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Sam Altman (L), US entrepreneur, investor, programmer, and founder and CEO of artificial intelligence company OpenAI, and the company’s co-founder and chief scientist Ilya Sutskever, speak together at Tel Aviv University in Tel Aviv on June 5, 2023.

Jack Guez | Afp | Getty Images

After a weekend of crisis and tumult, Sam Altman has returned as the CEO of OpenAI. Three new board members have replaced the previous leadership that ousted Altman.

OpenAI’s new board doesn’t appear to be fully built. Negotiations are reportedly underway to install representation from Microsoft, which has invested billions of dollars in OpenAI, or other major investors.

There’s a notable change in the board’s experience. The previous board included academics and researchers, but OpenAI’s new directors have extensive backgrounds in business and technology.

Microsoft CEO Satya Nadella said in an interview with CNBC earlier this week that governance at OpenAI needed to change. Nadella said Wednesday he is “encouraged” by the changes to the company’s board, according to a post on X, formerly known as Twitter.

“We believe this is a first essential step on a path to more stable, well-informed, and effective governance,” he said.

Microsoft, Sequoia Capital, Thrive Capital, and Tiger Global are among the OpenAI investors that lack representation on the board but had been pushing to reinstate Altman, as CNBC previously reported.

Here’s who’s in, who’s out, and what the changes may mean.

Here are the newest members of OpenAI’s board

Bret Taylor, co-CEO of Salesforce, speaks at the Viva Technology Conference in Paris on June 15, 2022.

Nathan Laine | Bloomberg | Getty Images

Bret Taylor, board chair

Bret Taylor is currently a board member at the e-commerce platform Shopify. He’s also the former co-CEO of Salesforce and was Twitter’s final board chair prior to Elon Musk’s acquisition of the social media platform.

Taylor co-founded Quip, a collaboration platform that was acquired by Salesforce in 2016. That acquisition propelled him into the seniormost ranks of the enterprise software company, where he would eventually take the co-CEO title in 2021. Taylor left Salesforce in January.

The executive launched his own artificial intelligence venture alongside a former Google executive in February. It isn’t clear if Taylor’s involvement with his own AI startup will cease with his appointment to lead OpenAI’s board. 

Taylor did not immediately respond to CNBC’s request for comment.

Larry Summers at the World Economic Forum in Davos, Switzerland.

David A. Grogan | CNBC

Larry Summers

Larry Summers served as Treasury secretary during the Clinton administration and was the president of Harvard University. An economist by training, Summers also led the Obama administration’s National Economic Council during the Global Financial Crisis. 

His connections in Washington could be valuable for OpenAI as the company faces continued regulatory scrutiny from lawmakers. 

Late last year, Summers called OpenAI’s popular generative chatbot ChatGPT a “profound thing for humanity” during an interview with Bloomberg. He compared the advent of the technology to the introduction of the printing press and electricity. 

“This could be the most important general-purpose technology since the wheel or fire,” Summers said. 

Summers also serves on the board of Block, a financial technology company led by Twitter co-founder Jack Dorsey, and on the board of Skillsoft, an educational technology company. 

Summers stepped down in 2006 from Harvard’s presidency following backlash on campus about comments he made on gender representation in STEM fields at a diversity conference. Summers later apologized for the remarks, saying in a 2005 letter that he was “wrong to have spoken in a way that has resulted in an unintended signal of discouragement to talented girls and women.”

A representative for Summers declined to comment.

Adam D’Angelo

Adam D’Angelo is the only member of OpenAI’s previous board who still holds a seat. He joined in 2018 and reportedly played a major role in the negotiations that brought Altman back to the helm. 

D’Angelo is the CEO of Quora, a platform where users can publicly ask and answer questions. He is also developing an AI chat platform called Poe, which he announced in February. He spent several years at Meta, formerly known as Facebook, and served as CTO from 2006 to 2008.

He has not commented publicly since Altman’s ouster Friday, but he retweeted a post on X that suggested his motives were not “crazy” or “vindictive.” OpenAI’s board fired Altman Friday after determining he was “not consistently candid in his communications,” but its members never elaborated further. 

D’Angelo did not immediately respond to CNBC’s request for comment.

Here is who is no longer on OpenAI’s board 

Helen Toner, Director of Strategy and Foundational Research Grants at Georgetown’s CSET speaks onstage during Vox Media’s 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California.

