Microsoft ditches OpenAI board observer seat amid regulatory scrutiny
CNN
Microsoft (MSFT.O), opens new tab has ditched the board observer seat at OpenAI that has drawn regulatory scrutiny on both sides of the Atlantic, saying it was not necessary after the AI start-up’s governance had improved significantly in the past eight months.
Microsoft has ditched the board observer seat at OpenAI that has drawn regulatory scrutiny on both sides of the Atlantic, saying it was not necessary after the AI start-up’s governance had improved significantly in the past eight months. Microsoft took a non-voting, observer position on OpenAI’s board in November last year after OpenAI CEO Sam Altman took back the reins of the company, which operates the generative AI chatbot ChatGPT. The seat meant it could attend OpenAI’s board meetings and access confidential information but had no voting rights on matters including electing or choosing directors. The observer seat and Microsoft’s more than $10 billion investment in OpenAI have triggered unease among antitrust watchdogs in Europe, Britain and the US over how much control it exerts over OpenAI. Microsoft cited OpenAI’s new partnerships, innovation and growing customer base since Altman’s return to the startup for giving up its observer seat. “Over the past eight months we have witnessed significant progress by the newly formed board and are confident in the company’s direction. Given all of this we no longer believe our limited role as an observer is necessary,” it said in a letter to OpenAI dated July 9.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.