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☆ ServiceNow to invest $1.5 billion in the UK to localize AI data processing
▼ + stars: | 2024-10-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Beyond local business expansion, ServiceNow also said it would invest the cash into localizing the processing of data for its large language models (LLMs), AI models that rely on vast quantities of training data to be able to understand and generate text like a human. The firm said that it would bring Nvidia GPUs (graphics processing units) to its data centers based in London and the Welsh city of Newport to support processing of data on its LLMs within the U.K. This will help support "domain specific LLMs" for U.K. clients and governments, ServiceNow said. ServiceNow isn't the only tech giant betting big on the U.K. as a global destination for AI innovation. The AI center forms part of a $4 billion investment Salesforce committed to making in the U.K. over five years in June last year.

Persons: Bill McDermott, ServiceNow, Keir Starmer, hasn't, Salesforce Organizations: Nvidia, International Investment Summit Locations: Davos, Switzerland, Britain, London, Welsh, Newport, Europe, United Kingdom

☆ Salesforce's UK chief urges government not to regulate all AI companies in the same way
▼ + stars: | 2024-10-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

LONDON — The UK chief executive of Salesforce wants the Labor government to regulate artificial intelligence — but says it's important that policymakers don't tar all technology companies developing AI systems with the same brush. Bahrololoumi noted that there's a difference between companies developing consumer-facing AI tools — like OpenAI — and firms like Salesforce making enterprise AI systems. She said consumer-facing AI systems, such as ChatGPT , face fewer restrictions than enterprise-grade products, which have to meet higher privacy standards and comply with corporate guidelines. A spokesperson for the UK's Department of Science, Innovation and Technology (DSIT) said that planned AI rules would be "highly targeted to the handful of companies developing the most powerful AI models," rather than applying "blanket rules on the use of AI. " That indicates that the rules might not apply to companies like Salesforce, which don't make their own foundational models like OpenAI.

Persons: Zahra Bahrololoumi, Salesforce, Bahrololoumi Organizations: LONDON, Labor, CNBC, Ireland, UK's Department of Science, Innovation, Technology Locations: Ireland, Salesforce, San Francisco , California, London, American

☆ Tesla shares drop 5.5% in premarket after Cybercab robotaxi reveal fails to impress
▼ + stars: | 2024-10-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Shares of electric vehicle maker Tesla sank after the company's long-awaited robotaxi event — where CEO Elon Musk unveiled the firm's Cybercab self-driving concept car — failed to impress investors. Musk revealed Tesla's Cybercab concept vehicle — a low, silver two-seater, has no steering wheels or pedals — on Thursday night. The Tesla boss said the company hopes to be producing the Cybercab before 2027, but offered no details on where the cars will be manufactured. He said consumers would be able to buy a Tesla Cybercab for a price tag under $30,000. FSD, which stands for Full Self-Driving, is Tesla's premium driver assistance system, available today in a "supervised" version for Tesla electric vehicles.

Persons: Tesla, Elon Musk, Musk, CNBC's Lora Kolodny, Michael Bloom Locations: Texas, California

☆ Ripple launches crypto storage services for banks in bid to diversify
▼ + stars: | 2024-10-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

U.S. blockchain startup Ripple made a major foray into crypto custody on Thursday, launching new services aimed at helping banks and financial technology firms to store digital assets on behalf of clients. The crypto custody market is forecast to reach at least $16 trillion by 2030, according to the Boston Consulting Group. Ripple said that custody is one of the fastest-growing areas for the startup, with Ripple Custody posting customer growth of over 250% year-over-year growth this year and operating in seven countries. Last year, Ripple acquired Metaco, a firm that helps other entities store and manage their crypto, in a bid to boost its nascent crypto custody business. The company this year also acquired Standard Custody & Trust Company, another crypto custody firm, to further bolster its efforts.

