Author: nripn

(Bloomberg) — Oracle Corp. plans to spend $6.5 billion to build a cloud services center in Malaysia, becoming the latest global tech name to invest in AI infrastructure in Southeast Asia.Most read on BloombergThe American company will establish a cloud region in the country, essentially a network of data centers providing services to enterprise customers. This includes access to Nvidia Corp. chips. which can be used to accelerate the development of generative AI, he said in a statement.Oracle’s commitment marks the latest major spending by a major U.S. technology company in Southeast Asia, which is rapidly becoming a cloud services…

Kenya’s competition authority fines Baltic lender ElevationKenyan subsidiary of for misleading its customers, highlighting the unethical operations of a section of digital lenders in the country despite a new law. Source link Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It is possible that some of the investors we feature have ties to other companies, including competitors or companies we write about. However, we would like to assure our readers…

IPO rebound and FinTech growth potential help Nasdaq: Analyst doubles down on stocksNasdaq Inc. (NASDAQ:NDAQ) stock gained after B of A titles analyst Craig Siegenthaler double stock upgrade of Underperform to Buy and raised its price target from $53 to $90.Siegenthaler applied a 25x multiple to its 2026 EPS to derive the price target. The multiple implies a slight discount to Nasdaq’s ambitious software and information services peer group, but is a premium to its current valuation.The analyst highlighted that the solutions segment now accounts for 78% of revenue. Peers from information services like S&P Global Inc. (NYSE:SPGI), Moody’s Corp.…

By Anna Tong, Kenrick Cai, Krystal Hu(Reuters) – As global investors such as Thrive Capital and Tiger Global invested $6.6 billion in OpenAI, the creator of ChatGPT was looking for commitment beyond just capital – they also wanted investors to refrain from to finance five companies they perceive as close competitors, sources told Reuters. .The list of companies includes competitors developing large language models such as Anthropic and Elon Musk’s xAI. Also on the list is OpenAI co-founder Ilya Sutskever’s new company, Safe Superintelligence (SSI). These companies are racing against OpenAI to build large language models, which requires billions in…

Understanding the Market Dynamics The FinTech in real estate market is experiencing rapid transformation, driven by technological advancements and shifts in consumer behavior. The industry is evolving with the rise of digital mortgage solutions, blockchain applications, automated valuation models (AVMs), and AI-driven property management platforms. However, geopolitical tensions and economic uncertainties are influencing global financial markets, including real estate FinTech. This report explores: Key Trends and Market Segmentation The FinTech in Real Estate market can be categorized based on: By Type: By Application: The growth of AI and automation in real estate is enabling faster decision-making, improved customer experiences, and…

– Between 2017 and 2023, BAC’s fintech ecosystem recorded growth of 340%.- Brazil, Mexico and Colombia represent 57% of total companies.- Fintechs are strengthening their position in the payments segment.BOGOTA – The fintech ecosystem has seen more than 340% growth in the number of tech finance startups created over the past six years, from 703 companies in 18 countries in 2017, to 3,069 in 26 countries in 2023, according to the fourth report in the Fintech in Latin America and the Caribbean series (available in Spanish). The joint study by the Inter-American Development Bank (IDB) and Finnovista was presented at…

(Bloomberg) — Google is working on artificial intelligence software that resembles the human ability to reason, similar to OpenAI’s o1, marking a new front in the rivalry between the tech giant and the fast-growing startup.Most read on BloombergIn recent months, several teams at Alphabet Inc.’s Google have made progress on AI reasoning software, according to people with knowledge of the matter, who asked not to be identified because the information is private. These software programs are better at solving multi-step problems in fields such as mathematics and computer programming.AI researchers study models of reasoning as they search for the next…

Fintech has been driving change in financial services for over a decade, attracting billions of dollars worth of investment. Recent quarters have seen a slowdown in the pace of deals being closed, but fintech innovation remains a very powerful economic driver in the global economy. Finding the right focus Source: Pulse of Fintech, biannual analysis of global fintech financing by KPMG Despite some slowing in the pace at which investments in fintech are being made, there is no shortage of investor optimism in this area and there is every reason to expect that fintech will continue to help define the…

MEXICO CITY (Reuters) – The fintech arm of Latin American e-commerce giant MercadoLibre, Mercado Pago, has submitted its application for a banking license to the Mexican regulator, the unit said on Wednesday.The request was sent to the National Banking and Securities Commission (CNBV) earlier this month, Mercado Pago said in a statement.In May, Mercado Pago said it aimed to become the country’s largest digital bank through the license.“This will allow us to continue to innovate and expand our financial services, which millions of people need,” Pedro Rivas, director of Mercado Pago in Mexico, said in the release.The license would give…

Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It is possible that some of the investors we feature have ties to other companies, including competitors or companies we write about. However, we would like to assure our readers that this will have no impact on the integrity or impartiality of our reporting. We are committed to providing accurate and unbiased news and information to our audiences, and we will continue…