Fed SVB takeover saves AI startups, while Big Tech prepares new AI power plays | The AI Beat
March 13, 2023
Over the weekend, the hype around generative AI went strangely quiet, as the fallout from the failure of Silicon Valley Bank rapidly rippled through the tech world. By Sunday, executives at thousands of AI startups with deposits in SVB breathed a sigh of relief, as top U.S. federal regulators announced that the FDIC will take control of the bank and protect all depositors.
In a Reuters report…