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Anthropic received a $2.5 billion, five-year revolving credit facility earlier this week to pay for upfront costs as demand for artificial intelligence ratchets up.
The credit facility adds to Anthropic’s momentum following its March funding round, which valued the company at $61.5 billion, CNBC reported Friday (May 16). The funding will support the company’s rapid expansion and efforts to...
Walmart is gearing up for a shift in consumer behavior as artificial intelligence begins to take a more active role in how people shop.
The retail giant is exploring how to make its products not only attractive to human buyers but also to autonomous AI agents that may soon handle shopping tasks on behalf of consumers, The Wall Street Journal (WSJ) reported Thursday (May 15).
These AI-powered bots...
Apple and Epic Games are reportedly sparring over Apple’s denial of Epic Games’ resubmission to place its game Fortnite in the App Store.
Epic Games said Friday that its resubmission was denied by Apple, while Apple responded that it did not remove the game from alternative distribution marketplaces, CNBC reported Friday (May 16).
The Fortnite account said in a post on X: “Apple has blocked our...
Canadian FinTech company Nuvei has joined the European Payments Initiative (EPI) and plans to enable eCommerce businesses to accept EPI’s digital wallet, Wero, in their online checkouts.
Nuvei will begin pilot programs this month and expects to make this capability generally available for merchants in September, the company said in a Thursday (May 15) press release.
“By integrating Wero into our...
In a fiercely competitive food industry dominated by multinational conglomerates, Newman’s Own is turning to generative artificial intelligence (AI) to level the playing field.
“We’re in the ultra-competitive CPG (consumer packaged goods) food space — and we’re a small company,” said David Best, CEO of Newman’s Own, in a video about its AI transformation. “We have 50 people, and we don’t have the...
Consumer gloom is not quite at historic levels — but it’s awfully close.
Households are worried about inflation, about their own pressured finances as incomes and purchasing power weakens. They’re worried about tariffs.
The University of Michigan’s preliminary May reading on consumer sentiment, released Friday (May 16) came in at 50.2, down from 52.2 in April, and now is at the second lowest...
Salesforce plans to acquire Convergence.ai to accelerate the development of its next-generation AI agents.
The company signed a definitive agreement for the acquisition and expects Convergence’s team and technology to play a “central role” in advancing its AI agent platform, Agentforce, according to a Thursday (May 15) press release.
The acquisition is expected to close in the second quarter of...
In a financial environment defined by unpredictability, mid-sized companies are feeling the pinch. Supply chain disruptions, shifting interest rates, inflationary pressure and global geopolitical instability have combined to transform liquidity management from a back-office function into a strategic imperative.
For corporate treasurers at mid-sized firms, the mission is clear: maintain cash...
The Office of the Comptroller of the Currency (OCC) has announced enforcement actions against two banks and three individuals who are or were affiliated with banks.
“The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified,” the regulator said in a Friday (May 16) press...
Coinbase disclosed that the cybersecurity incident it reported Thursday (May 15) could cost it as much as $400 million.
The company’s investigation into the incident is still underway, so the full impact of the cyberattack is not yet known, Coinbase said in a filing with the Securities and Exchange Commission (SEC).
“Based on the information available to the Company on the date hereof and based...