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CNN Business names Satya Nadella as CEO of the Year
Nadella was recognised for being among the first to identify AI’s potential and harness it
Satya Nadella / Image – X/@SatyaNadella
Satya Nadella, CEO of software giant Microsoft, was named CEO of the Year 2023 by CNN Business for leaning into ever-evolving technology trends, including artificial intelligence.
Microsoft embraced AI like no other, the media organization noted while announcing Nadella as the winner of the title. The Indian American beat other contenders including Chase CEO Jamie Simon, OpenAI CEO Sam Altman, and Nvidia CEO Jensen Huang to become CNN Business’ CEO of the Year.
The Hyderabad-born techie joined Microsoft in 1992 when it was just making its way to the top. He stayed with the company through many storms, and in 2014, assumed the CEO position at Microsoft. After a couple of big acquisitions including LinkedIn, and some not-so-successful ventures like the Bing search engine, Microsoft, under the steady leadership of Nadella grew to be a US $2 trillion company.
Microsoft made a huge splash earlier in 2023 after making an investment of US $10 billion in OpenAI, the intelligence research lab responsible for introducing ChatGPT to the world. This was the company’s third investment in OpenAI, the first one being in 2019, and then in 2021.
In exchange of the monetary support, Microsoft intended to gain access to some of the most popular and advanced artificial intelligence systems as it competes with Google and other subsidiaries from the Alphabet Inc. stable. The news created huge buzz in the industry as well as among the general public as it came less than a week after Nadella laid off 10,000 employees.
As part of the partnership, Open AI got access to Microsoft’s cloud-computing powers so that ChatGPT could produce human-like conversational text in response to prompts. While ChatGPT has been targeted by naysayers, the tool has also been viewed as a threat to Google’s core search business.
Nadella’s business decisions appeared to fare well for the company, as was evident when its stock reached a record high in November 2023. Shares of Microsoft rose 2.1 per ent to an all-time high close of US $377.44, on November 20, beating the previous record of US $376.17, earlier that month.
Overall, Microsoft’s stock is up 55 per cent in 2023. While other companies, including Google, have since jumped on the artificial intelligence bandwagon, Nadella was the first to identify its potential and harness it for the growth of Microsoft.
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