ChatGPT maker OpenAI says it has agreed a deal for Sam Altman to return as chief executive after he was ousted by its board.

The agreement “in principle” involves a new board being installed, the company said.

In a post on X, OpenAI said: “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.”

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive Breaking News alerts on a smartphone or tablet via the Sky News App. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.