Microsoft Corporation (MSFT) stock rose 2% in pre-market trading today after the company announced that former OpenAI head Sam Altman will join the software giant to lead a new advanced AI research team. The move is seen as a major coup for Microsoft, as Altman is widely respected in the field of artificial intelligence.
Altman will report to Microsoft CEO Satya Nadella, who said in a statement that Altman “is one of the most visionary leaders in the field of artificial intelligence.” Nadella added that Altman’s “expertise in developing and deploying AI at scale will be invaluable to Microsoft as we continue to invest in this critical area.”
Microsoft has been investing heavily in AI in recent years, and the company has made significant progress in developing new AI technologies. The addition of Altman is expected to further accelerate Microsoft’s AI efforts.
The news of Altman’s appointment was welcomed by investors, as Microsoft stock rose 2% in pre-market trading. The stock is currently trading at $371.22, up from its 52-week low of $219.35.
Microsoft stock is expected to continue to rise in the coming days as investors react to the news of Altman’s appointment. The company is well-positioned for future growth, thanks to its strong position in the cloud computing market and its continued investment in AI.