On Friday, the board of OpenAI, the buzzy AI company behind viral chatbot ChatGPT, suddenly and publicly ousted its CEO Sam Altman. The announcement came one day after he appeared publicly on behalf of his company at Thursday’s APEC CEO Summit.
OpenAI’s board said it conducted “a deliberative review process” and that Altman “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”
“The board no longer has confidence in his ability to continue leading OpenAI,” the board’s statement continued.
As of this week, OpenAI’s six-person board included OpenAI co-founder and President Greg Brockman, who was also chairman of the board; Ilya Sutskever, OpenAI’s chief scientist; Adam D’Angelo; Tasha McCauley; Helen Toner; and Altman himself. The company began publicly posting its board’s member list on its website in July, after the departures of LinkedIn founder Reid Hoffman, director of Neuralink Shivon Zilis and former Texas congressman Will Hurd.
Here’s a rundown of the board behind the controversial shake-up:
Greg Brockman: An OpenAI co-founder, Brockman quit his role at the company on Friday in protest of Altman’s ousting, saying publicly, “Sam and I are shocked and saddened by what the board did today.” Brockman spent five years as CTO of Stripe before moving on to help launch OpenAI. In 2020, Brockman said OpenAI’s top obstacle in its first five years was the idea that making the full extent of the startup’s work public wasn’t necessarily beneficial for humanity, in his eyes. At the time, he said, “We realized that as these things get powerful, they’re dual-use…and that we as technology developers have a responsibility to not just say, ‘Hey, we built this thing, it’s up to the world to decide how to use it.'”
Ilya Sutskever: As of now, Sutskever is the sole remaining OpenAI co-founder on the board. After co-founding DNNResearch — an AI startup focused on neural networks — and selling it to Google, Sutskever joined Google as a research scientist and stayed for nearly three years before moving on to OpenAI as a co-founder and research director. Since November 2018, he’s been the company’s chief scientist.
Adam D’Angelo: The current CEO of Quora, a social platform for questions and answers, D’Angelo spent nearly four years at Facebook and was CTO of the tech giant from 2006 to 2008. He is not an employee at OpenAI.
Tasha McCauley: McCauley, who is not an OpenAI employee, is on the board of directors of both OpenAI and GeoSim Systems, a geospatial tech company. She is an adjunct senior management scientist at Rand Corporation and has been on the OpenAI board since 2018.
Helen Toner: Toner is a board member and non-OpenAI employee who spent time at the University of Oxford’s Center for the Governance of AI, and has been a director of strategy for Georgetown’s Center for Security and Emerging Technology for nearly five years. Last year, Toner told the Journal of Political Risk that, “Building AI systems that are safe, reliable, fair, and interpretable is an enormous open problem… Organizations building and deploying AI will also have to recognize that beating their competitors to market— or to the battlefield — is to no avail if the systems they’re fielding are buggy, hackable, or unpredictable.”
Earlier this year, Microsoft’s expanded investment in OpenAI — an additional $10 billion — made it the biggest AI investment of the year, according to PitchBook. In April, the startup reportedly closed a $300 million share sale at a valuation between $27 billion and $29 billion, with investments from firms such as Sequoia Capital and Andreessen Horowitz. Despite its significant investment, however, Microsoft has no board seat at OpenAI.
“While our partnership with Microsoft includes a multibillion-dollar investment, OpenAI remains an entirely independent company governed by the OpenAI Nonprofit,” OpenAI has publicly stated. “Microsoft has no board seat and no control. And… AGI is explicitly carved out of all commercial and IP licensing agreements. These arrangements exemplify why we chose Microsoft as our compute and commercial partner.”
Microsoft had no new comments to add on Saturday and requests for comments from board members weren’t immediately returned to CNBC.
OpenAI’s product feature announcements earlier this month showed that one of the hottest companies in tech has been rapidly evolving its offerings in an effort to stay ahead of rivals like Anthropic, Google and Meta in the AI arms race.
ChatGPT, which broke records as the fastest-growing consumer app in history months after its launch, now has about 100 million weekly active users, OpenAI said this month. More than 92% of Fortune 500 companies use the platform, up from 80% in August, and they span across industries like financial services, legal applications and education, according to Mira Murati, OpenAI’s CTO-turned-interim CEO.
