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Venture capitalist David Sacks, who is serving as President Donald Trump’s AI and crypto czar, said Thursday that there will be “no federal bailout for AI.” From a report: “The U.S. has at least 5 major frontier model companies. If one fails, others will take its place,” Sacks wrote in a post on X. Sacks’ comments came after OpenAI CFO Sarah Friar said Wednesday that the startup wants to establish an ecosystem of private equity, banks and a federal “backstop” or “guarantee”…