Persons: Ripple, Aaron Slettehaugh Organizations: CNBC, Boston Consulting, HSBC, BBVA, Societe Generale, DBS, XRP, Trust Company, U.S . Securities, Exchange Commission, SEC Locations: San Francisco, Swiss

ISRAEL LEBANON Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN YAROUN Israeli vehicles in a bulldozed area LEBANON ISRAEL Flattened buildings Vehicle tracks Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area ISRAEL Israeli armored vehicles crossed the border LEBANON Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN ISRAEL LEBANON Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN Source: Satellite image by Planet Labs, Oct. 5Tank tracks leading from Israel across the border to the Lebanese village of Yaroun are visible in satellite images taken on Saturday by Planet Labs, a commercial satellite provider. So are newly constructed banks of earth where the Israeli military set up positions for tanks and other military vehicles. Over the past week, the Israeli military has flattened large parts of two border villages: Maroun al-Ras and Yaroun, seen in the video above that was filmed by the Israeli military and verified by The Times. Aug. 28, 2024 Rubble YAROUN Destroyed buildings Rubble YAROUN Destroyed buildings Oct. 5, 2024 YAROUN Area flattened YAROUN Area flattened Oct. 5, 2024 Newly destroyed buildings Appears burned YAROUN Appears burned Newly destroyed buildings Appears burned YAROUN Appears burned Even before the ground invasion, months of rocket strikes had damaged Yaroun, this satellite imagery from the summer shows. Aug. 28 MAROUN AL-RAS Destroyed building MAROUN AL-RAS Destroyed building Oct. 5 Israeli military vehicles Vehicle tracks Israeli military vehicles MAROUN AL-RAS Vehicle tracks Vehicle tracks Israeli military vehicles Vehicle tracks MAROUN AL-RAS Oct. 5 Newly destroyed buildings MAROUN AL-RAS Destroyed mosque Flattened area Newly destroyed buildings Destroyed mosque MAROUN AL-RAS Flattened area Maroun al-Ras has seen fighting before: It was the scene of a major battle during Israel’s 2006 invasion of Lebanon.

Persons: Israel, Israel Maroun, Ras, Ras Naqoura, Maroun, Ali Qassem Tafeh, Hassan Awada, MAROUN, Balakrishnan Rajagopal, ”, ” Mr, Rajagopal, Tafeh, Hussein Jaafar, Yaroun's, “ Organizations: Hezbollah, The New York Times, Planet Labs, The Times, United Nations Interim Force, New York Times, Times, United Nations, Hague Convention, National News Agency Locations: Yaroun, Lebanon, ISRAEL LEBANON Israeli, LEBANON ISRAEL, Israeli, LEBANON Israeli, Israel, Lebanese, Lebanon Israel Nabatieh, Litani, Deir Aames, Area, Gaza, Maroun, Jerusalem, Geneva

☆ HSBC exec says there's a lot of AI 'success theater' happening in finance
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Jaap Arriens | NurPhoto via Getty ImagesLONDON — Increasingly many financial services firms are touting the benefits of artificial intelligence when it comes to boosting productivity and overall operational efficiency. Despite bold statements, a lot of companies are failing to produce tangible results, according to Edward J Achtner, the head of generative AI for U.K. banking giant HSBC . One example he gave was a partnership that HSBC has in place with internet search titan Google on the use of AI technology anti-money laundering and fraud mitigation. Boteju stressed that Lloyds is "proceeding with caution" when it comes to exposing the bank's customers to generative AI tools. Generative AI, on the other hand, is a more nascent technology, according to the Lloyds exec.

Persons: Jaap Arriens, Edward J Achtner, Achtner, Ranil Boteju —, Nathalie Oestmann, ChatGPT, Klarna, headcount, Sebastian Siemiatkowski, Siemiatkowski, Oestmann, Boteju, Banks, we've, Bahadir Yilmaz, Yilmaz, It's, Johan Tjarnberg Organizations: NurPhoto, Getty, HSBC, Leadership, Lloyds Banking Group, NV Ltd, Royal Albert Hall, Microsoft, Google, BBC, NV, CNBC, Lloyds, ING Locations: London

☆ Solana cryptocurrency could rally 400% if Trump wins election, Standard Chartered says
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The solana cryptocurrency could outperform ether and bitcoin in a big way if former President Donald Trump wins the U.S. election, according to Standard Chartered. In a new research note, the bank's head of digital assets, Geoffrey Kendrick, outlined his expectations for bitcoin, ether and solana depending on whether Trump or his Democratic opponent Vice President Kamala Harris wins the presidential election. "Similar arguments can be made for the relative outlook for ETH versus BTC under a Trump versus Harris outcome in the US," Kendrick added. If Harris takes the White House, however, Kendrick said he expects bitcoin to outperform ether, and ether to outperform solana in 2025. Solana valuation Despite his bullish call on solana under a Trump presidency, Kendrick noted that its current valuation looks "richly priced" versus ether on all backward-looking measures.

