Is The Altman Premium Worth US$56bn?
Microsoft shares rose 2.05% on 20 November 2023, the day its CEO Satya Nadella announced the hiring of OpenAI CEO Sam Altman, OpenAI president Greg Brockman and a team of other employees from OpenAI. This translates into a $56 billion increase in market capitalisation.
Other mega tech companies such as Apple (+0.9%), Alphabet (+0.7%) and Meta (+1.5%) also rose, as did the NASDAQ Composite (+1.1%).
It appears, however, that the Altman/OpenAI/Microsoft saga is still developing…