From the FT: How Silicon Valley got Sam Altman back as CEO of world’s hottest startup

In a dramatic turnaround, OpenAI co-founder Sam Altman's reinstatement sparked celebration at the company's San Francisco offices after his abrupt sacking just days prior. Influential tech figures, including Salesforce founder Marc Benioff, publicly supported Altman amidst a crisis that saw an employee revolt and board reshuffling. Altman's return hinged on board overhaul demands, fuelled by staff and investor backing. A mass exodus threat and potential legal action pushed the board to negotiate, resulting in an independent investigation and Altman's return, sans a board seat. Salesforce's Bret Taylor now chairs the revamped board, signalling a resolution to a tumultuous episode.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

By George Hammond and Camilla Hodgson in San Francisco and Madhumita Murgia in Usaipur for the Financial Times

When OpenAI announced Sam Altman's return to the helm on Tuesday evening, an impromptu party broke out at the company's San Francisco offices.

As staff celebrated the reinstatement of the co-founder who was dramatically sacked just four days earlier, investors in the company and other tech leaders rushed to offer their support to Altman, with a flood of heart emojis washing across social media site X.

___STEADY_PAYWALL___