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OpenAI hit a $300 billion valuation after completing its latest round of fundraising that was five times oversubscribed.
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The ChatGPT maker snagged $8.3 billion months earlier than expected, according to The New York Times’ DealBook. The fundraise is part of the artificial intelligence startup’s plan to secure $40 billion in funding this year, to which SoftBank has...
Six banks were rated “outstanding” in the latest list of banks examined for Community Reinvestment Act compliance by the Office of the Comptroller of the Currency.
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Among the other banks whose evaluations were made public in July, nine were rated “satisfactory” and none were rated “needs to improve” or “substantial noncompliance,” the OCC said in a Friday (Aug. 1) press...
Here are the top artificial intelligence (AI) stories of the week:
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Agentic AI Systems Have to Earn Trust in 3 Ways From Enterprises
CFOs are nearly universally aware of agentic artificial intelligence systems, but most are skeptical about deploying them. Many remain cautious amid concerns about implementation risks, oversight challenges and unproven ROI.
According to...
Stablecoins are shifting from cryptocurrency novelty to enterprise-grade payment infrastructure.
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A growing cohort of financial leaders, from Fortune 500 treasury desks to FinTech integrators, is moving stablecoins from theory to operational pipelines. The shift is less about speculative upside and more about plumbing — digitizing conventional rails with programmable,...
The mood of consumers improved for a second consecutive month in July, though it remains worse than it was in December, according to the latest installment of the University of Michigan’s Surveys of Consumers, released Friday (Aug. 1).
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The rise in July from June was measured at 1.6%, stepping up to 61.7 from 60.7, according to the report.
Consumer sentiment remains 17%...
The unemployment rate remained above 4% in July despite job gains made during the month, according to data released Friday (Aug. 1) by the Bureau of Labor Statistics (BLS).
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The unemployment rate stood at 4.2% in July, roughly stable versus the three months prior, the BLS said in a Friday press release.
July’s employment gains totaled 73,000 jobs, exceeding June’s...
As the U.S. reignites trade tensions with the rest of the world, corporate finance chiefs and product teams aren’t panicking. They’re planning.
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In contrast to the chaotic uncertainty of President Donald Trump’s past tariff flare-ups, executives now see a clearer, if potentially harsher, path forward. Data from an upcoming edition of the 2025 Certainty Project by PYMNTS...
Small and medium-sized businesses (SMBs) developing or using artificial intelligence (AI) systems must comply with the European Union’s AI Act, even if they are not based in or have a presence in the bloc.
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Experts say that due to the Act’s scope, many U.S.-based SMBs could be affected and should take steps now to evaluate their exposure. This includes using AI to...
Handwave has raised $4.2 million in a seed round to launch its palm-based authentication method across Europe and the United States.
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The company’s technology enables payments, age verification and loyalty programs to be done “with one wave of a hand,” according to its website.
“Using a combination of surface palm imaging and near-infrared vein mapping, Handwave creates...
Most chief financial officers (CFOs) say they understand the concept of agentic artificial intelligence — systems that can plan, reason and take actions with minimal or no human input — but few are ready to implement the technology.
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According to a July 2025 PYMNTS Intelligence report, nearly all CFOs polled were aware of agentic AI, yet only 15% expressed interest in...