doubled since then. up 2,000%. focussing on innovation, focussing on trust so he has a very attractive culture to bring these 700 plus employees on board if that's the way to go from open ai if not, he has a great relationship with open ai. but he was so nimble i think marc benioff was impressive that he tried to get them over to salesforce. wow, satya nadella he didn't care how this is going to work out. he has a home for them, provided a safety net a huge amount of credibility for microsoft. >> i think a lot of

i guess first of all, this means nadella said, hey altman, if you come anybody who wants to follow you from openai will offer them a job too, right? this is, i mean, a huge commitment, but okay, talk about the competition , right? microsoft is in the game. you know, they have bing chat, google has barred meta has a i don't know what it's called, but everybody's getting in on this ai chatbot advanced ai. tell us why it's so important and why they're all trying to win this game, right? >> so it's not just google and meta and microsoft and openai. i mean, there are probably at least 10 to 20 chat bots that are sprinkling sprinkling up right. and they all want market share, right? they want advertisers, they want revenue because people are using chat bots, right? you can use it for simple things. you can use it for summarization. you can use it for planning an itinerary. right you can do if you want a summary of your linkedin profile that would take you half an hour to put together. guess what? it can do it in five minutes. right? so there are a lot of everyday use for chat like technology

certainly a victory for nadella who handled this. stock killed friday and now, of course, rose quickly, and he managed to finesse a really bad situation by a board i'd have called incompetent. agree with employees of openai and does need to step aside how they handled this. might have disagreement but this is not how -- one of the most important companies of the a.i. age, at least. >> zero in on the disagreement. new company, ceo third in three days calling for investigation into altman's firing. what ultimately preceded his firing? what was the disagreement? do we know? >> i do not. tried to get that out of them. one of the issues. lack of transparency. kind of said he was a liar, but then didn't say what he lied about and they wouldn't be open about it. one of the people who led the firing has now recanted saying that he supports sam altman. signed that letter, which was weird. the chief scientist. a well-regarded technologist and was right in the middle of it and suddenly he wrote an "i'm sorry" on x this morning. so i don't know.

. >>> satya nadella is leaving it -- nadella said he's open to both options, meaning that they could stay at microsoft or go back to openai. this comes after about almost 700-plus employees of the 770 employees of openai signed a letter threatening to jump ship if the board does not reinstate altman. >> microsoft's stock, by the way, the company stock soared yesterday to the highest ever closing price. cnn has also learned that altman was ousted because he wanted to move faster than the board did. certainly not the last we've heard about that. >>> more to come. >>> we should more know about the hostage deal. stay heat with cnn for that. he s one grocery store will stop at nothing to make sure you save more on the brands you love. starring produce, and...... you... as the super saver, in....bargain bliss bliss, bliss, bliss todd we talked about this. our deals are just so epic. i know, todd. i know. ♪ grocery outlet bargain market ♪ ♪ >>> a deal to free a significant number of hostages held by hamas terrorists could come as soon as today. that's the latest word from mult multiple sour

how big of a coup is that for satya nadella and how does he view the investment in open a.i. >> i lookt it as damage control. microsoft has got $11 billion invested in this company as a result of that, a large amount of value is tied up in the founders and engineers in the company. more open a.i. starts to move to microsoft and it will follow sam altman there he could view this as stage one of what i always speculated would happen which is a complete acquisition of open a.i. by microsoft. stage two is it acquires all of the agolgorithms left behind. >> the foundation of the hype with artificial intelligence going back a year ago when microsoft disclosed this stake and now that there is some much going on within the company and could co-founder left and going microsoft and what does this mean for open a.i. which was seen as the trailblazer? >> i don't think it means enormous amount. the technology of large language models are fairly established. open a.i. still has a significant lead in making high quality large language models. open a.i. was the giant in the industry if it implodes, it

just days after the home of chatgpt ousted altman as ceo a push to reinstate him be fall short, and nadella said they have to provide the resources needed for their success he remains committed to their partnership with ai working with the interim ceo shear who previously ran twitch. he explains to viewers how much this matters, some of the names our viewers may not know >> right i think that this was a real company. i mean, it was valued at a price that i thought might be the number one ipo whenever it comes. it had a lot of fire power obviously ai is the thing that's going to drive the next level of the magnificent seven and i feel, david, that it's -- the open rebellion and the idea this company could disintegrate because the letter from employees, it indicates the company may dissolve. >> this is just a shocking and fascinating story in so many ways obviously you talk about a potential ipo at some point. you have to remember it was the unique structure of the company in and of itself that allowed this board to take the action it did for really what are still undetermined reasons sadly i

