Last week, OpenAI – creator of ChatGPT and the world’s most important AI company – fired and then rehired its CEO.
It played out like an episode of Succession. And while everyone was enraptured by the boardroom drama playing out between CEO Sam Altman and his colleagues, I was much more focused on the broader implications.
To us, it’s clear that we have now officially entered Act II of the AI Boom: The Profit Push.
Until last week’s OpenAI boardroom drama, this boom was still in its “experimental” stages.
Outside of a few helpful chatbots, artificial intelligence has mostly been a research concept. Scientists and engineers have touted the advancements they’re making in model development. And executives have demonstrated some new AI’s cool capabilities in presentations. But for the most part, the AI Boom in 2023 was centered on research and the promise for what that research could one day produce.
Act I of the AI Boom ended with Sam Altman’s firing last week.
Ushering in a New Era for AI
It turns out that we weren’t stuck in the “experimental” stage of AI in 2023 because the tech wasn’t yet good enough. We were stuck because we were on the “slow and steady” path to success.
That’s what the firing of Sam Altman revealed. His ousting was the result of a struggle between the so-called “AI doomers” at OpenAI who believed artificial intelligence was progressing too quickly and wanted to move more slowly with commercial development and the “AI optimists” who wanted to move quickly because they believe that AI will usher in a new era of prosperity for all.
Altman is an AI optimist. He was moving too fast for the doomers. So, the doomers kicked him out.
But Altman punched back and won. In the end, the optimist was reinstated as CEO, and the board’s doomers were pushed out. They were replaced by a handful of experienced economic and tech leaders – or, as I like to call them, capitalists.
In other words, just two weeks ago, OpenAI was stifled by a board of directors with incongruous perspectives on artificial intelligence development.
And now the world’s most important AI company is led by a group of capitalists that presumably want to commercialize this tech as fast as ethically possible.
The Final Word
AI is on track to rapidly progress from mere research concept to a series of powerful tools, products, and services.
As such, now is the time that investors start making money off of artificial intelligence.
In fact, do you know what Sam Altman’s biggest side projects were prior to being fired as CEO of OpenAI? He was in the midst of raising billions, for both a new AI chip venture and for making the “iPhone for AI” – the latter of which could really turn AI into a tangible product.
With this new board, you can bet that OpenAI will move forward on these new initiatives.
The ‘Profit Push’ has begun.
Because of what happened at OpenAI over the past week, we anticipate that 2024 will be the best year ever for investing in artificial intelligence.
But the biggest returns next year won’t be had in AI stocks.
Rather, the AI Boom’s biggest gains will come from a rare and unique investment vehicle outside of the stock market – the same investment vehicle that folks like Elon Musk and Mark Cuban used to become billionaires in the dot-com boom.
And in a brand-new presentation this Tuesday night, Nov. 28, I’ll be demystifying this powerful investment vehicle.
I know this is a very busy time of year. But trust me. You owe it to yourself to be informed about this rare investment vehicle with a track record of minting millionaires.