Jerod Harris | Getty Images

Helen Toner

Helen Toner is a researcher and director of strategy and foundational research grants at Georgetown University’s Center for Security and Emerging Technology. Toner was a former employee at Open Philanthropy, serving as an advisor on AI policy. 

Toner offered what could be seen as public criticism of OpenAI in an October paper, a decision with which Altman reportedly took issue. The paper suggested that OpenAI’s launch of ChatGPT undermined the company’s efforts to develop AI safely, by spurring other tech companies into launching their own competing chatbots and forcing them to “accelerate or circumvent internal safety and ethics review processes.”

She was one of the directors involved in pushing Altman out. She has not responded to CNBC’s previous attempts to contact her.

Director of Business Development for Geosim Tasha McCauley attends the 2014 Kairos Global Summit at Ritz-Carlton Laguna Nigel on October 17, 2014 in Dana Point, California.

Jerod Harris | Getty Images

Tasha McCauley

Tasha McCauley joined OpenAI’s board in 2018. She is an adjunct senior management scientist at Rand Corporation, and formerly served as the CEO of GeoSim Systems, which developed an automated city modeling system. 

She is married to actor and filmmaker Joseph Gordon-Levitt, who announced the union in 2015

McCauley has not commented publicly since Altman’s firing Friday. She did not respond to CNBC’s requests for comment. 

Ilya Sutskever, Russian Israeli-Canadian computer scientist and co-founder and Chief Scientist of OpenAI, speaks at Tel Aviv University in Tel Aviv on June 5, 2023.

Jack Guez | AFP | Getty Images

Ilya Sutskever

Ilya Sutskever co-founded OpenAI and serves as its chief scientist. He also aligned himself, for a time, with the board members who ousted Altman.

Sutskever is the author or co-author of more than 130 research papers on artificial intelligence, neural networks, and generative AI, according to his Google Scholar profile. He holds a PhD in computer science from the University of Toronto and had a brief post-doctoral stint at Stanford, according to his LinkedIn profile.

Sutskever co-led OpenAI alongside president Greg Brockman, an idea that Altman at the time described as “non-traditional.” Sutskever is close with Brockman and officiated his wedding at OpenAI headquarters in 2019. 

A personal plea from Brockman’s wife reportedly helped bring Sutskever back into Altman’s camp. Sutskever was one of the first signatories on a letter signed by the vast majority of OpenAI employees that demanded the board’s resignation over the weekend. He repudiated his support for the board in a post on X.

Despite his about-face, Sutskever was removed from the board. His status as an OpenAI executive does not appear to have changed.

What’s next?

Sam Altman, chief executive officer (CEO) of OpenAI and inventor of the AI software ChatGPT, joins the Technical University of Munich (TUM) for a panel discussion. 

Sven Hoppe | Picture Alliance | Getty Images

Semafor reported that Altman had been pushing for months to add more directors at OpenAI, and reports suggest it’s unlikely that OpenAI’s board will remain this small.

Bloomberg said on Thursday that, among the changes Microsoft wanted, was a larger and more experienced board. It’s currently smaller, and we don’t know what, if any, kind of other protections or role on the board Microsoft might get.

The composition of the new board — experienced technology and business executives — suggests that OpenAI may be transforming into a more conventional Silicon Valley startup on paper, not just in spirit.

The new governance, however, does not change the fact that OpenAI remains a “capped-profit” entity owned by a non-profit, with excess profits continuing to flow up to that non-profit. 

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Okta shares fall as company declines to give guidance for next fiscal year

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Okta shares fall as company declines to give guidance for next fiscal year

Cheng Xin | Getty Images

Okta on Tuesday topped Wall Street’s third-quarter estimates and issued an upbeat outlook, but shares fell as the company did not provide guidance for fiscal 2027.

Shares of the identity management provider fell more than 3% in after-hours trading on Tuesday.

Here’s how the company did versus LSEG estimates:

  • Earnings per share: 82 cents adjusted vs. 76 cents expected
  • Revenue: $742 million vs. $730 million expected

Compared to previous third-quarter reports, Okta refrained from offering preliminary guidance for the upcoming fiscal year. Finance chief Brett Tighe cited seasonality in the fourth quarter, and said providing guidance would require “some conservatism.”

