Microsoft is celebrating a “ Future of Work with AI” on Thursday, focused on AI productivity. And while startup founders struggled through sleepless nights this weekend worrying about making payroll, it was clear that Microsoft and Google weren’t sleeping either, before more Big Tech AI news was lined up for this week. Google and Microsoft prepare new AI announcementsīut OpenAI, which enjoys billions of dollars in funding from Microsoft, had little to worry about after the failure of SVB. It’s hard for me to imagine depositors actually losing money here, but in the meantime, it’s very stressful…” It is very encouraging to see our community rise to the challenge together!”Īnd Sam Altman, CEO of OpenAI, told investors that they wanted to help “offer emergency cash to their startups that need it for payroll or whatever. He also noted that he was seeing “the best of AI and the world of startups,” with “people helping each other, sharing advice, and even transferring funds in trusteeship and documentless so someone else can pay the payroll.

I don’t see the need to bail out the bank’s investors, but failing to protect depositors, who didn’t take reckless risks, can mean big layoffs, damage confidence in banks, and set back AI and technological innovation for years.” Several AI leaders weighed in or offered support during the exciting moments of the weekend.Īndrew Ng, founder of deep learning AI, co-chairman and co-founder of Coursera, and an adjunct professor at Stanford University, tweeted: “Glad that the US government seeks to protect SVB depositors.

Virtual machine consolidation needed