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Uber says it has made an investment exceeding $1 billion in benefits for its California drivers and couriers since 2020.
This investment is aimed at enhancing the working conditions and overall well-being of its vast network of drivers and couriers across the state, the company said in a Thursday (April 26) blog post.
The initiative began after California’s passage of Proposition 22 in 2020,...
Meta announced a $35 billion investment in artificial intelligence (AI) for this year, signaling an aggressive push in the escalating tech arms race.
This colossal investment raises pivotal questions about the future of AI development and its financial viability. Industry experts are now debating the scope and impact of this funding, probing into when these investments will yield a return on...
Elon Musk’s artificial intelligence (AI) startup xAI is reportedly close to raising $6 billion from investors.
The funding round would value xAI at $18 billion, Bloomberg reported Friday (April 26).
Silicon Valley venture capital (VC) firm Sequoia Capital has committed to investing in the startup, according to the Financial Times (FT), which reported the same figures as Bloomberg.
Musk has also...
Artificial intelligence (AI) holds the promise to transform all manner of industries — helping banks, in particular, improve their anti-money laundering (AML) efforts.
But as Chris Caruana, VP of Strategy at Hawk:AI, Ramon Ramirez, director of AML/KYC Operations at Western Alliance Bancorporation, and Miguel Navarro, head of Client Identity Verification and Authentication at KeyBank, told PYMNTS...
With Small Business Week coming up April 29, it’s a good time to focus on the restaurant sector, because according to industry data, 90% of restaurants meet the criteria.
In fact, 70% of them are single-unit operations. And when you’re dealing with the changing dining and payment preferences of the consumer, restaurants need to get as much data and promotional help as they can access.
Part of...
Companies can leverage customer data and use technology to prosper in uncertain times, i2c Global Head of Operations John Bresnahan writes in the new PYMNTS eBook, “The Implications of Uncertainty.”
The direction of the United States and world economies is uncertain and geopolitical risks seem to be growing. What are financial institutions to do when facing such uncertainty? There are...
Lenders in key global markets offer an ever-increasing range of consumer credit products. Still, consumers express dissatisfaction with the current options. Just 50% of consumers across six major economies are highly satisfied, with rates in Australia and Japan particularly low. While younger individuals tend to be more satisfied than their older peers, just 60% of millennials, the age group...
For the companies populating the FinTech IPO Index, earnings have been part of the continuing avalanche of headlines this past week.
Earnings Begin to Trickle In
Oportun shares soared 32.5%.
The company this week announced preliminary results that showed expected revenue ranges of $248 million to $250 million in the first quarter, down from $295.5 million last year and an annualized charge-off...
Capital One’s first quarter results showed consumers continue to spend on their cards — and management touted the benefits of the proposed $35 billion buyout of Discover Financial Services.
Purchase volume on its cards was up 6% year over year to $146.6 billion, but was 7% below the fourth quarter of 2023.
The company’s supplementals showed that the card segment’s net charge-off rate of 5.9% is...
Snapchat parent company Snap believes that augmented reality (AR) will be “one of the most meaningful advancements in computing that the world has ever seen.”
Evan Spiegel, CEO of Snap, said this Thursday (April 25) during the company’s quarterly earnings call. He said that Snap considers AR to be one of the company’s three strategic priorities, alongside revenue growth and community growth.
“We...