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Artificial intelligence-related stocks got a boost on Monday as Microsoft (NASDAQ:MSFT) appeared to settle investor’s nerves about the future of general AI after last week’s surreal occurrences surrounding ChatGPT creator OpenAI and its CEO, Sam Altman.
C3.ai (NYSE:AI) shares rose nearly 8% in mid-day trading, BigBear.ai Holdings (NYSE:BBAI) gained 6.7%, SoundHound AI (NASDAQ:SOUN) gained 2.7% while Palantir Technologies (PLTR) added 4.7%.
Microsoft (MSFT) shares hit an all-time high on Monday as the company and its CEO Satya Nadella, have received considerable praise for handling the bizarre situation with OpenAI and Altman.
In an early Monday morning post on X, formerly known as Twitter, Nadella said Microsoft (MSFT) is “extremely excited” to have Altman and Brockman join the company, leading advanced AI research.
“We look forward to moving quickly to provide them with the resources needed for their success,” Nadella wrote.
Nadella also said Microsoft (MSFT) is committed to its partnership with OpenAI, everything that was announced at its Ignite conference and looks forward to “getting to know [new CEO] Emmett Shear and OAI’s new leadership team and working with them.”
Microsoft (MSFT) made a “multibillion” dollar investment into OpenAI in January, one which has reportedly given them a 49% stake in the ChatGPT creator.