News/Finance
AI shifts SaaS pricing from user-based to output models
Artificial intelligence is fundamentally transforming how software companies price their products, shifting from traditional user-based models to output-based pricing that reflects the actual work AI performs. This evolution demands a complete rethink of SaaS business models, as value increasingly stems from automated tasks like code generation and support ticket resolution rather than simple user access. The big picture: The transition from cloud-era to AI-era software represents a fundamental shift in how value is created and measured in enterprise technology. In the cloud era, value scaled with the number of users accessing shared systems like Salesforce, making per-seat pricing logical and...
read Jul 18, 2025Netflix has strong second-quarter while moving into live sports, AI experimentation
Netflix exceeded Wall Street's second-quarter expectations with strong performance driven by popular returning shows and live programming, while providing optimistic guidance for the rest of 2025. The streaming giant's strategic expansion into live sports, events, and AI-powered content creation signals its evolution beyond traditional on-demand viewing as it seeks new growth avenues after dominating the first phase of the streaming wars. What you should know: Netflix's financial performance surpassed analyst predictions, though shares dipped slightly in after-hours trading despite a remarkable 128% stock surge over the past year to around $1,253 per share. The company maintained its content spending guidance...
read Jul 17, 2025TSMC reports record $12.9B profit as AI chip demand soars
Taiwan Semiconductor Manufacturing Company (TSMC) is expected to report a record-breaking 52% surge in second-quarter profit to T$377.4 billion ($12.9 billion) on Thursday, driven by soaring demand for advanced AI chips. However, the world's largest contract chipmaker faces mounting concerns over potential U.S. tariffs under President Trump and a strengthening Taiwan dollar that could pressure future margins. What you should know: TSMC's anticipated quarterly profit would mark its highest-ever net income and sixth consecutive quarter of growth, reflecting the company's central role in the AI boom. The company has already flagged a 38.6% rise in second-quarter revenue for the three...
read Jul 15, 2025Tech titans back Erebor Bank with $250M+ for crypto, AI, and defense startups
Tech titans Palmer Luckey and Joe Lonsdale are backing Erebor Bank, a new financial institution targeting crypto, AI, and defense startups in the wake of Silicon Valley Bank's 2023 collapse. The venture aims to fill a critical gap in specialized banking services for high-risk frontier industries, leveraging the Trump administration's deregulatory stance toward crypto-friendly banking. What you should know: Erebor Bank has filed for a national bank charter with backing exceeding $250 million from prominent tech investors and firms. Palmer Luckey (Anduril cofounder), Joe Lonsdale's 8VC, Peter Thiel's Founders Fund, and crypto-focused Haun Ventures are among the key investors. The...
read Jul 15, 2025What’s next, Claude Cash? Anthropic launches Claude for Financial Services with data connectors
Anthropic has launched Claude for Financial Services, a specialized version of its enterprise AI platform designed specifically for the financial sector. The new offering includes pre-built connectors to major financial data providers like FactSet and PitchBook, higher usage limits, and industry-specific prompt libraries to help financial institutions integrate AI more effectively into their workflows. What you should know: Claude for Financial Services builds on Anthropic's existing enterprise platform with three key enhancements tailored for financial institutions. The platform includes pre-built MCP (Model Context Protocol) connectors to financial data providers including FactSet, PitchBook, S&P Capital IQ, and Morningstar, eliminating the need...
read Jul 15, 2025US startup funding surges 75% to $162.8B as AI deals dominate 2025
U.S. startup funding surged 75.6% in the first half of 2025 to $162.8 billion, driven by massive AI investments including OpenAI's $40 billion round and Meta's $14.3 billion stake in Scale AI. This marks the strongest performance since 2021's historic peak, with AI deals accounting for 64.1% of total deal value, even as venture capital firms face a 33.7% decline in fundraising amid longer timelines and limited partner concerns. The big picture: The disconnect between startup funding abundance and VC fundraising struggles reflects a market where AI investments dominate while traditional venture capital faces structural headwinds. AI investments accounted for...