The news of Altman’s ousting comes after OpenAI’s Dev Day, the company’s first in-person event, on Nov. 6, which also included a surprise appearance by Microsoft CEO Satya Nadella.
“The systems that are needed as you aggressively push forward on your road map require us to be on the top of our game, and we intend fully to commit ourselves fully to making sure you all… have not only the best systems for training and inference, but also the most compute,” Nadella told Altman while onstage together at Dev Day. He added, “That’s the way we’re going to make progress.”
On that day, Altman told Nadella, “I think we have the best partnership in tech and I’m excited for us to build AGI together.”
As recently as last month, OpenAI was reportedly in talks to close a deal that would lead to an $80 billion valuation. When CNBC asked OpenAI COO Brad Lightcap about that deal, he declined to comment.
At OpenAI’s Dev Day, in response to a CNBC question about GPT-5, Altman said, “We want to do it, but we don’t have a timeline.”
Elon Musk, CEO of Tesla, speaks during the 2025 Annual Shareholder Meeting on Nov. 6, 2025.
Courtesy: Tesla
Tesla shareholders voted last week to give CEO Elon Musk a record pay package, one that could net him about $1 trillion in company stock over the next decade. But Musk received less support than he did for an earlier pay plan in 2018.
Setting aside holdings owned by board members and executives, about 66.9% of shares tabulated in the vote were in favor of the package, according to a filing on Friday. When shareholders voted on the 2018 plan, that number was 73%, according to an analysis by Andrew Droste, head of corporate governance at investment firm Columbia Threadneedle.
In announcing the preliminary results on Thursday at the company’s annual shareholders meeting, Tesla said the plan received 75% support among voting shares. The company count included insiders like Musk, who held around a 15% stake in Tesla going into the proxy and was allowed to vote his shares.
The decline from the prior vote follows a tumultuous stretch for Musk and Tesla. Sales slumped in the first half of the year, in part because of Musk’s inflammatory political rhetoric and his work for the Trump administration, slashing the size of the federal government. Tesla’s brand value has also deteriorated.
Still, Droste said in an email that even at just under 70%, the vote represents “broad support for Elon among Tesla’s shareholder base.” Most investors recognize that Tesla and Elon Musk are “inextricably linked,” he wrote, and were “unwilling to risk his potential departure by allowing this vote to fail.”
Board members recommended shareholders approve the pay plan, which they introduced in September. Top proxy advisors Glass Lewis and ISS had recommended that investors vote against it.
The pay package for Musk, already the world’s richest person, consists of 12 tranches of shares to be granted if Tesla hits certain milestones over the next decade. The first tranche of stock gets paid out if Tesla hits a market capitalization of $2 trillion, about $500 billion more than the current valuation. Awards tied to market cap gains are paired with operational achievements.
Musk could still collect more than $50 billion by hitting a handful of the more attainable goals laid out for him by the board in the new pay plan. There are also a list of “covered events” in the award terms that would allow him to earn his shares without meeting required operational milestones.
Tesla didn’t immediately respond to a request for comment.
Correction: A prior version of this story had an incorrect figure for the vote in support of the pay package.
Michael Intrator, co-founder and CEO of CoreWeave, speaks at the Semafor World Economy Summit during the International Monetary Fund and World Bank Spring meetings in Washington on April 25, 2025.
Kent Nishimura | Bloomberg | Getty Images
CoreWeave, a provider of infrastructure for artificial intelligence companies, reported better-than-expected third-quarter revenue on Monday, but the company delivered disappointing full-year guidance. The stock dropped 6% in extended trading.
Here’s how the company did in comparison with LSEG consensus:
Earnings: Loss of 22 cents per share
Revenue: $1.36 billion vs. $1.29 billion expected
Revenue in the quarter soared 134% from $583.9 million a year ago, according to a statement. The company reported a net loss of $110 million, narrowing from about $360 million in the same quarter last year.
CoreWeave’s growth is tied directly to the AI boom, as the company rents out Nvidia graphics processing units and has won business from leading cloud infrastructure providers, including Google and Microsoft. The company’s backlog now stands at $55.6 billion, with 2.9 gigawatts in contracted power, up from 2.2 gigawatts on June 30, according to the statement.
However, CoreWeave now sees 2025 revenue coming in between $5.05 billion and $5.15 billion, trailing the average analyst estimate of $5.29 billion, according to LSEG.
