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Amazon has announced a multibillion-dollar investment in expanding artificial intelligence (AI) and supercomputing for government agencies.
The project, announced Monday (Nov. 24) will see Amazon Web Services (AWS) invest at least $50 billion as it works to build and deploy what it said is the first-ever artificial intelligence (AI) and high-performance computing (HPC) purpose-built...
Speaking at Emerson Collective’s Demo Day in San Francisco on Saturday (Nov. 22), OpenAI CEO Sam Altman and famed former Apple designer Jony Ive said OpenAI’s first device will be ready in “less than” two years.
Ive said the team already built a working prototype and plans to bring the device to market in “even less than” two years. He said the design centers on creating something...
OpenAI could need $207 billion in new financing by 2030 to gain the compute capacity it is seeking, Seeking Alpha reported Monday (Nov. 24), citing analysts from HSBC Global Investment Research.
The artificial intelligence startup forecast that its compute costs will total $1.4 trillion over the next eight years, the analysts said, according to the report.
“We update our OpenAI...
Kohl’s interim CEO Michael Bender is now officially the retailer’s CEO.
The company announced the change Monday (Nov. 24), nearly seven months after picking Bender to fill-in after the company fired former CEO Ashley Buchanan.
Kohl’s said it worked with a third-party firm and conducted a “comprehensive search” before making its choice, picking Bender as its third CEO in as many years...
Macroeconomic pressures and a lack of progress in regulation are among the factors that led to the recent decline in the price of Bitcoin, CoinDesk reported Monday (Nov. 24), citing analysts from Deutsche Bank.
Bitcoin ended last week with a Nov. 21 price of about $80,000, which was about 35% lower than the peak it reached in early October, according to the report. At the time CoinBase...
Corporate payments company Corpay has introduced a solution for U.S. immigration law firms.
The new USCIS Navigator tool, announced Monday (Nov. 24) is aimed at providing secure processing for payments to the U.S. Citizenship and Immigration Services (USCIS), following a recent ban on check payments for immigration filings.
“We created USCIS Navigator in direct response to feedback...
South Korean cryptocurrency exchange Upbit is reportedly considering launching an initial public offering on Nasdaq once it completes a merger with South Korean internet firm Naver.
CoinDesk reported these plans Monday (Nov. 24), citing multiple media reports.
Upbit did not immediately reply to PYMNTS’ request for comment.
According to the CoinDesk report, the merger of Upbit’s parent...
The Federal Deposit Insurance Corp.’s latest board agenda reads like a preview of the next major regulatory issues looming for big banks, and by extension, their FinTech partners.
The FDIC will consider a notice of proposed rulemaking Nov. 25 titled “Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework.”
The meeting marks a formal step toward reshaping the...
Worldpay has debuted a tool aimed to promote AI-powered payment integration and agentic commerce.
Worldpay MCP, announced Monday (Nov. 24), is available now via the company’s Developer Hub and Github, letting developers and merchants create artificial intelligence agents and direct payment integrations with Worldpay’s API.
The MCP is an open standard introduced late last year by...
For decades, the mechanics of business payments barely changed. Wires, ACH batches and card networks moved money from point A to point B with only modest variations in speed and supporting information.
The real differentiator across this historical ecosystem was financial strategy: how companies managed liquidity, planned capital allocation and navigated working capital constraints....