read Jul 9, 2025Job alert: YC-backed attimet hiring founding researcher for AI trading systems at $150K
Y Combinator-backed attimet is hiring a founding researcher/quant to lead AI strategy at their new research lab focused on financial markets. The San Francisco-based startup, founded in 2024, is building temporal AI systems that adapt, predict, and act in real-time trading environments, starting with options markets. What you should know: attimet is taking a first-principles approach to trading by designing systems that learn and adapt with data, rather than relying on traditional hand-crafted signals and intuition. The company offers $100K-$150K salary plus 0.25%-1.00% equity for this full-time position requiring 3+ years of experience. The role involves leading development of predictive...
read Jul 9, 2025PayPal launches AI system to block scams before transactions complete
PayPal has launched a new AI-powered scam alert system that can intercept transactions before they're completed, warning users about potential fraud in real-time. The system uses continually learning AI models to detect emerging scam patterns and provides dynamic warnings that vary based on risk levels, from simple alerts to complete payment blocks. How it works: The AI system analyzes billions of data points to identify risk signals and adapts to new scam types without being specifically trained on them. PayPal's models use "continually learning" technology that can detect similarities between known scams and new ones, allowing them to catch previously...
read Jul 9, 2025Automation Anywhere saves $350K with 40+ AI agents across finance and support
Automation Anywhere has deployed more than 40 AI agents across its own operations since February 2024, saving several hundred thousand dollars while demonstrating the technology's potential to customers. The process automation vendor's internal "Putting AI Agents to Work" project spans finance, tech support, and marketing functions, earning the company a 2025 CIO 100 Award for IT innovation and leadership. Key financial impact: The company's finance operations alone generated $350,000 in cost savings through 12 targeted AI agent use cases. Agents optimized order-to-cash, record-to-report, and tax operations, delivering 6,000 hours of increased productivity. Cash flow improvements and risk mitigation totaled nearly...
read Jul 2, 2025Case Study: Capital One’s AI agents boost car dealership sales 55%
Capital One has built an agentic AI system for its auto business that mimics the company's own organizational structure, with specialized agents working together like human teams. The approach has delivered impressive results, with dealership clients reporting a 55% improvement in engagement and sales leads, demonstrating how financial institutions can leverage AI to enhance customer service while maintaining rigorous oversight and risk management. What you should know: Capital One began developing its agentic platform 15 months ago, before "agentic became a buzzword," focusing on creating agents that problem-solve alongside customers like human agents do. The company studied how its human...
read Jun 25, 2025Genspark hits $36M revenue in 45 days with autonomous AI agent platform and “vibe work” approach
Genspark has introduced its Super Agent platform that enables "vibe working"—a natural language approach to enterprise workflows that allows AI agents to operate autonomously without rigid predefined processes. The platform challenges traditional enterprise AI orthodoxy by prioritizing autonomous problem-solving over deterministic workflow execution, potentially reshaping how organizations approach complex business tasks. What you should know: Genspark's Super Agent represents a fundamental shift from structured workflows to autonomous AI operation across enterprise functions. The platform combines nine different large language models in a mixture-of-experts configuration, equipped with over 80 tools and 10+ premium datasets. The system operates on a classic agent...
read Jun 20, 2025Race to the bottom line: States forfeit $6B in tax breaks to Big Tech data centers
States are forfeiting hundreds of millions of dollars in tax revenue through data center sales tax exemptions, with 16 states alone granting nearly $6 billion in breaks over the past five years to tech giants like Amazon, Meta, and Google. The generous incentives have sparked debate about whether massive corporations should receive such benefits, especially since data centers create relatively few permanent jobs while consuming enormous amounts of electricity. What you should know: A CNBC analysis found that 42 states provide full or partial sales tax exemptions to data centers, with 37 states passing specific legislation for these breaks. Microsoft...