jonathan: satya nadella surprised speaking to emily chang.alks unify the company after hundreds of staff threatened to leave following sam altman's firing. employees writing we are unable to work for or with people that lack competence, judgment and care for our mission and employees. microsoft hiring ultimate to lead a new ai group. saying we believe this ultimately benefits microsoft as its ai halo and further controls its destiny. they are in a stronger position now than before when it comes to ai. outperformance on the stock on shares of microsoft. tom: this is the interview of the day on this. how do you get to nvidia does not cover over to the sophomore world of microsoft we know. at rbc capital markets. a boutique firm of incredible ability. they are going to walk in, two guys, a five guy's 500 engineers and they will make two chips or whatever to compete with nvidia. why does microsoft have to compete with nvidia? >> thank you for having me. one is we can all look at nvidia with margins, the rally the stock has had in the revenue grow

. >> that's what nadella came in and did. he said from day one, i'm going to come in, we're going to be a cloud first company. at the time, that sounded kind of boring and not as exciting but boy, has it paid off nine years later. here we are talking an the most exciting technology in the world. it's coming out of microsoft. >> so can apple then compete as a non device company and become more of a software or a, i lmea to say it's not a services company is to miscalculate and misappreciate apple. but can it, you -- he said we're investing a lot of technology and wouldn't be the first time apple has come in but right now, they have nothing. there's no sign of what could be improved or what they could do better. if anything, it would be more of a kind of lock in to the iphone that just keeps you buying iphones. that's what they do. it's why the services business is so important to them. maybe that's part of it. but it's really hard to see right now what could be done to kind of counteract this. not only just the revenue opportu

mass exodus of people following sam altman, to the entire company virtually leaving, then to satya nadellahas the most astounding hiring of sam altman, since he is the investor in openai, which she exited from. i just don't know how to add it up. i have been in the venture business 50-plus years and i've never seen anything like this. i don't know where it is going to end. have a play acting out live, in full color, and it is changing by the moment. guy: does this change in any way the way you think about investments in ai? one of the lessons is that people are really important, and that we still have not figured out some of the governance around these issues. what are we learning that is useful as investors other than the fact that we need to watch a lot more monty python? alan: when you think about the fact that, as i read in the paper, it was virtually, we were on the threshold of an $86 billion secondary purchase, and of course that has gone awry, i'm certain. to think about the vulnerability of these fast valuations from zero to $86 billion in a matter of 12 months, it's got to give y

years ago, and satya nadella said on search, we will never beat google at the game where somebody puts in a search term and we return ten blue links. so what is different now the way that we use google is we ask a question and we get a bread crumb trail of links to follow to find out the answer. chatgpt enabled microsoft bing just gives us the answer, no links. and one of the brilliant things, one of the many brilliant things that sam altman did, if you use chatgpt, when you ask it a question, it does that dot, dot, dot, and it takes a beat before it starts to print out the answer do you know that that's actually deliberate on sam's part to give you, the user, the impression that there's some sort of magic happening behind the scenes? it actually doesn't need that pause. it could start spitting out the answer within a nanosecond if it wanted to. that's the level of thought that's gone into that chatgpt product, and giving people the answer versus google, which tells you where to find the answer, that was the horse race. i still think that's a threat to google, and i say that as an alph

executives with microsoft ceo satya nadella that were extremely excited to share the news of sam altman and greg brockman and several others will lead a new a.i. research team. the microsoft deal might've been a holding pattern just for now for altman according to the verge. this is after altman this afternoon just tweeted and hinted that he might be back at open a.i. writing that we are all going to work together some way or another and i'm so excited, remember that microsoft is the biggest open a.i. investor, they committed at least $12 billion but the first person to actually invest or donate at the time to open a.i. was elon musk, elon musk tweeted is very important for the public to know why the board felt so strongly about the actions if it was a matter of a.i. safety, that would affect all of earth. also this morning over 70% of openai staff have now threatened to quit and join almanac microsoft if the board did not resign in altman is reinstated. even the alleged coup leader says he is regrets on the board's actions this weekend. as of the apex ceo summit listening with sam a da

