PRESS DIGEST-Financial Times - May 19

The following are the ​top stories in the Financial ​Times. Reuters has ‌not verified ​these stories and does not vouch for their accuracy.

The following are the ​top stories in the Financial ​Times. Reuters has ‌not verified ​these stories and does not vouch for their accuracy. Headlines

* Standard Chartered to ‌cut almost 8,000 jobs as AI use escalates * Google and Blackstone to create AI cloud group

* SpaceX IPO set to ‌hand $20 billion stake to one hedge fund * Elon Musk ‌loses case against OpenAI after two hours of jury deliberations

Overview * Standard Chartered plans to cut more than 15% of its back-office jobs by ⁠2030 — ​about 7,800 ⁠roles — as the Asia-focused bank increases its use of AI under a ⁠new strategy announced by chief executive Bill Winters on Tuesday.

* Alphabet's ​Google and Blackstone said on Monday they are forming an artificial-intelligence ⁠cloud business, backed with $5 billion from the alternative asset manager. * Dan Sundheim’s ⁠D1 ​Capital Partners will have a stake worth about $20 billion if SpaceX is valued at the expected $1.75 trillion.

* A U.S. jury ⁠on Monday ruled against Elon Musk in his lawsuit against OpenAI, ⁠finding ⁠the artificial intelligence company not liable to the world's richest person for having allegedly strayed from ‌its original ‌mission to benefit humanity. (Compiled ​by Bengaluru newsroom)