A third-party data center developer is behind schedule, CEO Mike Intrator said on the company’s earnings call. But he added that the delay won’t affect CoreWeave’s backlog.
“There was a problem at one data center that’s impacting us, but there are 32 data centers in our portfolio,” Intrator said.
During the quarter, CoreWeave announced a $6.5 billion expansion of its business with OpenAI and a six-year deal with Meta worth up to $14.2 billion. CoreWeave also received its sixth contract from “a leading hyperscaler.”
The company remains supply-constrained, Intrator said. The shortage is not in power but instead has to do with the availability of partly completed “powered-shell” data centers in which CoreWeave can set up its own equipment, he said.
Meanwhile, CoreWeave is building its own data center infrastructure from the ground up in Pennsylvania, he said.
“The overwhelming majority of the delay that you’re seeing should be taken care of within Q1 of next year.” Intrator said.
CoreWeave went public on the Nasdaq in March, selling shares at $40 each. On Monday the stock closed at $105.61, representing a 164% return. The Nasdaq has gained 32% over a similar period. CoreWeave shares slipped in extended trading on Monday.
Less than four months after its IPO, CoreWeave announced its intent to acquire data center infrastructure operator Core Scientific for $9 billion, but Core Scientific shareholders voted against the proposed deal.
CoreWeave’s 2026 capital expenditures should be “well in excess of double” the total for 2025, which will end up between $12 billion and $14 billion, said Nitin Agrawal, the company’s finance chief.
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 jumped nearly 1.5% on Monday, as House members were called back to Washington to vote on a Senate deal to end the longest government shutdown in history. The Nasdaq surged more than 2%. With these gains, both indexes recovered nearly all of last week’s losses. A possible end to the 41-day shutdown, which has caused massive flight delays and cancellations and shaken consumer confidence in the economy, has put investors in a more risk-taking mood. Club holding Nvidia rose nearly 5% on Monday, after losing 7% last week in a tech rout driven by worries about valuations in stocks tied to the artificial intelligence boom. Monday’s rally isn’t just about tech. Consumer discretionary and materials sectors were also strong. In fact, eight of the 11 S & P 500 sector indexes were higher. Only real estate, utilities, and consumer staples were in the red. Wafer demand: Nvidia CEO Jensen Huang asked key manufacturing partner Taiwan Semiconductor to boost its wafer production, he told reporters over the weekend. This is a clear indication that Huang expects strong demand for Nvidia’s AI chips to continue. It also aligns with the “$500 billion in order visibility” comment the CEO made at the company’s GTC event a few weeks ago. Huang’s comments are obviously positive for Nvidia, but when we hear the word “wafer,” which is the basic building material used to make semiconductor chips, our mind immediately goes to the recent DuPont spinoff of Qnity Electronics. That’s because CEO Jon Kemp has repeatedly said that wafer starts are the best indicator of demand. Wafer starts refer to the number of new semiconductor wafers that initiate the manufacturing process in a fabrication plant. “Wafer starts, which are measured by MSI data, are one of the best indicators of demand for our products. You can see wafer starts have grown steadily with a long-term [compound annual growth rate] in the mid-single digits, demonstrating consistent positive growth,” Kemp said at the October Investor Day event. “Global fab capacity has steadily expanded to keep pace with that demand, increasingly driven by investments at the leading edge, which will approach $200 billion or more in coming years.” This comes as the SEMI Silicon Manufacturers’ Group, which provides market data for the silicon industry, reported last week that worldwide silicon wafer shipments increased by 3.1% year over year in the third quarter of 2025. The increase was driven by the demand for supporting AI applications. Looking ahead, SEMI expects global shipments will increase steadily through 2028. Club name Qnity stock is up about 6% on Monday, rebounding with other AI-related names. It’s unclear, however, how much of the move is tied to Huang’s comments. After all, trading in Qnity has been volatile since the spin was completed last Monday. Up next: We’ll continue to follow the events from Washington to see if a deal is made to reopen the government. On earnings, Paramount Skydance , CoreWeave , Rigetti Computing , AST SpaceMobile , Rocket Lab , and Occidental Petroleum report after the closing bell. Before the opening on Tuesday, Wall Street Nebius Group and Sea Limited will report earnings. – CNBC’s Matthew J. Belvedere contributed to this report. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.