Microsoft reportedly ready to abandon high-stakes talks with OpenAI
PANews reported on June 19 that Microsoft (MSFT.O) is ready to abandon high-stakes negotiations with OpenAI on the future of its alliance, according to the Financial Times. The report quoted people familiar with the matter as saying that if the two sides can't reach an agreement on key issues such as Microsoft's future shareholding ratio, the technology giant is considering suspending negotiations with the developers of ChatGPT. According to the report, Microsoft plans to rely on existing commercial contracts to maintain its right to use OpenAI technology until 2030. The Wall Street Journal reported on Monday that OpenAI executives are considering accusing Microsoft of anti-competitive behavior in the transaction. The report added that the two sides are discussing revising the terms of Microsoft's investment, including its future shareholding ratio in the artificial intelligence startup. In response, the two companies said in a joint statement: "Negotiations are still ongoing, and we are optimistic about building cooperation that will continue for many years to come."
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Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more