read Jun 19, 2025North Korean hackers used AI deepfakes to steal $659M in crypto
North Korean hackers from the notorious Lazarus group used AI deepfakes to impersonate company executives during a fake Zoom call, successfully tricking an employee at a cryptocurrency foundation into downloading malware. The sophisticated social engineering attack, orchestrated by the BlueNoroff unit, demonstrates how state-sponsored cybercriminals are weaponizing AI technology to target high-value cryptocurrency assets, with North Korea having stolen at least $659 million in digital currency in 2024 alone. The attack methodology: The hackers initiated contact through Telegram, sending a Calendly link that redirected the victim to a fake Zoom domain under their control.• During the group video call, multiple...
read Jun 17, 2025Canadian hedge fund manager says firms must become tech companies to survive AI
Canadian hedge fund manager David Picton is aggressively expanding his firm's technology capabilities and AI expertise as part of a broader growth strategy. The move reflects a growing recognition among traditional financial firms that artificial intelligence will fundamentally reshape money management, forcing even established players to transform into technology-driven organizations. What you should know: Picton's firm is prioritizing technology talent acquisition across multiple disciplines to stay competitive in an AI-driven financial landscape. "We have way more technology, programming, front-end developers than I would've ever thought — and we still need way more," Picton said in an interview. The hiring push...
read Jun 10, 2025Making a habit of Starbucks? Starling Bank launches AI tool that assesses spending routines
Starling Bank has launched an AI-powered spending analysis tool that answers natural language questions about customers' financial habits, such as revealing how much they've spent at specific retailers like McDonald's over any given period. Built with Google Gemini, the "enhanced search" feature automatically categorizes transactions across more than 50 customizable categories and provides personalized spending insights through conversational prompts. How it works: The opt-in AI tool transforms traditional banking data into an interactive financial advisor that responds to everyday questions about spending patterns. Customers can ask questions like "How much did I spend at Amazon last month?" or "How much...
read Jun 6, 2025In the Money: Google tests interactive finance charts in AI Mode for stock comparisons
Google has begun testing interactive charts in AI Mode for finance-related queries, allowing users to generate custom graphs that compare stock and mutual fund performance over time. The feature represents an expansion of Google's AI Mode capabilities, which initially launched as a Search Labs experiment earlier this year before becoming available to all US users. What you should know: The interactive charts feature currently focuses exclusively on finance queries and is available only as a Search Labs experiment in the United States. Users can ask questions like "compare the stock performance of blue chip CPG companies in 2024" to generate...
read Jun 4, 2025AI boom fuels private credit growth, says Apollo’s John Zito
Private credit's adaptability makes it uniquely positioned to capitalize on the rapid evolution of AI technologies. As artificial intelligence development outpaces traditional financing timelines, private credit offers the flexibility and speed needed to fund everything from data centers to power infrastructure. This emerging synergy between flexible capital and AI innovation highlights a significant opportunity for investors who can navigate both technological and financial complexities. The big picture: Artificial intelligence's unpredictable advancement trajectory creates opportunities for private credit lenders who can provide flexible funding options tailored to the industry's unique needs. "Being able to underwrite a 15- to 20-year loan, with...
read Jun 3, 2025Standard Chartered hires AI expert to lead wealth data analytics
Standard Chartered's appointment of former HSBC executive Yusuf Demiral as global head of wealth and retail banking data, analytics and AI signals an increasing focus on data-driven strategies in financial services. This leadership move underscores how major banking institutions are prioritizing artificial intelligence capabilities to enhance their wealth management and retail banking offerings. Key details: Standard Chartered has named Yusuf Demiral to lead its global wealth and retail banking data, analytics and AI initiatives. Demiral brings over 25 years of banking experience to the role, most recently serving as group head of data analytics and customer relationship management for wealth...
