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...The launch of OpenAI’s ChatGPT chatbot in November 2022 sparked an investor frenzy as start-ups raced to develop and deploy generative AI and attract venture capital funding....
...Over the summer, Genesis lost $1.1bn on a loan to collapsed hedge fund Three Arrows Capital. DCG took on Genesis’s liabilities in the process, subsequently owing $1.1bn to Genesis....
...On Monday, after months of negotiations, DCG reached an agreement with Genesis’ main creditors, including Gemini....
...The latter is one of the world’s biggest and oldest crypto investors, backed by groups including SoftBank and Google’s venture firm Capital G....
...Pichai said Google was also “experimenting” with applying its Gemini generative AI to its Search business....
...One came after Genesis lost $1.1bn on a loan to collapsed hedge fund Three Arrows Capital, which pledged GBTC as collateral on the loan....
...Microsoft chief financial officer Amy Hood said the company expected capital spending, driven by investments in cloud and AI infrastructure, to “increase materially”....
...All teams working on its AI models, including its flagship Gemini chatbot, will be unified under its DeepMind division run by Demis Hassabis, according to an internal memo sent to staff yesterday....
...Su Zhu and Kyle Davies Three Arrows Capital Su Zhu and Kyle Davies co-founded Three Arrows Capital, a crypto hedge fund that was one of the biggest market investors in early 2022....
...“The ETFs are a game-changer,” CK Zheng, co-founder and chief investment officer at crypto hedge fund ZK Squared Capital, told me....
...Genesis Global Capital LLC agreed to pay a $21mn civil penalty to settle charges that it engaged in the unregistered offer and sale of securities through its Gemini Earn program, the SEC announced on Tuesday...
...foundation models, such as OpenAI’s GPT-4 and Google’s Gemini....
...More AI news: Google is releasing Gemini, its latest generative artificial intelligence system, alongside new offerings for businesses and consumers. 3....
...Venture capital firm Andreessen Horowitz recently picked the UK capital for its first office outside the US, and is focusing on crypto and blockchain investments....
...ExxonMobil plans capital spending boost: The largest US oil company by sales plans to drive up capital expenditure after a period of austerity....
...Google paused its latest artificial intelligence model, Gemini, from generating images of people over concerns at its depiction of different ethnicities and genders....
...Investors await the launch of Alphabet’s AI Gemini Ultra, as well as more concrete evidence that AI integrated services will transform into serious financial gains....
...DCG’s board comprises several high-profile investors including Lawrence Lenihan, co-founder of venture capital company FirstMark Capital....
...Last week, Google announced a premium subscription plan costing $20 a month for use of its most capable model, Gemini Ultra, which early users claim is indistinguishable from OpenAI’s GPT-4....
...Google had to take its AI photo generator Gemini offline, after it produced historically inaccurate and offensive images, such as black people as Nazis....
...Venues including Coinbase and Gemini offer prime broking — raising these concerns. Prime brokerage is an inherently risky business, even for the biggest banks....
...Smart reads Venture capital’s Minsky moment After burning billions of dollars on crypto and metaverse investment, the venture capital industry is having to rethink its approach, the FT reports....
...Genesis Global Capital, another subsidiary, listed an asset and liability range of $1bn-$10bn, as well as more than 100,000 creditors....
...The Financial Times approached the following companies: Cryptocurrency exchanges: Binance, Coinbase, Kraken, KuCoin, Bitstamp, Bitfinex, OKX, Bybit, Gemini, Huobi, Crypto.com and Coincheck....
...Other once prominent firms like Terraform Labs and Three Arrows Capital also collapsed....
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