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Bankrupt AI Startup Wave Seeks $28M DIP Loan Over Protests

By Dorothy Atkins ( April 29, 2020, 4:39 PM EDT) -- Silicon Valley AI startup Wave Computing, which was valued at over $200 million in 2018, has filed for Chapter 11 protection and asked a judge to approve a $27.9 million debtor-in-possession loan, spurring arguments by the U.S. Trustee that the loan is inappropriately backed by a venture capital firm that is a creditor....

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