Microsoft experienced a significant surge in stock prices, reaching an all-time high (ATH) record, after recruiting Sam Altman, the founder of OpenAI, who was previously dismissed from the company.

Earlier, Microsoft stocks underwent significant fluctuations after OpenAI, the artificial intelligence technology developer behind ChatGPT, ousted their founder and CEO, Sam Altman, on Friday, November 17, 2023. Microsoft had previously invested over $13 billion in OpenAI.

Following Altman's departure from OpenAI, Microsoft stocks declined on Friday and continued to decrease after hours. Over the weekend, Microsoft endeavored to persuade the OpenAI board of directors to reinstate Altman, who held crucial connections in Silicon Valley.

Ultimately, Microsoft announced on Sunday night that they would hire Altman and Greg Brockman, the president of OpenAI who resigned in solidarity. Both would lead advanced research laboratories at Microsoft.

"(This move) marks a new step in innovation," said Satya Nadella, CEO of Microsoft, as reported by The New York Times on Tuesday, November 21, 2023.

On Monday, Microsoft stocks successfully recovered, rising over 2% to an all-time high. Analysts praised the company for recruiting individuals from OpenAI. This increase surpassed other AI companies like Nvidia and Broadcom, reaching a new peak. The Nasdaq index, focused on technology, rose by 1.13% at the Monday closing.

Microsoft stocks have sharply increased in the last month after reporting profit gains in the last quarter. At the end of Monday's trading day, the company's stock price reached $377.44, surpassing the previous record of around $376.20 on Thursday.

Despite the surprising events over the weekend, some analysts believe that Microsoft is now in a stronger position in the field of artificial intelligence. Analysts at RBC expressed confidence that Microsoft has an advantage in AI.

Most OpenAI staff, including executives, signed a letter to the board, threatening to move to Microsoft if Altman is not reinstated as the company's leader. This list includes OpenAI's chief scientist, Ilya Sutskever, who is also a board member.

Some believe that the dramatization of OpenAI's control could be positive for companies like Microsoft focusing on AI commercialization. Analysts at Oppenheimer stated that this publicity could attract more investments and attention to companies developing AI technology.

OpenAI has appointed a temporary CEO, Emmett Shear, former CEO of Twitch, to replace Altman. Mira Murati, an experienced executive at OpenAI, was initially appointed as interim chairperson after Altman's departure.