and said they are fraventicily fra frantically reaching out to them on linkedin and it's what satya nadella tweeted at the end we look forward to moving quickly to provide them with the resources needed for their success. that word resources is key because the generative ai development rests on compute power and that is why open ai has the huge deal with microsoft and how those employenses are al to leave and it is unclear what kind of i.p. and technology they can take with them >> eli, do you think as the market seems to think this is all just a huge win for microsoft. the shares were initially lower on news of the whole implosion because they own 51% of open ai and now they're at an all-time highs because they get the talent and they get to bring it inhouse to quote who had a fun line on this who said you can make the case that microsoft just acquired open ai for zero dollars and zero risk of an antitrust lawsuit. what do you think? >> i think if that works out, it's great the story for the weekend for me is there was always a ticking clock on this crazy back and forth. microsoft needed a

microsoft's ceo satya nadella has been speaking out and says he's open to altman returning to openai,rosoft hired altman and former openai or president if greg brockman to head up microsoft's new a.i., their new research team. satya does say that governance if needs to change at a openai which is a bit unusual since it is owned by a nonprofit. but then it operates a for-profit arm that makes money off chatgpt and other products that they make like dolly. microsoft is the largest investor in openai, private investor, along with venture funds like thrive and tiger global. now, those three, other three besides microsoft are still reportedly trying to wrangle and pressure and bring sam altman back to openai after friday a's shock firing. meanwhile time, you have reports that investors are suing, accusing the board of destroying investor value by unilaterally firing sam altman without any consul consultation. as for altman himself, he and satya are focused on openai continuing to thrive. companies are taking advantage of the chaos, salesforce's ceo saying he'll hire any openai researchers

nigella -- nadella will be unlikely to join the board himself.by a group of executives and investors to reinstate sam altman to his will as ceo reached an impasse over the weekend. we continue to bring those latest developments as they come to us. taiwan's china friendly opposition in disarray talks for an alliance stumbling ahead of those january elections. javier milei wins argentina's presidency on a platform that in to shut down the central bank. this is bloomberg. ♪ shery: we continue to see the high-stakes drama happening at openai right now after its ceo sam altman was fired on friday. we are hearing information that microsoft is eyeing a seat on openai's revamped board to, but over the course of the weekend we kept hearing perhaps sam altman would be returning, but he wanted to see some governance changes if he was in fact reinstated as ceo of the company, and this is such a groundbreaking ai company. the maker of the popular chatgpt. haidi: synonymous with this entire phenomenon. you mentioned those changes that we need to weapon what it

microsoft ceo satya nadella was ready to hire all of them.oard is ready to take charge and altman is back as the company's chief executive. he posted on x saying he was ready to move to microsoft, saying it was clear that this was the best path for me and the team with the new board with satya support, i'm looking forward to returning to openai and build on our strong partnership and partnership with microsoft. altman did go on to mention that he was very excited about what the future of openai could be. a lot of that future was in doubt just days ago, but now he is returning to the company's us office as their chief executive just another chapter in what was been a wild saga the last few days. live in san francisco, ryan curry, abc seven news. >> fascinating. ryan thank you. this morning, there's another major scandal in the world of digital currency. the ceo of cryptocurrency giant binance is accused of helping criminals, rogue nations, even middle east terrorists. abc news reporter andrea fujii has more on these stunning allegations this m

microsoft ceo satya nadella says they were ready to hire all of them.nd altman is coming back as the company's chief executive. altman posted on ex, saying it was clear that this was the best path, best path for me and the team with the new board and with satya support, i'm looking forward to returning to openai and building on our strong partnership partnership with microsoft. he did sound like he was very ready to go to microsoft and have that be his new project and now, now a turn of events in this whole saga. he is now going back to openai, where he was at for years and helping found the company. and just another crazy chapter. and what has been a saga for this artificial intelligence company. we're live in san francisco. ryan curry, abc seven news. sure is. >> ryan thank you so much this morning there's another major scandal in the world of digital crypto. digital currency, i should say. the ceo of cryptocurrency giant binance is accused of helping criminals and rogue nations. the feds accused binance and its ceo, changpeng zhao, of processing more

