FinTech
Affirm CEO says furloughed federal employees are starting to lose interest in shopping
Affirm CEO Max Levchin said Friday that while the buy now, pay later firm isn’t seeing credit stress among federally employed borrowers due to the government shutdown, there are signs of a change in shopping habits. “We are seeing a very subtle loss of interest in shopping just for that group, and a couple of […]
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Block sinks 10% after weak third quarter results miss Wall Street estimates
Block shares fell 10% Friday after weak third-quarter earnings fell short of Wall Street expectations and showed slowing profit growth for the company’s Square service. Here is how the company did compared with LSEG estimates: Earnings per share: 54 cents adjusted vs. 67 cents expected Revenue: $6.11 billion vs. $6.31 billion expected Revenue for the quarter was […]
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Google’s decade-long bet on custom chips is turning into company’s secret weapon in AI race
Sopa Images | Lightrocket | Getty Images Nvidia has established itself as the undisputed leader in artificial intelligence chips, selling large quantities of silicon to most of the world’s biggest tech companies en route to a $4.5 trillion market cap. One of Nvidia’s key clients is Google, which has been loading up on the chipmaker’s […]
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Robinhood doubles revenue as it beats third-quarter earnings expectations
Robinhood beat Wall Street expectations for the third quarter on Wednesday, extending a hot streak that has made it one of the biggest large-cap U.S. tech stocks this year. Here is how Robinhood’s results compared to Wall Street estimates, according to analysts surveyed by LSEG: Earnings per share: 61cents vs. 53 cents expected Revenue: $1.27 […]
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Standard Chartered CEO believes nearly all global transactions will move to the blockchain ‘eventually’
Standard Chartered Plc bank branch in Hong Kong Bloomberg | Bloomberg | Getty Images Bill Winters, CEO of Standard Chartered, foresees a future in which nearly all global transactions are conducted on a digital blockchain ledger, he told a crowd in Hong Kong on Monday, as crypto adoption amongst mainstream banking and finance institutions grows. […]
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Evolve Bank CEO fired after propositioning FBI agent who pretended to be a teen boy
Evolve Bank CEO Bob Hartheimer booking photo. Source: Shelby County Jail Bob Hartheimer, CEO of Tennessee’s Evolve Bank & Trust, was fired after U.S. law enforcement officials caught him propositioning a law enforcement officer posing as a 15-year-old boy on gay dating app Grindr. On Oct. 19, an employee of the Federal Bureau of Investigation […]
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Affirm gets boost from New York Life with $750 million loan deal
Thomas Fuller | Sopa Images | Lightrocket | Getty Images Affirm is expanding its partnership with New York Life Insurance, a move that highlights how traditional financial giants are deepening their exposure to fintech-driven consumer lending. Under the new agreement, New York Life will purchase up to $750 million worth of Affirm’s installment loans through […]
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Fiserv stock craters 44%, on pace for worst day ever after company slashes guidance
Key Points Fiserv shares were on track for their worst day ever after the fintech company slashed full-year guidance. “Our current performance is not where we want it to be nor where our stakeholders expect it to be,” wrote CEO Mike Lyons in a release. Fiserv added three new board members and announced a new […]
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PayPal signs deal with OpenAI to become the first payments wallet in ChatGPT
Alex Chriss, CEO of PayPal Inc. Courtesy: PayPal PayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through the leading consumer AI tool, the company told CNBC exclusively. The agreement, sealed over the weekend, means that starting next year, both sides of […]
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Google and Anthropic announce cloud deal worth tens of billions of dollars
Anthropic and Google officially announced their cloud partnership Thursday, a deal that gives the artificial intelligence company access to up to one million of Google’s custom-designed Tensor Processing Units, or TPUs. The deal, which is worth tens of billions of dollars, is the company’s largest TPU commitment yet and is expected to bring well over […]
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