July 13, 2024

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Emmett Shear, former CEO of Twitch, in a Bloomberg Television interview in San Francisco, California, U.S., on Wednesday, Sept. 14, 2016.

David Paul Morris | Bloomberg | Getty Images

OpenAI is bringing in former Twitch CEO Emmett Shear to run the artificial intelligence company, two days after the sudden ouster of Sam Altman, CNBC has confirmed.

The hiring of Shear is the latest turn in a chaotic weekend at one of the most high-profile startups on the planet. OpenAI’s board announced late Friday that it was removing Altman and replacing him on an interim basis with technology chief Mira Murati. The post said that Altman “was not consistently candid in his communications with the board.”

The Information and Bloomberg both reported on the hiring of Shear earlier. The news was confirmed to CNBC by a person familiar with the matter who asked not to be named because the discussions were confidential. An OpenAI spokesperson didn’t immediately respond to a request for comment.

Shortly after the board’s announcement on Friday, a group of prominent investors, including Microsoft, Tiger Global, Thrive Capital and Sequoia Capital began working to reverse the move. None of those firms have board seats, and they were caught unaware by the board’s decision.

In a post on X, formerly Twitter, late Saturday night, Altman wrote, “i love the openai team so much.” Murati was one of many OpenAI employees who responded with a heart sign.

OpenAI, which was reportedly in talks as recently as last month to sell employee shares to investors at an $86 billion valuation, emerged as a household name this year after releasing its ChatGPT chatbot in late 2022. ChatGPT allows users to type in simple text queries and retrieve smart-sounding answers that can lead to more in-depth conversations.

Altman had been leading the company since 2019 and was serving as both the top executive of a high-flying company and the public face of artificial intelligence research and product development.

Unlike most Silicon Valley startups, OpenAI wasn’t structured like a typical corporation with large chunks of equity controlled by the founders. Rather, it was part of a nonprofit that was started in 2015. The board oversees the nonprofit, which “acts as the overall governing body for all OpenAI activities,” according to Friday’s blog post.

Shear stepped down as CEO of Twitch, the livestreaming service now owned by Amazon, in March. Shear co-founded Justin.tv, a predecessor to Twitch, in 2007. He has also been a part-time partner at startup accelerator Y Combinator, which Altman ran before joining OpenAI.

— CNBC’s Ari Levy contributed to this report

WATCH: Madrona’s Matt McIlwain talks Sam Altman’s departure as OpenAI CEO

Madrona's Matt McIlwain talks Sam Altman's departure as OpenAI CEO



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