Persons: solana, Donald Trump, Geoffrey Kendrick, Trump, Kamala Harris, Solana, Harris, Kendrick Organizations: Chartered, Democratic, Trump, solana, solana ETF, ETH, BTC Locations: solana, Solana

The company previously launched an "Uber Green," service which has historically included a mix of battery electric vehicles, and hybrid electric models. Now, Uber can offer battery electric vehicles as the sole "green" option in more than 40 cities globally, executives said at Uber's annual Go Get Zero sustainability conference in London on Tuesday. "We need more affordable EVs, we need stronger EV mandates, we need incentives for people who are driving the most. For drivers, Uber said it is rolling out an "EV Mentor" program, which connects drivers for any questions about electric mobility. The deal will give Uber drivers the ability to access Octopus' "Intelligent Go" tariff to help them with EV charging costs.

Persons: Dara Khosrowshahi, Uber, Khosrowshahi, OpenAI's ChatGPT, Suvrat Dhanorkar, Gordon Burtch, it's, BYD, Rebecca Tinucci, Tinucci Organizations: Transportation, Clean Transportation, Transportation Science, Los Angeles, Organization for Economic Co, Development, Octopus Energy, EV, Uber Locations: London, New York City, Los, Paris, France

Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda. Saudi Arabia's Public Investment Fund (PIF) trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake. The PIF reduced its stakehold in the Japanese video game giant to 7.54% from 8.58% previously, according to a Japanese regulatory filing. Saudi Crown Prince Mohammed bin Salman is also the chairman of Savvy Games Group. Nintendo has been grappling with a slowing console gaming market and an aging product by way of its flagship Switch hybrid console — its best-selling gear ever, which sold 143.4 million units worldwide.

Persons: Mario, Zelda, Prince Faisal bin Bandar, Saud —, —, Prince Faisal, Prince Mohammed bin Salman, it's Organizations: Nintendo, Saudi Arabia's Public Investment Fund, Nintendo Co, Games, Tokyo, Kyodo, Games Group, Microsoft, Sony Locations: Sultan, Saudi Arabia, Saudi

☆ Foxconn chairman says AI investment boom 'still has some time to go' as language models evolve
▼ + stars: | 2024-10-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The boom in corporate investment into artificial intelligence infrastructure still has some way to go as large language models are continuing to evolve, according to the CEO of Foxconn , a key supplier to Apple . This type of AI is referred to in the industry as "AGI," or Artificial General Intelligence. Liu said that progress toward increasingly intelligent AI can only be a good thing for the AI server industry, which has been a key boon to Foxconn's growth this year. "I think for the AI server industry, I think we still have some time to grow," Liu added. "With the AGI capability growing, the age [of] AI devices will be another industry we should watch carefully."

Persons: Emily Tan, Foxconn Young Liu, Liu, OpenAI, Sam Altman, he's Organizations: Apple, Intelligence, CNBC, Microsoft

☆ Tensions rise between banks and tech companies over online fraud liability in the UK
▼ + stars: | 2024-10-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Meta is facing calls from U.K. banks and payment firms like Revolut to financially compensate people who fall for scams on their services. Proposals to make tech firms liableTensions have been running high between banks and tech companies for some time. A key ask has been for the tech firms to share more detailed intelligence on how criminals are abusing their platforms. Social media firms not doing enough to combat and remove attempts to defraud internet users was another complaint from regulatory authorities at the event. Jones added that it was tough to "break the inertia" at tech companies to "really get them to get after it."

Persons: Jaap Arriens, it's, Meta, Woody Malouf, Matt Akroyd, Kate Fitzgerald, Rob Jones, Jones Organizations: Nurphoto, Getty, Systems, PSR, Payments Association, Facebook, NatWest, Metro Bank, Financial Times, Labour Party, CNBC, Stewarts, Social, Economic Crime, U.K, National Crime Agency, Tech, Meta, Intelligence Locations: London

☆ Slump for tech stocks could open the door for tactical trades in fourth quarter, investors say
▼ + stars: | 2024-10-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The tech trade lost some of its steam over the summer, and that could create opportunities for tactical trading in the fourth quarter, several investors told CNBC. The Nasdaq Composite rose 2.6% during the third quarter, lagging behind both the broader S & P 500 's gain of 5.5% and the small Russell 2000's jump of 8.9%. Still, many investors are cautious of abandoning the tech trade completely even after a few bumpy months. Even after the recent slump, those stocks still account for about 31% of the S & P 500, and even more in many funds focused on tech or growth. RSP 6M mountain This equal weight version of the S & P 500 outperformed the regular S & P 500, the Nasdaq Composite and the Dow Jones Industrial Average in the third quarter.

