The San Francisco-based company made the announcement after days of internal turmoil following Altman's surprise sacking on Friday. Nearly all of OpenAI's 750-strong workforce had threatened to resign unless the board overseeing the business brought him back.
The deal includes the establishment of a new-look board chaired by Bret Taylor, the former co-chief executive of the software firm Salesforce. It will include the former US treasury secretary Larry Summers and Adam D'Angelo, the tech entrepreneur and current board member who played a role in Altman's firing.
OpenAI wrote on the X platform, formerly Twitter: "We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (chair), Larry Summers, and Adam D'Angelo. We are collaborating to figure out the details. Thank you so much for your patience through this."
Altman, who has not regained his position on the board, posted on X soon after: "I love OpenAI, and everything I've done over the past few days has been in service of keeping this team and its mission together." He added: "I'm looking forward to returning to OpenAI."
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