. >> reporter: final question for you, satya nadella, a lot of heavy hitting investors and business people in the silicon valley stepping up publicly to essentially demanding that altman gets his job back. have you ever seen that dynamic before? >> have i never seen that before in all these years. at least it wasn't as public. but now founder ceos are in the media, we know a lot more than we did back in the days when steve jobs was fired the first time. this is unprecedented in terms of loyalty from the industry leaders, loyalty from his own employees, and everyone who wants sam altman back. >> okay, well, it's all part of your research. good luck with everything. thank you for joining us on this thanksgiving eve. dr. priya kanaan from san jose state. >>> we mention friends and family for thanksgiving. we know now days it costs a lot more money to feed everyone. and many of our bay area families are struggling. we told you this about yesterday. horn barbecue in oakland went up in flames, but that didn't stop the restaurant from hosting its annual turkey giveaway. this is today, just after

research team according to the post on x by satya nadella, the ceo of microsoft the chairman of the board greg brockman as we will join on friday afternoon, four open a.i. board members voted to fire altman as ceo. the potential dangers over artificial intelligence and the board did not believe altman was communicating honestly with them altman was notified on friday that he had been fired then greg brockman, the chairman, was stripped of the role and told he would be ceo, but quit in protest. others also resigned this stocked the employees and major investors including microsoft which did not know any of this. they were told after the fact. they pressured the board members to bring altman back on sunday, altman posted a photo at x wearing a visitor badge saying first and last time i wear one of these. i think with the hope of working there. talks between altman and the board reached an impasse over the makeup of the roll of the board. the microsoft ceo announced that altman would join the new microsoft research team. open a.i. has hired former twitch ceo emmett shear. i'm told when that

he had just been hired to lead its new artificial intelligence team, satya nadella, the ceo of microsoft, who has a very expensive investment in openai, ended. hiring away sam altman and his co-founder greg brockman, who also left to build essentially a competing ai advanced research lab. >> microsoft. and altman are both tweeting minutes apart tonight. >> both say they are pleased with this new separate arrangement and look forward to partnering together on the future of ai as part of the agreement for altman's return, a new openai board will be chaired by former salesforce ceo bret taylor, former treasury secretary larry summers and current board member adam d'angelo. the co-founder of quora. new developments tonight on a story and a piece of video that we showed you here last night exclusively. a mother charging onto a basketball court in the east bay and grabbing a boy who was scuffling with her son. the video went viral and many are furious about what they saw and what didn't happen afterward. tonight, abc seven news reporter j.r stone with new information from police. who this scuf

has a bottle of champagne with feet on the desk, they know that microsoft is going at it. >> nadellaassy is another one, recognize. you look at what google is doing as well. the install base plays here are going to play out. m&a, cisco-splunk, tip of the iceberg to what we will see here what i view as more tech friendly despite ftc where tech is not afraid of that given what we've seen with microsoft and activision and others. >> we will hear from microsoft this week as well. dan ives. >> huge week for retailer names, walmart, home depot and target among the names set to report cnbc is teaming up with the national retail federation and data insights company affinity solutions to launch a real-time how much and where american consumers are spending each month. to steve liesman with the details. >> it's exciting. thank you. the cnbc retail monitor powered by affinity solutions launching in october with a decline of 0.8%. our number and core retail takes restaurants down 0.3. both are down from gains in the prior months year over year, the headline down 2.6 versus 4.9 and then the core

satya nadella, microsoft ceo, has played a0 chess and won. right.cessful, talented ce05 in al to work in house. and he's bringing all this top talent. what you have to understand is, is microsoft has a deal with 0penai is microsoft has a deal with 0penai and it's very, very expensive. microsoft is essentially financing all 0penai's ai development, but this is them getting it all in house cheap. they don't have to pay a lot of money, you know, for 0penai to do this stuff when they can do it themselves. so this is a great move and a big win for microsoft. 0kay. 0k. win for microsoft. where does it leave 0penai? that's a great question. some altmann was sacked because a group of people at 0penai think that, well, we don't know the details, but what we do know is that there are these this battle between people who think you have to launch ai, you have to put it into products. you have to make money to make ai. and other people who think that moving too fast, fast risks creating a. that could have devastating consequences. these a. rumours and ai rumors

