Author: nripn

Driven by strong demand for AI-related memory products, Nvidia (NVDA, Financial data) supplier SK hynix achieved record financial performance for the third quarter of 2024. With sales of 17.57 trillion won, operating profit of 7.03 trillion won and net profit of 5.75 trillion won, the most great quarterly performance from the company to date. Operating profit and net profit exceeded peaks reached during the semiconductor boom in the third quarter of 2018; revenue broke the record of 16.42 trillion won set in the second quarter of 2024. The company attributes higher sales of high-value goods, including enterprise SSDs and high-bandwidth…

By Gloria Mathias October 25, 2024 Bny United Arab Emirates Financial technology FinTech continues to play a central role in transforming and reshaping the traditional contours of the financial sector. As technology becomes more intertwined with financial services, FinTech innovations are not just incremental but rather revolutionary, paving the way for improved efficiency, accessibility and innovative business models. This week’s FinTech Focus presents a selection of the most significant developments that highlight the dynamic nature of this sector. Let’s look up six announcements made by FinTech bigwigs this week: BNY is delighted to announce a first-of-its-kind international business alliance with…

In the evolving fintech or financial technology landscape, India sits at the intersection of innovation and regulation. What began as a quest for stability and oversight has transformed into a dystopian odyssey, where good intentions pave the way for chaos and unintended consequences lurk around every corner. Our story today begins with a modest trigger: the RBI’s cautious instructions to Kotak Bank, halting the onboarding of new digital customers and suspending credit card issuances. Regulatory zeal, ostensibly intended to prevent potential failures, lacks a tangible basis for failures. This is reminiscent of regulatory crackdowns of the past, where rigid controls…

(Reuters) – Stripe will buy stablecoin infrastructure provider startup Bridge, the fintech said in a tweet on Monday without disclosing the value of the deal. The deal is valued at $1.1 billion, Forbes reported last week, citing people familiar with the matter. Contacted by Reuters, Stripe declined to comment on the amount of the transaction. Stripe, founded by billionaires John Collison and Patrick Collison in 2010, was valued at $65 billion earlier this year and is among the most valuable private startups in the United States. Digital currencies are gaining traction after the U.S. Securities and Exchange Commission approved Bitcoin…

Artificial intelligence (AI) will profoundly change the future of finance and money. And according to a new report from Citi GPS, this could potentially push global banking sector profits to $2 trillion by 2028, an increase of 9% over the next five years. Just as the steam engine powered the industrial revolution and the Internet ushered in the information age, AI could commoditize human intelligence. Finance, a data-rich industry whose customers are rapidly adopting AI, will be at the forefront of change. Long-established jobs have been eliminated during past periods of technological transformation, only to be replaced by new ones.…

WARREN, NJ, October 23, 2024 (GLOBE NEWSWIRE) — Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech developing off-the-shelf, non-genetically engineered T cell therapies to treat infectious diseases and cancers, announces that its artificial intelligence effort, Tevogen AI, has joined Microsoft (Nasdaq: MSFT) for startups. This partnership marks a significant milestone for Tevogen, providing unprecedented access to Microsoft’s vast ecosystem. The partnership is expected to accelerate and streamline the development of Tevogen’s proprietary algorithms, significantly advancing our mission to reduce the total cost of drug development, accelerate drug discovery, and deliver life-changing therapies to…

Market analyst CB Insights included Pakistani fintech startup NayaPay in its seventh annual report Fintech 100 Listaccording to a press release published Thursday. The list includes early and mid-stage startups that are driving innovation in the fintech space, the release said, adding that the CB Insights research team selected the companies based on metrics such as transaction activity, industry partnerships, investor strength and employee headcount, among others. About 52 companies on the list are from outside the United States, the statement added, including 17 companies from “11 emerging and developing economies.” “The 2024 Fintech 100 winners are high-momentum companies shaping…

The Italian Trade Agency (ITA) celebrated the next wave of Italian fintech innovators at the Global Startup Program Demo Day, hosted at the Marina Bay Cruise Centre. As part of ‘Villaggio Italia’, an exhibition accompanying the iconic Italian Navy ship Amerigo Vespucci on its global tour, the event demonstrated Italy and Singapore’s shared vision to establish a premier fintech hub. plan in Southeast Asia. Against the symbolic backdrop of the Amerigo Vespucci, a historic vessel representing rich Italian heritage and modern ingenuity, the Demo Day highlighted the strategic cooperation between Italy and Singapore to strengthen fintech innovation. The Demo Day…

Cardano (ADA) recently expressed interest in crypto-AI through a partnership with Globant, joining projects like RCO Finance (RCOF). This partnership represents a major milestone for Cardano since the project has been primarily associated with the development of a secure and sustainable blockchain environment. In the meantime, RCO Finance (RCOF) has generated considerable interest even though it is still in its pre-sale phase. As a key player in the industry, RCOF is well positioned to manage AI solutions on blockchain. By December 2024, these two cryptocurrencies could be among the main players in the new world of crypto AI. Cardano Eyes…

CGTNThe use of Gen AI in finance is difficult to scale, analyst says. Generative artificial intelligence (Gen AI) can improve staff productivity in financial institutions, but the current success of pilot projects…11 hours ago