Author: nripn

A fintech startup isn’t looking to exit the Manhattan office market. Quite the contrary, in fact.Ramp has signed a deal with Williams Equities to expand by 66,000 square feet at 28-40 West 23rd Street, according to the Commercial Observer. reported. The startup is also moving from subletting to direct leasing on a separate floor, bringing the property’s total square footage to 132,000 square feet.The rent requested for the transaction was not disclosed. Asking rent in the broader Midtown South submarket was $84.50 per square foot in the second quarter, according to CBRE.All of Ramp’s space in the Flatiron District property…

(Bloomberg) — Chinese AI chipmaker Cambricon Technologies Corp. climbed its daily limit by 20% on Monday, leading a sectoral rally after Bloomberg News reported that Beijing was stepping up pressure on domestic companies to abandon Nvidia Corp. processors. for the benefit of local alternatives.Most read on BloombergCambricon, the largest publicly traded designer of chips that underpin AI development, has secured the maximum allowed in intensive trading. The company led a group of microchip companies that ranked among the biggest gainers on the benchmark CSI 300 index. Semiconductor Manufacturing International Corp. jumped nearly 20% in Shanghai, while gear maker Naura Technology…

Photo: sudok1/Getty Images THE Ministry of Health and Social Services announced funding for antibiotic research and development using generative AI. Stop Emerging Threats (TARGET), through the Advanced Research Projects Agency for Health (ARPA-H), will use genAI to accelerate the discovery and development of new classes of antibiotics to combat antimicrobial resistance (AMR). Bacterial infections are a leading cause of death worldwide and cost U.S. healthcare systems billions each year. There is an urgent need to develop new antibiotics as the prevalence of antibiotic-resistant bacteria increases, HHS said. HHS said that conventional efforts to identify and develop new antibiotics require extensive…

Tech companies are scouring the country for electricity to power artificial intelligence are increasingly finding that there is a waiting list.In many places across the country, high-voltage electrical wires are running out of space, their connection points blocked by AI data centers, new factories or charging infrastructure for electric vehicles.Most read in the Wall Street JournalA mad rush to block available energy ensued.The tech industry is moving from market to market looking for places that can connect campuses that would consume up to a gigawatt of power, about as much as San Francisco uses. Some requests are four to five…

SUMMARY PB Fintech is likely to make a one-time investment of $100 million to acquire a 30% stake in a new healthcare company after gaining approval from its board of directors. Brokerage firm Bernstein maintained its “outperform” rating on PB Fintech with a price target of INR 1,750 per share. PB Fintech reported a consolidated net profit of INR 59.98 Cr in Q1FY25 compared to a loss of INR 11.9 Cr in the year-ago quarter. Shares of PB Fintech, the parent company of Politics Bazaar and Paisabazaar, jumped over 4% to INR 1,715.40 each on the BSE in today’s (September…

TEMPO.CO, Jakarta – Google CEO Sundar Pichai announced funding plans of $120 million, or around Rs 1.8 trillion, for AI education and training globally. Speaking at the UN Future Summit 2024, Pichai described AI as “the most transformative technology” of the moment.“To avoid a global AI divide,” Pichai said, as quoted by Tech Crunch, Saturday, September 21.In the global agenda, he highlighted four major opportunities to be developed with the help of AI. Artificial intelligence, he said, can help people access information in their own language, accelerate scientific discovery, provide warnings and tracking of climate disasters, and drive economic progress.Dubbed…

BASIC Home Loan, a fintech startup, raised $10.6 million in its Series B funding round. The round was led by Bertelsmann India Investments (BII), alongside CE-Ventures. Existing investors Ashish Kacholia, Gruhas, Let’s Venture, 9Unicorns and Venture Catalysts also participated in the new round of core home loans. “With its superior technology stack, the company has created a simple, unique and transparent solution in the industry and become a leading channel partner for lenders in less than 3 years. We are seeing strong tailwinds in the sector due to favorable government policies, especially for low and middle income groups, increasing nuclearization…

Healthcare Finance NewsAI goes beyond experimentation modeCIOs and other IT leaders are expected to explore practical applications of AI this year, such as its use in administrative functions,….12 hours ago

Fintech start-up Basic home loanan automation platform real estate loans for middle and low income households in India, raised $10.6 million (Rs 87.5 crore) under a Series B financing round. The investment was led by Bertelsmann India Investments (BII), the strategic investment arm of German giant Bertelsmann SE & Co. KGaA, as well as CE-Ventures, the venture capital platform of Crescent Enterprises, a leading diversified global enterprise headquartered in the Arab Emirates united.Existing investor Ashish Kacholia invested further and increased his stake in the company, while the round also saw participation from existing investors including Gruhas, Let’s Venture, 9Unicorns and…

Finastra today announced the appointment of Mike Stawchansky as Senior Vice President and Chief Technology Innovation Officer. Mike works in the CEO’s office and is responsible for Finastra’s technology and innovation client initiatives. Mike said, “I am very excited to be part of Finastra and am truly inspired by the passion and enthusiasm I see here around providing innovative and modern technology solutions to our clients. Additionally, it is an honor to lead such an advanced Generative AI (Gen AI) team. Finastra is ahead of the curve when it comes to training its staff on how to use this technology…