eastern time for a special report with jon, satya nadella. mad money with jim cramer starts right now. >>> my mission is simple. to make you money. i'm here to level the playing feel for all investors. there's always work. i promise to help you find it. mad money starts now. s hey, i'm cramer. welcome to mad money. i'm trying to make a little money. my job is not just entertain but to help you. tweet me. in this business, it's the percentage game not the absolute number of points which is the hope for so many. right now as we interview end of the year, it's obvious a monster amount performed 2023 comes to the magnificent 7. that includes the dow gaining, s&p 500 jumping and nasdaq 1.13%. success is so palpable, in your face that people tend to these these stocks are the market. for 2023 they kind of were. how about 2024? will they change? will we see it gravitate away for other parts of the market? two thing happen before we move on. either huge companies need to stop doing so many things right or the rest of the s&p 500 needs to stop doing s

nadella said he was excited to share the news that they will join microsoft.rovide them with resources needed for their success. if you can't beat them, hire them. the board said he was 23409 candid with the board. he writes, this is like reading your own eulogy, tell your friends how great you think they are. >> carley: formula one front is interesting. >> cheryl: look at celebrities and our colleagues having fun at formula one. not on thursday night. a lawsuit brought about because of thursday night practice session. this driver damages his car, 2-1/2 hour delay, pick up at 2:30 a.m. friday morning. most people had left. formula one says here is $200 discount at our gift shop. >> carley: got it. >> cheryl: sat around and class-action lawsuit now says it has been filed and formula one says our top priority is safety and security of our drivers, employees and fans. you sat around for 2-1/2 hours with no information and you are like, i'm leaving. >> todd: formula one drivers are just like us. thank you. >> cheryl: see you tonight. tree lighting. >> todd: will s

he had just been hired to lead its new artificial intelligence team, satya nadella, the ceo of microsoftensive investment in openai, ended. hiring away sam altman and his co-founder greg brockman, who also left to build essentially a competing ai advanced research lab. >> microsoft. and altman are both tweeting minutes apart tonight. >> both say they are pleased with this new separate arrangement and look forward to partnering together on the future of ai as part of the agreement for altman's return, a new openai board will be chaired by former salesforce ceo bret taylor, former treasury secretary larry summers and current board member adam d'angelo. the co-founder of quora. new developments tonight on a story and a piece of video that we showed you here last night exclusively. a mother charging onto a basketball court in the east bay and grabbing a boy who was scuffling with her son. the video went viral and many are furious about what they saw and what didn't happen afterward. tonight, abc seven out and his family were already gone. >> we had just that, that one side of the story at th

jon: a final question for me, and certainly i would never criticize satya nadella. ceos in corporate america. but clearly some missteps. what do you think the lessons of the last week will be for him and for microsoft? mandeep: i mean, when you make a $13 billion investment, take a 49% stake in a company, you take a board seat as well so you know what is going on. in this case they were blindsided by the developments, and he mentioned that, and clearly i think that was the lesson for microsoft here. jon: thank you, sir. mandeep singh of bloomberg intelligence. we have said this is not someone like satya nadella does business, but it clear missteps on microsoft's side. tom: they are saying this is a microsoft victory. i will let you explain how. but i do agree, the shock of this within the niceties of the foreignness of seattle and silicon valley, i mean, -- lisa: it is a victory because they are going to win no matter what. they have a 49% investment. in this case they preserve their investment, and there ai capabilities have just been highlighted. tom: but there is

up 12% for the month overall with the openai saga for the com the view has been satya nadella has endedp stronger and microsoft stronger after the back and forth with sam altman and the back and forth as the head of openai. earnings have been resilient across the tech sector. hoping to boost the opt miss i am woptimism with the growing rates expected next year. citigroup up 16%. jpmorgan chase up 10%. strong performance with the banks. and the laggards here as you see. joumanna, with the strong performance with stocks and bonds is what brings on the ga gains for 2024 is what has been priced in? >> everyone was saying we will see margin compression, margin compression, margin compression. that was october. now people in november are talking about the macro. november was the month where vo started thinking about not just hi higher, but what happens when something breaks? the central bank is not ready to talk about rate cuts and the market doesn't care. they are pricing in 100 points of cuts mennext year. that is the catalyst for the strong performance in equities for the month of november