read May 23, 2025Kentucky’s mining surge – Bitcoin mining, that is – fizzles amid economic challenges
Kentucky's once-promising cryptocurrency mining boom has faded, leaving rural communities in search of the next economic opportunity. The state's swift rise to control 20% of America's Bitcoin mining power represented a technological pivot for a region historically dependent on coal, but current trends suggest many operations are scaling back or shutting down entirely. This shift highlights the volatile nature of cryptocurrency-based economic development in regions seeking to replace traditional industries with digital alternatives. The big picture: Bitcoin mining operations transformed parts of rural Kentucky by repurposing former coal mining sites into cryptocurrency processing centers, but the anticipated economic renaissance has...
read May 23, 2025How “change fluency” separates winners from losers in finance
In a financial landscape marked by extreme volatility and AI-driven disruption, a new strategic capability called "change fluency" is emerging as the critical differentiator between organizations that thrive and those that fail. As financial institutions rush to implement AI technologies amid market turbulence, this organizational adaptation skill—more than technology, strategy, or talent—appears to be the strongest predictor of which companies will survive the next five years of transformation. The big picture: Financial markets are experiencing significant instability while financial services firms simultaneously race to integrate AI, creating a perfect storm that demands exceptional organizational adaptability. The Cboe Volatility Index jumped...
read May 23, 2025AI transforms banking as institutions struggle to adapt
Banking institutions stand at a critical AI crossroads, facing an existential threat to their traditional business models despite being early technology adopters. A new Boston Consulting Group report reveals that while banks have eagerly experimented with artificial intelligence, only 25% have successfully deployed it strategically across their operations. This technological inflection point is rapidly eroding banks' traditional advantages in pricing, customer retention, and financial gatekeeping, potentially redefining which institutions will survive in the evolving financial landscape. The big picture: The banking sector's superficial AI adoption threatens its future relevance as predictive, generative, and agentic AI technologies fundamentally transform financial services....
read May 22, 2025Videoconferencing powerhouse Zoom boosts 2026 outlook as AI drives demand
Zoom's enhanced AI capabilities and expanded services are driving a fiscal outlook upgrade, as the company capitalizes on hybrid work trends despite caution from some larger clients. The videoconferencing giant has successfully integrated agentic AI into its platform while maintaining strong customer demand, allowing it to increase both revenue and profit forecasts for fiscal 2026. The big picture: Zoom Communications has raised its annual revenue forecast after successfully integrating artificial intelligence features across its platform, demonstrating resilience in the evolving hybrid work landscape. The company now expects fiscal 2026 revenue between $4.80 billion and $4.81 billion, up from its previous...
read May 22, 2025Citi equips Hong Kong staff with new AI tools
Citigroup is expanding its artificial intelligence capabilities with the rollout of Citi AI tools for employees in Hong Kong, representing another major financial institution embracing AI for internal operations. The deployment aligns with Hong Kong Monetary Authority's push for responsible AI adoption in banking and extends Citi's existing AI implementation that already reaches 150,000 employees across 11 countries, showcasing how financial giants are strategically integrating AI into their global operations. The big picture: Citigroup has launched Citi AI, a suite of artificial intelligence tools for its employees in Hong Kong, supporting internal operations across several key functions. Key details: The...
read May 22, 2025Last fired, first hired: AI-powered Klarna seeks to rehire 700 displaced workers
Klarna's pivot back to human customer service marks a notable reversal in the fintech sector's approach to AI implementation. After replacing 700 workers with artificial intelligence during a financial downturn that saw its valuation plummet from $45.6 billion to $6.7 billion, the Swedish "buy now, pay later" giant is now acknowledging that AI-driven customer service has led to quality issues. This shift highlights an emerging recalibration in how companies balance automation and human interaction in consumer-facing roles. The big picture: Klarna CEO Sebastian Siemiatkowski is initiating a new hiring pilot to rebuild the company's human customer service capabilities after previous...
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