Okta released a capability that allows businesses to build AI agents and automate tasks during the third quarter.

CEO Todd McKinnon told CNBC that upside from AI agents haven’t been fully baked into results and could exceed Okta’s core total addressable market over the next five years.

“It’s not in the results yet, but we’re investing, and we’re capitalizing on the opportunity like it will be a big part of the future,” he said in a Tuesday interview.

Revenues increased almost 12% from $665 million in the year-ago period. Net income increased 169% to $43 million, or 24 cents per share, from $16 million, or breakeven, a year ago. Subscription revenues grew 11% to $724 million, ahead of a $715 million estimate.

For the current quarter, the cybersecurity company expects revenues between $748 million and $750 million and adjusted earnings of 84 cents to 85 cents per share. Analysts forecast $738 million in revenues and EPS of 84 cents for the fourth quarter.

Returning performance obligations, or the company’s subscription backlog, rose 17% from a year ago to $4.29 billion and surpassed a $4.17 billion estimate from StreetAccount.

This year has been a blockbuster period for cybersecurity companies, with major acquisition deals from the likes of Palo Alto Networks and Google and a raft of new initial public offerings from the sector.

Okta shares have gained about 4% this year.

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Marvell to acquire Celestial AI for as much as $5.5 billion

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Marvell to acquire Celestial AI for as much as .5 billion

Marvell Technology Group Ltd. headquarters in Santa Clara, California, on Sept. 6, 2024.

David Paul Morris | Bloomberg | Getty Images

Semiconductor company Marvell on Tuesday announced that it will acquire Celestial AI for at least $3.25 billion in cash and stock.

The purchase price could increase to $5.5 billion if Celestial hits revenue milestones, Marvell said.

Marvell shares rose 13% in extended trading Tuesday as the company reported third-quarter earnings that beat expectations and said on the earnings call that it expected data center revenue to rise 25% next year.

The deal is an aggressive move for Marvell to acquire complimentary technology to its semiconductor networking business. The addition of Celestial could enable Marvell to sell more chips and parts to companies that are currently committing to spend hundreds of billions of dollars on infrastructure for AI.

Marvell stock is down 18% so far in 2025 even as semiconductor rivals like Broadcom have seen big valuation increases driven by excitement around artificial intelligence.

Celestial is a startup focused on developing optical interconnect hardware, which it calls a “photonic fabric,” to connect high-performance computers. Celestial was reportedly valued at $2.5 billion in March in a funding round, and Intel CEO Lip-Bu Tan joined the startup’s board in January.

Optical connections are becoming increasingly important because the most advanced AI systems need those parts tie together dozens or hundreds of chips so they can work as one to train and run the biggest large-language models.

Currently, many AI chip connections are done using copper wires, but newer systems are increasingly using optical connections because they can transfer more data faster and enable physically longer cables. Optical connections also cost more.

“This builds on our technology leadership, broadens our addressable market in scale-up connectivity, and accelerates our roadmap to deliver the industry’s most complete connectivity platform for AI and cloud customers,” Marvell CEO Matt Murphy said in a statement.

Marvell said that the first application of Celestial technology would be to connect a system based on “large XPUs,” which are custom AI chips usually made by the companies investing billions in AI infrastructure.

On Tuesday, the company said that it could even integrate Celestial’s optical technology into custom chips, and based on customer traction, the startup’s technology would soon be integrated into custom AI chips and related parts called switches.

Amazon Web Services Vice President Dave Brown said in a statement that Marvell’s acquisition of Celestial will “help further accelerate optical scale-up innovation for next-generation AI deployments.”

The maximum payout for the deal will be triggered if Celestial can record $2 billion in cumulative revenue by the end of fiscal 2029. The deal is expected to close early next year.

In its third-quarter earnings on Tuesday, Marvell earnings of 76 cents per share on $2.08 billion in sales, versus LSEG expectations of 73 cents on $2.07 billion in sales. Marvell said that it expects fourth-quarter revenue to be $2.2 billion, slightly higher than LSEG’s forecast of $2.18 billion.

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Amazon announces new AI chips, closer Nvidia ties — but it’s cloud capacity that matters most

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Amazon announces new AI chips, closer Nvidia ties — but it's cloud capacity that matters most

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