capitalism satya nadella was talking about. that only works if we serve culture and humanity needs as well that will be debated here. >> maybe you can serve humanity's needs without being a nonprofit. deirdre, thank you deirdre bosa and then can you raise money and keep investors happy >> exactly we'll get nvidia tonight and talk about it in the morning let's get to "the half." >>> carl, thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, the countdown to nvidia earnings, what's really at stake for that stock and for the tech trade at-large the investment committee on the case joining me josh brown, stephanie link, amy raskin, jim lebenthal. a lot of nvidia shareholders today, which is a great thing. let's check the markets. we're in the red we've had this winning streak for five days in a row for the nasdaq, look at the 10-year note, 4.40 josh, let's start with you you are the nvidia person for the longest time what's at stake tonight, do you think? >> i think they're going to have to

that is for you stuart varney, let's start with microsoft, what is satya nadella saying about his returnncouraged by the changes to the openai board. we believe this is the first essential step to the more stable well-informed ineffective government. they were caught off guard when the face of artificial intelligence sam altman is given the boot at the company. they like there's a new board and things are returning back to the new normal. unclear microseconds more control if the board is seen on this newborn and if microsoft takes on a big role they do risk regulators crosshairs. the farm equipment maker, the green and yellow folks dear reported, down nearly 6%, what went wrong. >> they said that they expect all the businesses that they operate to see sales decline by at least 10% this year. ouch. it is expensive to buy farm equipment and there is a high cost of borrowing right now facing farmers a nag companies that's why the stock is down 6%, caterpillar arrival down in sympathy. the deal is that caterpillar is a dow stock so when this is down, that is shaving point and is shaving 50 p

nadella also tweeted they remain committed to openai.oning that microsoft has a $13 billion stake in the company. that was an interesting development. as for open ai itself, twitch's co-founder would come on. at the same time, many employees have announced their intention to leave open ai and potentially join sam altman who officially will join microsoft. lots of moving parts. it's been quite a bit of a dramatic weekend. openai isn't an open capitalization, but the perception of how they handled it is pretty bleak. >>> one other headline, opec is looking on whether to make additional cuts when the group meets in a couple of days. >> the oil prices continue to plummet despite everything we've seeing, despite the flaring tensions and the fact they've instituted all these supply cuts. right now brent is sitting at $82. a drop from october. it wasn't that long ago we were talking about $100. there's an opec meeting coming up. there's talk that saudi arabia, russia, and others will continue with their output cuts ofaround 5% of global demand

microsoft's interest in investigation investment in openai, and it has the ceo of microsoft, satya nadella. they won't be surprised when, say, oh, ceo sam altman is fired. sam altman is not on this new board, and openai is ran like the a nonprofit. they don't answer to investors. their financial backer is microsoft. they answer to humanity and advancing technology to benefit humanity. stuart: we're often aa caused of spending too much -- accused of spending too much time on microsoft because i do own a thin sliver of it. you own microsoft too, don't you? >> absolutely. i think you have to own it. for me, american ingenuity portfolio, that, to me, is core inyes e knewty. as for what's happening with openai, it was a little weird from my point of view that microsoft didn't have a board seat before. i think it's still a little weird that it's a non-voting board seat now that they finally have one. remember, microsoft owns 49% of openai, and it's been valued at as much as a $100 billion. the question is, do they monetize it, or do they, as lauren pointed out, leave it for the men benefit of hu

suddenly, satya nadella, the ceo of microsoft gets to call sam altman, and the former chairman of the board and gets it essentially for nothing. it puts microsoft into the running alongside alphabet, meta, and other players in ai. suddenly he has his own lab run by the top people of ai and looks as if the internal people inside ai are threatening to join microsoft to do that. and, again here, chris, we don't know why he was initially fired. whatever it was, microsoft doesn't seem to be concerned about it. sam altman, the face of ai works for microsoft. this is changing hour by hour. we'll stay on it for you. >> keep us posted thank you. >>> the gag order hearing, and whether they can be used to make his case. we're back in 60 seconds. can't stop adding stuff to your cart? get the bank of america customized cash rewards card, choose the online shopping category and earn 3% cash back. he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. l