Microsoft "Now Even In Stronger Position" After Hiring Sam Altman

Microsoft's shares rose about 1.5%, with the company on track to add nearly $30 billion to its market value at current levels.

Microsoft emerged on Monday as the big winner of the upheaval at OpenAI, hiring ousted CEO Sam Altman and other key staff of the startup to avert a potential flight to rivals and help deepen its lead in the artificial intelligence race.

The turmoil at OpenAI since Friday had raised fears about the fallout for Microsoft, which has pumped in billions of dollars and uses the pioneer's technology for most of its AI offerings.

The move ensured "the golden child of AI" will stay with Microsoft, analysts said, as the company competes with Alphabet-owned Google to dominate the nascent industry.