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Artificial Intelligence

Elon Musk says debt markets have shut out neoclouds and few will survive

Shares in CoreWeave, Nebius and Iren fell in early trading on Monday after Elon Musk wrote that most neoclouds will not survive. All three rebounded later in the day, as Arjun Kharpal reported for CNBC. Neoclouds rent out AI computing power, mostly Nvidia chips, to other companies.

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Startups

Skydance offers staff buyouts after Warner Bros merger

Skydance, the company formed by Paramount’s $110bn takeover of Warner Bros. Discovery, is offering some employees voluntary buyouts as it looks to cut costs. Co-chief executives David Ellison and Ynon Kreiz announced the programme in a memo to staff on Monday, The Hollywood Reporter reported.

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