Author: nripn

As Plaid has expanded its fintech services, while expanding its customer base. Plaid got its start as a company that connected consumers’ bank accounts to financial apps, but has since gradually expanded its offerings to also include loans, identity verification, credit reporting, anti-fraud and payments. The 11-year-old company was nearly bought by Visa for $5 billion before antitrust regulators pulled the plug on that deal. Plaid then raised funds from a valuation of $13.4 billion After the deal failed and has since strived to diversify its sources of income. In its early days, the fintech giant primarily sold to other…

(Bloomberg) — Hon Hai Precision Industry Co. plans to increase server capacity to meet stronger-than-expected demand for Nvidia Corp.’s chips. used to develop AI, reflecting its expectations that spending on artificial intelligence will remain high.Most read on BloombergPresident Young Liu told Bloomberg Television that demand for next-generation Blackwell chips is “crazy,” echoing similar remarks from Nvidia CEO Jensen Huang last week.The Taiwanese company is currently building the largest server assembly plant in Mexico housing Nvidia’s most advanced Grace Blackwell chips. Hon Hai will have a planned capacity of 20,000 GB200 NVL 72 servers in 2025, according to Liu, revealing its…

Great investors tend to be avid readers, always looking for information that would give them a financial advantage. There are decades, even centuries, of examples of professionals who combined something they read (in a book, article, or regulatory filing) with their market experience to gain lucrative insight. For example, investment manager Jim Chanos’ close reading of Enron’s regulatory filings and his past experience detecting fraud led him to suspect accounting irregularities at the company. He made $500 million when Enron filed for bankruptcy in 2001. These days, however, even the most avid readers would struggle to compete with the volume…

Young fintech startup OpenBB reveals the next step in its plan to take on the heavyweights of the investment research world. The company is launching a new free version of a product that will open its arsenal of financial data and tools to more users. OpenBB is the work of a software engineer Didier Lopeswhich launched the Python-based platform in 2021 to enable amateur and enthusiast investors to perform investment research using different datasets for free, via a command line interface (CLI). The company then raise $8.5 million in start-up financing OSS Capital and angel investors such as Ram Shriramone…

Adipec, the world’s largest energy event, announced that its historic 40th edition will bring together the global energy industry to explore the key role of artificial intelligence (AI) and finance in accelerating the global energy transition. It will also include three new conferences with new voices from finance, technology, youth and the Global South to help shape a more sustainable and inclusive energy future. Organized under the patronage of HH Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and organized by Adnoc, Adipec 2024 will take place in Abu Dhabi from November 4 to 7, 2024.…

Oracle Financial Services Named Category Leader in Inaugural Edition RiskTech AI 50 2024 report from Chartis Research, a global leader in risk technology research and analysis. Oracle achieved the highest overall ranking among fifty industry players, highlighting its success in delivering powerful AI solutions – from infrastructure to AI-driven applications – that help financial services organizations operate more efficiently. effectively and mitigate risks. The RiskTech AI 50 report recognizes leaders in the financial risk management industry who have demonstrated excellence across four key criteria: impact, deployment, strategy and innovation. Oracle’s advanced AI-driven applications, particularly in the areas…

Free newsletter Get the latest Fintech Singapore news delivered to your inbox once a month Tenity, an innovation ecosystem specializing in early-stage fintech startups, is calling for applications for the ninth batch of its accelerator program in Singapore. THE Fin/Tech Accelerator Tenity Singapore The program aims to support start-up businesses looking to grow and enter new markets. The program offers startups a pre-seed investment of SGD70,000 in exchange for 2.5% equity, as well as a potential follow-on investment of up to SGD350,000, based on case-by-case assessments . There is also a SGD15,000 participation fee for the program. Participants will benefit…

Apple (AAPL) was snubbed by the investment company Jefferies (JEF) late Sunday. Jefferies analyst Edison Lee downgraded Apple shares from Buy to Hold, citing concerns about inflated expectations for its new AI-enabled iPhones.Lee said smartphone hardware is not yet advanced enough to accommodate the kind of high-tech artificial intelligence that iPhone analysts and consumers are hoping for.“Near-term expectations for iPhone 16 and even iPhone 17 are too high,” Lee wrote in a note to investors Sunday evening.Big tech companies have been racing to innovate generative artificial intelligence technologies and secure their place in an AI-dominated market. Until this summer, Wall…

Egyptian fintech startup Bokra has partnered with the Canadian International College (CIC) to launch an EGP 10 million (US$207,000) fund to support Egyptian students aspiring to become entrepreneurs. Launched in 2023 based on the belief that finance must be inclusive, transparent and socially responsible, Boukra has developed an application that offers personalized and balanced financial and investment planning across different asset classes, built for the first time on asset-backed securities. The startup raised a US$4.6 million pre-seed round funding earlier this year, and has now launched its own fund aimed at enabling changemakers with disruptive ideas at CIC to embark…

Speculation took root after a user on X claimed such a limitation on October 24. The controversial post attracted massive attention, garnering over 250,000 views, with a high engagement rate reflected by its 420 retweets and almost 2,000 likes. Coinbase quickly resolved the situation, with a spokesperson clarifying that the allegations were unfounded and confirming that no such policy was in place restricting Bitcoin withdrawals when converting to Coinbase cash balances. Coincidentally, this rumor surfaced during major crypto exchanges including Coinbasesaw massive outflows on the same date, with the price of Bitcoin reaching the $35,000 mark. Historically, these capital outflows…