Persons: Russell, James Ragan, DA Davidson, We're, Frank Tedesco, Ragan, Jason Browne, Alexis, We've, we've, Browne, LEXI Organizations: CNBC, Nasdaq, Nvidia, Microsoft, DA, Astoria, RSP, Dow Jones, Quality, Alexis Investment Partners, Big Tech Locations: Astoria

☆ Ubisoft shares skyrocket 30% after report Tencent, Guillemot family considering buyout
▼ + stars: | 2024-10-04 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

The Ubisoft logo displayed during the Brand Licensing Europe at ExCel London on September 24, 2024. Shares of French video game publisher Ubisoft surged over 30% on Friday after a media report that Tencent and the firm's founding Guillemot family are considering a potential buyout of the company. Bloomberg News reported Friday that Tencent and the Guillemot family, which are both minority shareholders of Ubisoft, are considering a buyout among other options after the company lost more than half its market value this year. Shares of Ubisoft were last trading around 30% as of 3:20 p.m. London time. Please refresh for updates.

Organizations: ExCel London, Ubisoft, Bloomberg Locations: London

☆ Digital bank Revolut slams Meta over approach to scams, says tech giant should compensate victims
▼ + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

British financial technology firm Revolut on Thursday criticized Facebook parent company Meta over its approach to tackling fraud, saying the U.S. tech giant should directly compensate people who fall victim to scams via its social media platforms. In a statement, Woody Malouf, Revolut's head of financial crime, said that Meta's plans to tackle financial fraud on its platforms amount to "baby steps, when what the industry really needs is giant leaps forward." "These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. Britain's Payments System Regulator had previously recommended a £415,000 maximum compensation amount for fraud victims, but backed down following backlash from banks and payment firms. The fintech firm published a report Thursday alleging that 62% of user-reported fraud on its online banking platform originated from Meta, down from 64% last year.

Persons: Revolut, Woody Malouf, Malouf, Meta, Revolut's Malouf, WhatsApp Organizations: Facebook, Meta, NatWest, Metro Bank, CNBC, Regulator, Consumer Security Locations: U.S, Meta

☆ Klarna CEO says a European tech brain drain is ‘number one risk’ for company ahead of IPO
▼ + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty ImagesA European technology talent brain drain is the biggest risk factor facing Klarna as the Swedish payments company gets closer to its upcoming initial public offering, according to CEO Sebastian Siemiatkowski. "When we looked at the risks of the IPO, which is a number one risk in my opinion? He was referring to company risk factors, which are a common element of IPO prospectus filings. Still, when it does go public, Klarna will be among the first major fintech names to successfully debut on a stock exchange in several years.

Persons: Sebastian Siemiatkowski, Chris Ratcliffe, Siemiatkowski, —, Klarna, Compensia, Klarna's, CNBC's, Goldman Sachs, Jack Dorsey's, he's, Siemiakowski, they're Organizations: Bloomberg, Getty, CNBC, Apple, Meta, PNL, Ventures, Google, U.S Locations: London, Europe, U.S, Sweden, Germany, Italy, Britain, Afterpay, American

☆ This audio engineer is a huge Apple fan. But he thinks you shouldn't buy the AirPods Max.
▼ + stars: | 2024-10-02 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Audio engineer Theo Browne recently criticized Apple's AirPods Max for their sound quality and price. Browne, a fan of the AirPods Pro, finds the mid-range sounds of the AirPods Max disappointing. AdvertisementYou don't have to look far to see Apple's AirPods Max headphones in the wild, whether it's on your morning commute or worn by someone on TikTok. In a tweet that has now received over 800,000 views, Browne even warned people: "Do NOT buy AirPods Max." Like the other AirPods, they said the AirPods Max offers an outstanding experience with active noise cancellation, spatial audio, and transparency modes.

