OpenAI cofounder and recently ousted CEO Sam Altman is likely to return to his role after days of corporate instability that has fascinated the tech sector.

OpenAI claimed in a statement posted on X late Tuesday that it has achieved a "in principle" deal for Altman to return to the company as CEO. According to the announcement, a new "initial" board of directors would be created, with former Salesforce co-CEO Bret Taylor as chair, former US Secretary of the Treasury Larry Summers, and Adam D'Angelo remaining as the only current director.

Altman said on X, "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."

Greg Brockman, an OpenAI cofounder who was ousted as head of the board after Altman was sacked and then resigned in protest, is also scheduled to return. "Returning to OpenAI & getting back to coding tonight," he said on X.

OpenAI's planned all-male board seems to remove three directors who voted to oust Altman: cofounder and head scientist Ilya Sutskever of OpenAI, Helen Toner of Georgetown's Centre for Security and Emerging Technology, and entrepreneur Tasha McCauley. "And now, we all get some sleep," Toner wrote on X. Requests for comment from McCauley and Sutskever were not immediately returned.

According to The Verge, the proposed deal calls for the founding board to choose a new board of up to nine members to reform OpenAI's corporate governance. Altman's dismissal was made possible by a unique structure that places the firm under the jurisdiction of a board whose primary legal purpose is to ensure that strong AI is good to humans.

Kelly Sims, a partner at Thrive Capital, a significant OpenAI investor who has been supportive of Altman's recent discussions with the company's board, published a statement welcome his return. "Sam and Greg possess a profound commitment to the company's integrity, and an unmatched ability to inspire and lead," the statement went on to say. "We believe this is the best outcome for the company, its employees, those who build on their technologies, and the world at large," added Sims.

The talks on Altman's return were disclosed in a message issued to workers on Monday by OpenAI's vice president of global affairs, Anna Makanju, who stated that the talks involved Altman, the board, and the new interim CEO, Emmett Shear.

Shear said on X after OpenAI announced the deal for Altman's return that he was "deeply pleased by this result, after 72 very intense hours of work." It was uncertain if he would remain with the organisation. He modified his X profile to read "interim ex-CEO of OpenAI."

Following Altman's dismissal last Friday, the board first named CTO Mira Murati as interim CEO.

Altman's sacking prompted an eventful few days in which he considered returning to the firm before choosing to join Microsoft instead, and then resuming talks with OpenAI.

On Monday, hundreds of employees signed a letter threatening to leave the firm in protest at the board's handling of Altman's dismissal. By the afternoon, more than 95 percent of the firm had signed the letter.

Even ChatGPT could have had difficulty concocting such a complicated tale of corporate intrigue. Questions remain about what triggered Altman's departure in the first place.

The board stated on Friday that the CEO's dismissal "follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board," fueling wild conjecture about the likely causes. The board has failed to provide evidence to support the assertion, either publicly or to OpenAI workers. Brad Lightcap, the company's chief operating officer, assured staff that there had been no wrongdoing.

Although Sutskever was engaged in the decision to dismiss Altman and even gave the news to him on Friday, he has subsequently recanted, writing on X on Monday, "I deeply regret my participation in the board's actions." I never wanted to hurt OpenAI. I adore what we've created together and will do everything in my power to bring the firm back together." Late Tuesday on X, he reposted postings from OpenAI and Altman announcing the reunion.