FinTech News
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OpenAI Launches ChatGPT-4.5: A Breakthrough in AI ConversationOpenAI has introduced ChatGPT-4.5, a powerful new AI model designed to enhance conversational intelligence, improve factual accuracy, and reduce hallucinations. The model is now available for ChatGPT Pro users, with wider access rolling out soon. OpenAI touts it as its most emotionally intelligent AI yet, making it ideal for writing, programming, and problem-solving. However, its high computational demands make it costly to operate.
Friday, February 28th 2025 08:42PM -
Stripe Valued at $91.5 Billion in Tender Offer, Holds Off on IPO PlansStripe has reached a $91.5 billion valuation through a tender offer for employees and investors, bringing it close to its 2021 peak of $95 billion. Despite financial strength, the company has no immediate IPO plans, citing long-term growth priorities. Stripe credits AI-driven innovation and stablecoin adoption for its rising valuation, with $1.4 trillion in total payments processed in 2024.
Thursday, February 27th 2025 08:19PM -
Employees Who Became Founders: Breaking Free from Tech Giants to Forge New PathsThis article explores how former employees of tech giants like Google, Facebook, and OpenAI have transitioned from structured corporate roles to launch their own successful companies. We highlight the stories of Sridhar Ramaswamy and Mira Murati, examine why many employees leave despite prestigious positions, and analyze what their departures mean for the tech industry.
Tuesday, February 25th 2025 06:11PM -
AI’s Energy Crisis: Tech Giants Turn to Hydrogen and Nuclear Power for Sustainable SolutionsAs the demand for AI data centers surges, tech companies are exploring hydrogen, nuclear, and geothermal energy solutions to combat rising emissions and meet sustainability goals.
Monday, February 24th 2025 08:35PM -
Apple’s $500 Billion U.S. Investment Signals a New Era for American Tech and JobsApple plans to invest $500 billion in the U.S. over the next four years, expanding manufacturing, creating 20,000 jobs, and boosting AI and silicon engineering. The move solidifies Apple’s commitment to American innovation and tech leadership.
Monday, February 24th 2025 07:51PM -
The Fall of Banks? How Fintechs Are Reshaping Finance - FTW Sunday EditorialExplore the evolving battle between traditional banks and challenger banks. Discover how fintech innovation, government reliance, and digital disruption are reshaping the future of global finance.
Sunday, February 23rd 2025 01:00AM -
Hackers Steal Record $1.4 Billion from Bybit in Largest-Ever Crypto HeistIn a historic security breach, hackers have stolen $1.4 billion in Ethereum from the Bybit cryptocurrency exchange. The attack, which targeted an offline cold wallet, marks the largest crypto heist to date. Bybit is investigating the incident and has pledged to cover any losses using its treasury if recovery efforts fail.
Sunday, February 23rd 2025 01:00AM -
OpenAI Shifts Focus Toward SoftBank, Reducing Microsoft Reliance: ReportOpenAI is reportedly increasing its financial ties with SoftBank, reducing its reliance on Microsoft for computing power. The shift comes as SoftBank eyes a significant investment in OpenAI’s ambitious Stargate Project, a major AI infrastructure initiative in the U.S.
Saturday, February 22nd 2025 01:00AM -
Grok-3’s Self-Correction Mechanisms Set a New Standard for AI Fact-CheckingGrok-3, the AI developed under Elon Musk’s X, has demonstrated impressive fact-checking capabilities, powered by advanced self-correction mechanisms. Despite concerns over its data collection practices, Grok-3’s ability to flag misinformation—even from Musk himself—shows its potential to transform content moderation.
Friday, February 21st 2025 01:00AM -
OpenAI Launches SWE-Lancer: A New AI Benchmark for Real-World Freelance CodingOpenAI introduces SWE-Lancer, an AI benchmark testing models on 1,400 real freelance coding tasks from Upwork, exposing their limitations in software development. Open-source tools provide insights into AI's economic impact.
Thursday, February 20th 2025 01:00AM -
Offa Broadens Access to Sharia-Compliant Buy-to-Let FinanceIslamic fintech firm Offa introduces inclusive property financing options for first-time buyers and young investors.
Thursday, February 20th 2025 01:00AM -
Data capture in banking: Navigating the digital revolutionAI-powered data capture is revolutionizing banking, from mobile check deposits to instant customer onboarding. As automation reshapes financial services, banks must navigate the critical balance of innovation and security.
