theblock

Cipher Digital adds third AI lease, lines up $200 million credit facility as CIFR shares rise 10%

Cipher is increasingly leaning on debt-backed, flexible financing rather than equity issuance as it scales out its AI infrastructure. The steady stream of long-term leases suggests hyperscalers are ...
CoinDesk

Cipher Digital stock rises 9% on new data center deal with Hyperscale tenant

Cipher Digital (CIFR) shares jumped 9% in pre-market trading after the company, formerly a bitcoin miner, announced a new long-term data-center lease and said it secured a $200 million revolving ...
The New York Times

I Worked for Block. Its A.I. Job Cuts Aren’t What They Seem.

Mr. Zamost was the head of communications, policy and people at Square, now known as Block, from 2015 to 2020. See more of our coverage in your search results.Encuentra más de nuestra cobertura en los ...
Forbes

Block Fired 40% of its People. Wall St. Cheered. It’s Just the Start.

Forbes contributors publish independent expert analyses and insights. I write about how AI will impact people, business and society. This voice experience is generated by AI. Learn more. This voice ...
The Desert Sun

Block CEO Jack Dorsey cites AI for layoff of nearly 50% of workers

The CEO of Block, Inc., announced layoffs of about half its workforce on Feb. 26, citing AI as the reason for the large cuts and warning the tech industry of a larger push towards AI. Jack Dorsey, CEO ...
Business Insider

Here's what smart people are saying about Jack Dorsey slashing Block's workforce

Jack Dorsey announced major layoffs at Block, cutting nearly half of its workforce. Dorsey said AI was behind the cuts, and the company's stock rose over 20% in after-hours trading. Tech and VC ...
Reuters

Jack Dorsey’s Block to cut nearly half its workforce in AI overhaul, shares surge

Block to cut over 4,000 jobs CEO says AI has changed how a company is run Stock surges 25% after market Analysts call cuts a "seminal moment" in AI era Feb 26 (Reuters) - Block (XYZ.N), opens new tab ...
CNN

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey. Dorsey thinks ...
SFGate

Jack Dorsey lays off 4,000, says others will do same 'within the next year'

Oakland-based Block, the Jack Dorsey-run tech giant behind Square and Cash App, is laying off almost half its sprawling workforce — and Dorsey delivered the news with a giant warning for the rest of ...
Reuters

Exclusive: Trump eyes Pentagon AI program for trade block's minerals pricing, sources say

Pentagon's OPEN program to help set China-free minerals prices Four critical minerals to be AI model's first focus Program aims to help offset Chinese market interference Questions on how tariffs ...
Inc

Jack Dorsey Faces Employee Backlash After Mass Layoffs and AI Mandates at Block

Jack Dorsey’s decision to lay off hundreds of employees and aggressively promote the use of artificial intelligence at his financial services company, Block Inc., has led to riled workers downgrading ...