Persons: Theo Browne, Apple's AirPods Max, Browne, Max, —, Metronomy, weirdly, Douglas Stephens, Stephens, there's, Smart, Max Smart, they'll, Antonio Villas Organizations: Service, Apple, Ping Labs, Sony, Bose, Headphones.com, Bluetooth, Philips, Sony WH Locations: retails

☆ Goldman-backed Starling Bank hit with $38.5 million fine for financial crime prevention failures
▼ + stars: | 2024-10-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

U.K. financial regulators hit British digital lender Starling Bank with a £29 million ($38.5 million) fine over failings related to its financial crime prevention systems. In a statement on Wednesday, London's Financial Conduct Authority said it had fined Starling "for financial crime failings related to its financial sanctions screening." Starling also repeatedly breached a requirement not to open accounts for high-risk customers, the FCA said. Since then, Starling has reported multiple potential breaches of financial sanctions to relevant authorities, according to the British regulator. The FCA said that Starling has already established programs to remediate the breaches it identified and to enhance its wider financial crime control framework.

Persons: Starling, David Sproul Organizations: Starling, Authority, FCA, Starling Bank Locations: British

☆ Facebook owner Meta forms data-sharing pact with UK banks to counter scams
▼ + stars: | 2024-10-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Facebook parent company Meta on Wednesday said that it's working with two leading banks in the U.K. on an information-sharing arrangement to help protect consumers from fraud. Meta said that the tech has already been tested with multiple lenders in the U.K. "We will only beat these criminals if we work together and share relevant information related to scams. Meta has long faced calls from banks in the U.K. to do more to stop scammers from running rampant on its platforms, which include Facebook, Instagram, and WhatsApp. Meta already has policies in place banning promotion of financial fraud, such as loan scams and schemes promising high rates of returns.

Persons: Meta, scammers, Nathaniel Gleicher, Gleicher, Goldman Sachs Organizations: Facebook, Meta, Intelligence, Exchange, NatWest, Metro Bank . NatWest, Metro Bank, scammers Locations: British

☆ Mastercard to buy Swedish startup that makes it easier to manage and cancel subscription plans
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

BARCELONA, SPAIN - MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)Mastercard said Tuesday that it's agreed to acquire Minna Technologies, a software firm that makes it easier for consumers to manage their subscriptions. Minna Technologies, which is based in Gothenburg, Sweden, develops technology that helps consumers manage subscriptions within their banking apps and websites, regardless of which payment method they used for their subscriptions. The company said it works with some of the world's largest financial institutions in the world today. Consumers today often have tons of subscriptions to manage across multiple services such as Netflix, Amazon and Disney Plus.

Persons: Joan Cros Garcia, Corbis, it's, Minna Organizations: MasterCard, Mobile, Congress, Getty Images, Mastercard, Minna Technologies, Visa, Netflix, Disney Plus Locations: BARCELONA, SPAIN, Barcelona, Spain, Gothenburg, Sweden

☆ London-based Robinhood rival Freetrade buys UK arm of Australian investing platform Stake
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

London-based online trading platform Freetrade told CNBC Tuesday that it's agreed to buy the U.K. customer book of Stake, an Australian investing app. Freetrade and Stake declined to disclose financial information of the deal, including the value of Stake's U.K. customer book. The company, which also operates in New Zealand, launched its services in the U.K. in 2020. Following the deal, customers of Stake U.K. will be contacted with details about how to move their money and other assets over to Freetrade in "the coming weeks," the companies said. Customers will still be able to use their Stake account until assets and cash are transferred to Freetrade in November.

Persons: it's, Matt Leibowitz, Dan Silver, Jon Abitz Organizations: CNBC, Stake Locations: Freetrade, Sydney, Australia, New Zealand

☆ With shares at 10-year lows, Assassin's Creed maker Ubisoft faces questions over its future
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

In this article UBI-FR Follow your favorite stocks CREATE FREE ACCOUNTUbisoft postponed the release of the next title in its popular "Assassin's Creed" game franchise — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. The company, which produces the "Assassin's Creed" franchise, said in updated guidance last week that it has postponed the release of the next title in the popular game series — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. "The revised targets are mainly a reflection of decisions taken for Assassin's Creed Shadows and the softer than expected launch for Star Wars Outlaws," Ubisoft said. Ubisoft said that its learnings from the Star Wars Outlaws release pushed it to give more time to polish Assassin's Creed Shadows. Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023.

