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The $12.5 billion in debt financing from the banks is ironclad, according to the analyst Ives, who wrote that 'the banks are essentially cemented to this Twitter debt deal and we see no way out despite the very tough debt markets today.'
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Twitter has been seeking a court order to force the completion of the merger and said it intends to close the deal at the price of $54.20 per share, which Musk proposed in a signed agreement in April.
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'Twitter will not take yes for an answer,' Musk's lawyers claim in the document. 'Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders´ interests.'
Among the many issues they are said to be discussing is whether the Tesla CEO will try to make the deal contingent on his original $12.5 billion debt-financing package, as banks try to weasel their way out of the agreement.
Not all tools have those kinds of limits. That's raised hackles in some quarters. US Rep. Anna Eshoo, a Democrat representing much of Silicon Valley, called for controls on generative AI art tools after Stable Diffusion was used "to create photos of violently beaten Asian women and pornography depicting real people," she said in a Sept. 22 letter.
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Musk seeks to stop Oct. 17 trial to close Twitter deal on agreed terms
Elon Musk Seeks To Halt Twitter Lawsuit, Expects Oct. 28 Deal Closing
And Musk could even foil his own deal by refusing to sign a letter certifying Twitter is solvent, though the judge in the case is likely to force the billionaire to sue the banks for the agreed-upon money under the New York law that governs them.
Trying to prevent AI image abuse OpenAI, which says its mission is "to ensure that artificial general intelligence benefits all of humanity," emphasizes controls designed to prevent people from abusing Dall-E's capabilities. That means no sexual or violent content or attempts to create images of public figures. OpenAI has a whole system to help moderators detect problems automatically.
An attorney representing a proposed class action against Musk on behalf of Twitter shareholders wrote to McCormick to say Musk should be required to make a 'substantial deposit' in case he again reneges on his commitment to close.
The $12.5 billion in debt financing from the banks is ironclad, according to the analyst Ives, who wrote that 'the banks are essentially cemented to this Twitter debt deal and we see no way out despite the very tough debt markets today.'
According to the filing, lawyers representing the banks providing debt financing have reassured the billionaire that they are prepared to honor their obligations, and proceeding with a lawsuit could drag out payment for months.
'The parties have not filed a stipulation to stay this action, nor has any party moved for a stay. I, therefore, continue to press on toward our trial set to begin on October 17, 2022,' wrote Chancellor Kathaleen McCormick, the judge on Delaware's Court of Chancery, in a court filing on Wednesday.
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Elon Musk and Twitter at Odds Over Terms of Agreement to Close Deal - WSJ
Twitter Wants Assurances from Musk as Takeover Talks Resume - The New York Times
Elon Musk Offered to Buy Twitter at a Lower Price in Recent Talks - The New York Times
Dall-E also could be spreading to other apps and services. OpenAI has begun working on a programming interface that could let businesses incorporate its results, it said Wednesday. That's already happening elsewhere, for example with a Stable Diffusion plugin for Adobe's Photoshop image-editing software.
Artificial intelligence technology today generally refers to systems trained to recognize patterns in immense quantities of real-world data. The approach is revolutionizing computing, producing useful results in recognizing images, Pkv games screening spam, preventing fraud and controlling self-driving cars.
Tech giants are investing deeply in AI technology. Later this week, Tesla plans to hold an AI Day event where it's expected to detail its Optimus humanoid robot and FSD technology it hopes will lead to self-driving cars.