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Elon Musk’s SpaceX is investing $2 billion in the multibillionaire’s artificial intelligence (AI) startup.
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That’s according to a report Saturday (July 13) by The Wall Street Journal (WSJ), citing investors close to xAI and SpaceX. The report also noted that the $2 billion would be close to half of xAI’s recent equity raise. It also marks one of SpaceX’s largest...
Welcome to the Weekender, where we trade balance sheets for belly laughs and let our hair down — figuratively, of course — on the wild frontier of AI in finance. This week, we’re taking a look at how senior executives are wielding artificial intelligence, from the genuinely savvy to the downright silly, with a focus on banking, payments, FinTech and the digital economy.
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The Consumer Financial Protection Bureau (CFPB) and retail pawn store operator FirstCash said Friday (July 11) that they reached a settlement on FirstCash’s alleged violations of the Military Lending Act (MLA).
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If entered by the court, the proposed order would require FirstCash and 18 subsidiaries to set aside $5 million for redress, pay a $4 million fine to the CFPB’s...
Market research company Numerator said Friday (July 11) that the average household spend during Amazon’s first four-day Prime Day sales event reached $156.37.
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The average order size during the event was $53.34, and nearly two-thirds of the households that shopped during Prime Day placed two or more orders, Numerator said in its 2025 Prime Day Highlights.
Reached by...
Bitcoin reportedly hit an all-time high Friday (July 11), driven in part by investors’ optimism around crypto legislation and corporate treasuries’ interest in buying bitcoin.
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Bitcoin briefly surpassed $118,000 and it rose as high as $118,872.85, CNBC reported Friday.
At the time of that report, bitcoin was on track to gain 10% for the week and have its best week since...
In March, the White House handed down an executive order mandating that the federal government will stop issuing paper checks for disbursements, effective Sept. 30, and will stop accepting them for payments “as soon as practicable.”
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Through the past several months, PYMNTS Intelligence, alongside Ingo Payments, has found that government disbursements have been...
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts.
“We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro, chief operating officer of boat rental and charter marketplace GetMyBoat, told PYMNTS. “From April [to August], we are...
In China, crypto over-the-counter (OTC) traders are being arrested in an attempt to crack down on illegal transactions, according to a report from CoinDesk.
Prominent OTC trader Zhao Dong, of crypto lending platform RenrenBit, was held up by police in the city of Hangzhou, the report says. Zhao has a prominent status among the community, and rumors online began to circulate. One poster relayed...
Two innovators approached a well-heeled investor asking for money. Their sales pitch was very convincing. They told this investor that their innovation was so incredibly cutting-edge that only the hopelessly uninformed would fail to recognize its value. The innovators said that they had picked him because he was smart and forward-thinking enough to see the potential. The investor, who prided...