Sam Altman Out at OpenAI, Plus Charting the Market’s Monster Moves 11/17/23

CNBC's "Fast Money"

CNBC

Business, News, Investing

3.9 • 1.3K Ratings

🗓️ 17 November 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

OpenAI’s board ousting founder Sam Altman, saying they found he hadn’t been “consistently candid” in his communications with them. Shares of Microsoft, OpenAI’s biggest investor dropped on the news. Why one expert says it’s like Microsoft “losing its quarterback”. Plus this was a week of outsized moves in everything from banks to oil to the dollar. What the charts tell us about where things are heading from here. Fast Money Disclaimer

Transcript

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0:00.0	Live in the NASDAQ market site in the heart of New York City's Times Square.
0:05.4	This is Fast Money. Here's what's on tap tonight. A Friday bombshell Sam
0:09.0	Altman fired as a CEO of Open AI, the board losing confidence in his ability to continue leading the company,
0:14.6	we'll have the latest, plus a ripple effect for Microsoft and the big AI players.
0:19.0	Also, it's the night of a thousand charts from the dollar to regional banks to retail and more
0:23.7	what this week's outsized move say about the state of the market and where these
0:27.5	charts might be heading next and later wearing the crown Netflix quietly having
0:31.9	quite a memorable month.
0:33.9	The stock is up 30% in the last 30 days.
0:37.0	What's behind this royal revival?
0:38.7	We'll debate that.
0:39.6	I'm Melissa Lee coming to you live from Studio B at the Nazac on the desk tonight,
0:43.0	Gaiadami, Tim Seymour, Bono, and Dan Nathan.
0:46.1	We're going to get into this week's monster market moves in just a few minutes,
0:49.1	but we've got to start off at the developing story on Open AI. The company is bored
0:53.6	ousting CEO Sam Altman late in the day saying he was not quote unquote
0:57.8	consistently candid in his communications with them. shares a
1:01.0	Microsoft open AI's biggest, dropping on the news.
1:05.1	Let's get to Steve Kovac for the latest and what we know at this hour.
1:07.7	Steve.
1:08.7	Hey there, Mel, yeah, this is the big surprise in Silicon the its responsibilities. Adding they no longer had confidence in his ability to run the company.
1:35.6	Now Mira Marotti, the Open AI Chief Technology Officer,
	...

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