Microsoft-backed (MSFT) AI firm OpenAI (PC:OPAIQ) is adding more top talent from major tech companies as it works to expand its business and make ChatGPT more connected to other apps. Notably, Glen Coates, a former executive at e-commerce platform Shopify (SHOP), shared on LinkedIn that he has joined OpenAI as the new head of app platform. At Shopify, Coates spent six years leading product development for its core e-commerce software and later focused on helping merchants link their product data to AI tools.
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His new role at OpenAI supports the company’s goal of turning ChatGPT into a central place where users can interact with other apps, which include early partnerships with Instacart (CART) and Target (TGT). In addition to Coates, OpenAI has confirmed that Albert Lee, a longtime Google (GOOGL) executive, is joining the company as vice president of corporate development. He will start his new position on Tuesday and report to OpenAI’s finance chief, Sarah Friar.
The company told Reuters that Lee’s role is to provide OpenAI with a senior leader with broad oversight who can act quickly on important decisions. At Google, Lee led corporate development for Google Cloud and DeepMind and worked on over 60 deals worth more than $50 billion. He also serves on the advisory board of CapitalG, Alphabet’s independent growth fund, which has invested in companies like CrowdStrike (CRWD) and Airbnb (ABNB).
Is MSFT Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 32 Buys and two Holds assigned in the last three months. Furthermore, the average MSFT price target of $632.22 per share implies 33.4% upside potential.
