Feed Items
One of OpenAI’s future data centers has reportedly secured $11.6 billion in funding commitments.
The center, set to become the ChatGPT maker’s largest, is being constructed in the Texas community of Abilene by the startup Crusoe and is critical to boosting OpenAI’s computing power, the Wall Street Journal (WSJ) reported Wednesday (May 21).
Crusoe told the news outlet that the funding, a mix of...
Target reported a 3.8% decrease in comparable sales for the first quarter and said it expects to see a low single-digit decline in sales for fiscal 2025.
“In the first quarter, our team and our business faced an exceptionally challenging environment that affected our performance with declines in both traffic and sales, most notably in our discretionary categories,” Target Chair and CEO Brian...
More than 140 organizations are asking U.S. House leaders to reject a proposed 10-year freeze on state-level regulation of artificial intelligence (AI), saying it would remove corporate accountability for any harms arising from the technology.
According to The Hill, the group sent a letter this week to House Speaker Mike Johnson, R-La., House Minority Leader Hakeem Jeffries, D-N.Y., and other...
FinTech company FIS teamed with Kipp, a collaboration platform for card issuers and merchants.
The partnership introduces what FIS called a non-sufficient funds (NSF) authorization tool for debit card issuers, according to a Wednesday (May 21) press release.
“This first-to-market offer is designed to combat the long-standing challenge of declined transactions due to insufficient funds, which can...
Consumers are tightening their grips on their wallets — digital ones and the ones kept in pockets and purses — and yet eCommerce sales still are showing momentum, though the gains are slowing.
This week, the Federal Reserve detailed that in the first quarter of 2025, U.S. retail eCommerce sales reached an estimated $300.2 billion, slightly below Q4 2024 levels but virtually unchanged overall and...
Dynamic and uncertain times can help build nimble companies.
Modern finance, IT and treasury departments are under pressure to manage a range of workloads. From traditional applications like virtual machines and databases to emerging demands such as artificial intelligence and edge computing, the complexity is escalating.
The shift is being reflected across back-office enterprise infrastructure,...
Payments tech firm Worldpay says it now offers domestic acquiring capabilities in Colombia.
It’s part of an ongoing expansion into Latin America, with Worldpay supporting some of the largest merchants in Argentina, Brazil and Mexico, the Cincinnati-based company said in a Wednesday (May 21) news release.
“Our vision to unleash the potential of every business means breaking down barriers for...
Binance has integrated its payment solution with Pix, Brazil’s instant payment system.
The integration, announced Wednesday (May 21), allows people to use Binance Pay and Pix to make instant payments in the local currency using cryptocurrencies and transfers to any individual or merchant in Latin America’s largest country.
“This is a significant milestone because it is the first time Binance Pay...
Payments and banking startup Airwallex is aiming to expand after raising $300 million.
The company’s Series F funding round values Airwallex at $6.2 billion, and will allow it to expand its infrastructure into new markets and continue refining and scaling its software, according to a Wednesday (May 21) news release.
“The global financial system wasn’t built for today’s borderless economy,”...
B2B payments are the lifeblood of global business, and few innovations have scaled as rapidly (and as unevenly) as virtual cards across B2B.
“Virtual cards are growing tremendously in the market, with estimates that range from anywhere between 15% to 25%. But while they’re a great tool for buyers, they can be a resource drain for suppliers,” Abhishek, global head of B2B Acceptance at Visa...