Persons: John Keeble, —, Yves Guillemot, Robyn Beck, AJ, Tencent, George Brown, Daniel Kerven, David W Peat, Ubisoft's, Michael Pachter, Alicia Reese, Kade, James Lockyer, Peel Hunt, Covid, Lockyer Organizations: Ubisoft, Getty, Star Wars, Star, Valve, Games, AFP, AJ Investments, CNBC, Deutsche Bank, Deutsche, JPMorgan, Wedbush Securities, company's Star Wars, Outlaws Locations: Los Angeles , California, France, Montreuil , Paris

☆ Robinhood launches crypto transfers in Europe as it pushes overseas expansion
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Retail investing platform Robinhood on Tuesday announced that it's offering customers in Europe the ability to transfer cryptocurrencies in and out of its app, broadening its product capabilities in the region as it presses ahead with international expansion. In December last year, Robinhood launched its crypto trading service, Robinhood Crypto, in the EU for the first time. Once MiCA is fully in place, Kerbrat said, every EU country will fall under the same unified regime. "In terms of total addressable market, [the EU] is as big as the U.S.," he told CNBC, adding, "it's definitely an interesting market for us." Robinhood is rolling out new features in the EU at a time when U.S. crypto firms are sparring with regulators at home.

Persons: Robinhood, Robinhood Crypto, Johann Kerbrat, Kerbrat Organizations: European Union, CNBC, EU, Securities and Exchange Commission Locations: Europe, ethereum, solana, EU, Crypto, U.S, Robinhood

☆ Cybersecurity firm Proofpoint considers pre-IPO funding as it plots a return to public markets
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sumit Dhawan, CEO of Proofpoint, took the reins as head of the cybersecurity company in 2022, a year after it was acquired by Thoma Bravo for $12.3 billion. He's been pushing the firm to consider strategic opportunities such as mergers and acquisitions of smaller cybersecurity players to boost the company's market expansion and stimulate industry consolidation. LONDON — Privately-held cybersecurity firm Proofpoint is exploring tapping external investors for pre-IPO financing and the consideration of mergers and acquisitions of smaller cyber companies as it seeks a return to public markets in 2026, CEO Sumit Dhawan told CNBC. Noting that there are curreFntly too many players in the cybersecurity market, Dhawan said that Proofpoint is currently looking for acquisition targets that offer a "strategic fit" for the company — for the right price. "There are at this point in time, 2,000 or so non-profitable cybersecurity companies that are venture-backed, so clearly they'll either get consolidated or potentially not exist.

Persons: Sumit Dhawan, Thoma Bravo, Dhawan, Thoma, Dhawan's, Proofpoint Organizations: Privately, CNBC, Thoma Bravo

☆ Google to invest $1 billion in Thailand to build data center and accelerate AI growth
▼ + stars: | 2024-09-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Google announced Monday it is investing 36 billion Thai baht, or $1 billion, into Thailand for the creation of a new data center and expansion of the country's cloud infrastructure. The investment would see the company create its first data center in Thailand, Google said in a post on its Thailand blog Monday. Google said its debut Thai data center will be located in Chonburi, an eastern province of Thailand. The facility will "help support the growing demand for Google Cloud and AI innovations, as well as popular Google services such as Google Search, Google Maps and Google Workspace" in Thailand, Jackie Wang, Google's Thailand country lead, said in the blog post, according to an English translation taken via Google Translate. But the firm has increasingly come under threat from the surge of generative AI tools such as OpenAI's ChatGPT.

Persons: Jackie Wang, Wang, Thais Organizations: Google, Microsoft, Temasek, Bain & Company, Conomy SEA, Commission Locations: Zurich, Switzerland, Thailand, Asia, Chonburi, Southeast Asia

☆ Klarna partners with fellow fintech Adyen to bring buy now, pay later into physical stores
▼ + stars: | 2024-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Jakub Porzycki | NurPhoto | Getty ImagesSwedish firm Klarna is partnering up with Dutch payments fintech Adyen to bring its popular buy now, pay later service into physical retail stores. Klarna will be included as an option across more than 450,000 Adyen payment terminals in brick-and-mortar locations as a result of the deal, according to the companies. Klarna's buy now, pay later, or BNPL, service allows users to spread the cost of their purchases over a period of interest-free installments. Earlier this year, Klarna sold Klarna Checkout, the company's online checkout solution for merchants. The recently elected U.K. Labour government is expected to set out plans for buy now, pay later regulation soon.

Persons: Jakub Porzycki, Klarna, David Sykes, Alexa von Bismarck, Adyen, Sebastian Siemiatkowski, BNPL, Tulip Siddiq Organizations: NurPhoto, Getty, Klarna, Adyen, EMEA, Alexa, CNBC, Labour, Conservative Locations: Amsterdam, Europe, North America, Australia, Swedish

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