BlockFi has signed a term sheet with crypto exchange FTX to access a $250 million revolving credit line to bolster its balance sheet, the crypto lending firm announced on Tuesday. BlockFi has been under financial pressures in recent weeks, laying off 20% of its employees earlier this month. It’s also in the process of raising a down round that would slash its valuation by one-fifth, The Block...
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Microsoft CEO Says AI ‘Vicious Cycle’ Will Boost Google; Meta and OpenAI’s Other Rivalry
CEOs often speak from both sides of their mouth, depending on who their audience is. On Monday, Microsoft CEO Satya Nadella painted a scary picture of how Google could multiply its power in the age of artificial intelligence. His doom and gloom comments, made before a federal judge in Washington, contrasted with an upbeat Nadella from February who said that Microsoft’s Bing search—then being...
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