Author: nripn

ASML (ASML) a disappointing earnings report on Tuesday fueled a selloff in chip stocks that sent Nvidia (NVDA) and others in the industry, but industry analysts told Yahoo Finance that doesn’t mean demand for AI chips is weakening more broadly.ASML — previously the most valuable technology company in Europe before stocks began to plunge this week — is the main maker of machines used by TSMC (TSM) to create Nvidia’s (NVDA) chips. The Dutch company’s quarterly financial report, released a day early on Tuesday, apparently by mistake, contributed to a massive drop in chip stocks. The PHLX Semiconductor Index (^SOX)…

Johann Kerbrat, vice president and general manager of Robinhood Crypto, dispelled rumors that the company was considering issuing its own stablecoin.Johann Kerbrat, vice president and general manager of Robinhood Crypto, dispelled rumors that the company was considering issuing its own stablecoin.“At the moment we have no short-term plans to launch a stablecoin,” Kerbrat saidpushing back against recent rumors that had gained ground following a Bloomberg report.That report suggested that Robinhood and European fintech company Revolut were exploring ways to tap into the growing stablecoin market.Although Revolut did not comment, sources close to the European neobank suggested that a stablecoin was…

India’s efforts towards a cashless economy have seen significant developments, including the integration of credit card payments into the Bharat Bill Payment System (BBPS). The Reserve Bank of India (RBI) has mandated that all credit card bill payments be routed through BBPS, putting it at the forefront of India’s digital payments landscape. The move improves security and transparency, minimizes fraud and provides a unified payment interface. The rise of BBPS, alongside emerging solutions like credit on UPI, which enables on-demand borrowing, highlights the evolution of the digital payments ecosystem. According to a PwC report, The Indian digital payments sector grew…

(Bloomberg) — Self-driving startup Pony.ai plans to publicly file for a U.S. IPO as early as this week, according to people familiar with the matter.Most read on BloombergThe company is seeking to raise up to $300 million through the listing, the sources said, speaking on condition of anonymity. Guangzhou Automobile Group, one of China’s top automakers and a backer of another self-driving car maker, WeRide Inc., plans to invest in the IPO, the sources said.The timing and size of the IPO could still change, the sources said.Pony.ai had considered selling shares in the United States in 2021, but had put…

Austin Omala and Kobena Idun instantly clicked when they met by chance at the Curry Student Center during their freshman year at Northeastern. Now in their fourth year, Omala and Idun – business administration and computer science majors, respectively – are inseparable after discovering a shared passion for the intersection of finance and data science. The two men frequently pitched ideas to each other over the years, while gaining experience at cooperatives like Fidelity Investments and Morgan Stanley. In May 2023, Omala and Idun came together with the same idea: an easy-to-use financial investment app. The idea stuck and it…

FiX25 Returns to Help Catalyze Global Fintech Innovation in the Caribbean The International Fintech Islands Experience (FiX) returns to the Caribbean for the third consecutive year, January 22-24, 2025, focusing on three main pillars, as it seeks to fulfill its mission of developing the fintech ecosystem in the region. The highly successful financial conference will once again be held at Sam Lord’s Castle Wyndham Grand Barbados Resort. FiX25 aims to bring together a community of disruptive and innovative leaders who are redefining financial services under its fundamental pillars: entrepreneurship, policy and talent. These pillars are designed to foster a thriving…

One of the most popular use cases for AI in financial services is leveraging the technology to help businesses address the challenges and opportunities associated with unstructured data. In our last Live interview from FinovateFall last month, Finovate VP and host Greg Palmer sits with Perry Rotella, Managing Director of Financial Services at Boxto discuss the growth of unstructured data within financial institutions, the challenges these companies face in managing this data, and the role AI can play in helping them analyze unstructured data to improve everything from customization to compliance. “Unstructured data actually represents the vast majority of data…

ContributedThis content is sourced or sourced from third parties but has been subject to Finextra editorial review. The third quarter results are in and it’s good news for the fintech sector. With $3.3 billion raised, $1 billion more than any other sector, fintech retained its first place for 2024. The news arrives via Dealroom UK Q3 Innovation Updatewhich shows that even though investment in UK startups slowed over the summer, UK startups still ordered $2.9 billion in new capital in the third quarter, with the largest share raised in equity rounds. table of series B and C. So far, UK…

Early-stage venture capital firm 8i Companies has fully divested its investment in M2P Fintech, realizing a remarkable 12x return on its initial capital. The company had initially invested Rs 9.7 crore in the fintech startup in January 2020, and with its recent exit, it made a total return of Rs 115.9 crore. This exit was part of M2P Fintech’s recent $100 million capital raise, which included primary and secondary transactions. “We had the opportunity to return capital to our investors, and our limited partners are receiving more capital than they invested,” said Vikram Chachra, founding partner of 8i Ventures, describing…

Utilities have been on fire this year as excitement over growing demand for AI-driven electricity pushes the sector higher.Concrete example: the S&P 500 Utilities ETF (XLU) is up 29% so far this year – the best-performing sector yet, compared to the broader index’s 23% rise.Much of the gains come from enthusiasm among power producers who stand to benefit from the electrification boom – which includes Big Tech’s massive appetite for AI data centers and electric vehicles.By 2050, electricity is expected to become the world’s largest energy source, according to a recent study. McKinsey study. Public services were the best performers…