Today's top 10: Warsh to be sworn in as Fed Chair; Google and Blackstone team up on AI cloud; Meta plans 20% headcount cut

Here are today's top 10 stories to get you up to speed: 1) Kevin Warsh is expected to be sworn in as the next Federal Reserve Chair on Friday, succeeding Jerome Powell. 2) Google and Blackstone are forming a joint venture to build a new AI cloud company powered by Google's specialized chips. Blackstone is backing the effort with a $5 billion equity commitment. 3) Bitwise said it will hold $HYPE on its balance sheet and will direct 10% of the management fee from its Hyperliquid ETF (BHYP) to the token. 4) Meta plans to cut 20% of its global workforce and redeploy 7,000 employees into AI initiatives as part of a restructuring slated for May 20, Reuters reported. 5) The SEC is rescinding its decades-old "gag rule," meaning companies and individuals will no longer be required to stay silent after settling enforcement actions. 6) Elon Musk said he will appeal to the Ninth Circuit after a court dismissed his case against OpenAI. 7) Anthropic doubled token limits across all Claude plans, increasing capacity for Claude Design users. 8) U.S. CPI inflation is projected to climb above 5% this year if recent monthly trends persist, which could mark the highest inflation rate since February 2023. 9) A senior U.S. official said Iran's latest proposal to end the war is "insufficient," raising the risk of renewed conflict, Axios reported. 10) Minnesota's governor signed a bill allowing banks and credit unions to offer Bitcoin custody services.