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 ...
Reuters

Block shares soar as Dorsey leans on AI to trim workforce

Feb 27 (Reuters) - Block (XYZ.N), opens new tab shares soared more than 16% on Friday after the fintech firm announced it would nearly halve its workforce as part of an overhaul to embed artificial ...
Business Insider

Jack Dorsey says Block overhired during COVID, but to blame layoffs on that alone 'misses all the complexity'

Every time Thibault publishes a story, you’ll get an alert straight to your inbox! Enter your email By clicking “Sign up”, you agree to receive emails from ...
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 ...
Fast Company

Jack Dorsey makes a grim prediction about the future of work as he lays off 4,000 Block employees in AI push

Jack Dorsey, CEO of Block Inc, is not only laying off nearly half of the company’s workforce, but he wants investors to think he’s an AI-focused trailblazer for doing so. In a letter to shareholders ...
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 ...