Emmett Shear, co-founder and former CEO of streaming service Twitch, has been appointed as the new CEO of artificial intelligence (AI) company OpenAI.

OpenAI ousted Sam Altman as its chief last week after the board said it no longer had confidence in his ability to lead the company over concerns that "he was not consistently candid in his communications."

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Shear said that he felt he had "a duty to help" OpenAI in a post on his X, formerly Twitter, page on Monday.

Despite the drama at OpenAI, crypto tokens with an AI focus rallied over the weekend, amid X boss Elon Musk saying shareholders of its parent company X Corp would have a 25% stake in the new AI venture xAI. There have also been reports of Altman possibly returning to OpenAI's board, offering a further bullish signal to traders.

Edited by Oliver Knight.

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