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Breakingviews - AI investments carry whiff of vicious circles past
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Artificial intelligence is spawning some genuinely concerning financial decisions. As technology titans jockey to back hot new startups, they are extracting explicit or implicit promises of revenue in return. The chaotic week of upheaval at OpenAI, the Microsoft-backed owner of ChatGPT, provides a window into how these sorts of supposedly virtuous circles have a way of turning vicious.
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