Wednesday, February 19th 2025 01:00AM -
![[VIDEO] Grok-3 Launch: xAI’s Breakthrough in AI Development and the Challenges Ahead](https://fintechweekly.s3.amazonaws.com/article/414/Grok_3_Launch_-_xAI_new_chatbot_surpasses_competitors_-_including_ChatGPT-min.png)
[VIDEO] Grok-3 Launch: xAI’s Breakthrough in AI Development and the Challenges AheadxAI has unveiled Grok-3, a major leap in artificial intelligence, positioning it as a direct competitor to OpenAI’s GPT-4o. Powered by the Colossus supercomputer, Grok-3 has set new benchmarks in performance, but concerns about data ethics, misinformation, and privacy remain.
Tuesday, February 18th 2025 01:00AM -
Elon Musk’s Grok 3 AI Set to Challenge Chatbot GiantsxAI’s latest chatbot, Grok 3, is launching on February 17, 2025, at 8:00 PM Pacific Time (February 18, 2025, at 5:00 AM UTC+1) with claims of superior reasoning abilities. Backed by powerful computing resources, it aims to surpass OpenAI and Google in the artificial intelligence field.
Monday, February 17th 2025 01:00AM -
Web3 Innovations Transforming Cross-Border Payments in FintechRecent developments in Web3 technologies are revolutionizing cross-border payments, offering faster, more secure, and cost-effective solutions for international transactions.
Monday, February 17th 2025 01:00AM -
The Geopolitical AI War: How We Got Here - FTW Sunday EditorialThe AI War isn’t coming—it’s already here. As the U.S., China, and the EU battle for dominance in artificial intelligence, history repeats itself in a new kind of Cold War. How did geopolitics shape this silent arms race, and what forces led us to the current Geopolitical AI War? Dive into the past to understand the future of power.
Sunday, February 16th 2025 01:00AM -
EU's InvestAI Initiative: Can €200 Billion Close the AI Gap with the U.S. and China?The European Union is ramping up artificial intelligence investments with a new initiative, InvestAI, to bridge the funding and development gap with the U.S. and China. This move follows concerns over slow innovation and excessive regulations that have hindered Europe's AI sector.
Saturday, February 15th 2025 01:00AM -
DeepSeek Shakes AI Industry as China’s Open-Source Model Gains GroundThe rapid rise of China’s DeepSeek AI model is disrupting the artificial intelligence industry, challenging Silicon Valley’s dominance. As open-source technology fuels innovation in China, U.S. firms and policymakers scramble to respond. This shift raises questions about global AI leadership, economic implications, and technological security.
Friday, February 14th 2025 01:00AM -
European Union Pledges €200 Billion to Strengthen AI Industry and Compete GloballyThe European Union has announced a massive €200 billion investment to advance its artificial intelligence sector. The initiative, revealed at the AI Action Summit in Paris, aims to build AI gigafactories and close the gap with the United States and China. With this commitment, Europe positions itself as a major player in AI development and infrastructure.
Thursday, February 13th 2025 01:00AM -
Trump Administration Suspends Consumer Financial Protection Bureau OperationsThe Trump administration has ordered the Consumer Financial Protection Bureau (CFPB) to halt all activities, leading to significant concerns about the future of consumer financial safeguards.
Wednesday, February 12th 2025 01:00AM -
Fed Chair Powell Signals Cautious Approach Amid Economic Strength, Implications for Fintech and BankingFederal Reserve Chair Jerome Powell, in his testimony before the Senate Banking Committee, reaffirmed a patient stance on interest rate adjustments. While his remarks focused on inflation control and economic stability, his cautious approach to monetary policy could have significant implications for fintech innovation, open banking, and financial sector partnerships.
Tuesday, February 11th 2025 01:00AM -
Fintech Startup Cushion Closes After Eight Years Amid Industry ShiftsCushion, a fintech company that helped consumers manage bank fees and buy now, pay later (BNPL) loans, has shut down. The closure highlights the ongoing struggles fintech startups face, even as some companies prepare for public offerings.
Monday, February 10th 2025 01:00AM -
The DOGE Experiment: A Fintech Disruption or a National Risk? - FTW Sunday EditorialThe Department of Government Efficiency (DOGE) is reshaping federal finance, blending fintech innovation with public policy. While promising modernization and cost savings, its approach raises concerns about security, oversight, and regulatory impact. Is this a fintech revolution or a national risk?
Sunday, February 9th 2025 01:00AM -
Experts Urge Caution in Developing Conscious AI SystemsOver 100 AI experts, including Sir Stephen Fry, have signed an open letter advocating for responsible research into artificial intelligence consciousness. They propose five guiding principles to prevent potential suffering in AI systems if consciousness is achieved.
Saturday, February 8th 2025 01:00AM -
Ondo Finance Launches Ondo Chain to Bridge Traditional Finance and BlockchainOndo Finance has introduced Ondo Chain, a layer-1 blockchain designed to facilitate the tokenization of real-world assets, aiming to integrate traditional financial systems with decentralized finance.
Friday, February 7th 2025 01:00AM