Author: nripn

Cedar-IBSi Capital announced on Saturday (November 16) that it plans to invest in 10 to 15 startups working in the banking sector and insurance technology segment to expand its presence in the country.”The fund plans to build a portfolio of companies, allocating a budget between Rs 4 and 10 crore, with a focus on financial strengthening of eight to 10 high-performing companies,” he said. The fund has already gathered commitments in the range of Rs 50-75 crore from its Rs 240 crore seed fund launched in 2023, he added.“We are focused on investing in startups that offer unique products and…

By Toby Sterling and Nathan Vifflin AMSTERDAM (Reuters) – Computer chip equipment maker ASML, facing the threat of new U.S. restrictions on trade with China, is optimistic about sales growth over the next five years as the AI’s rise is fueling strong demand for the company’s most advanced tools. CEO Christophe Fouquet, speaking at the company’s investor day in Veldhoven in the Netherlands on Thursday, said the company’s sales growth would average 8% to 14% over the next five years. “Looking ahead to 2030, we remain very, very optimistic,” Fouquet told the gathered investors and analysts. He said the global…

(Bloomberg) — ASML Holding NV, the Dutch maker of advanced chipmaking machines critical to global supply chains, reaffirmed its long-term revenue outlook as it bets on a boom in demand for semi- drivers driven by artificial intelligence. Most read on Bloomberg The Dutch company expects its 2030 sales to be between 44 billion euros ($46 billion) and 60 billion euros, in line with its previous forecast, according to an investor day statement on Thursday of the company. The outlook is intended to reassure investors after the company’s order intake far exceeded analysts’ estimates in the third quarter, triggering a sell-off…

By Liam Mo and Brenda Goh BEIJING (Reuters) – China’s Baidu Inc on Tuesday unveiled a series of new applications for its artificial intelligence technology, including improved text-to-image generation technology and a tool allowing users to develop software applications without expertise in coding. The country’s leading search engine company is among the technology companies focusing on commercializing large language model (LLM) applications after nearly two years of massive investment in research and development of models that they present as alternatives to OpenAI’s GPT. At the annual Baidu World conference, CEO Robin Li introduced I-RAG, a text-to-image conversion technology that leverages…

GANDHINAGAR: Gujarat International Finance Tec-City (GIFT City) announced the launch of GIFT International Financial Technology Institute (GIFT IFI) and the GIFT International Fintech Innovation Center (GIFT IFIH)—an incubator and accelerator dedicated to financial technologies, supported by the Asian Development Bank (ADB). This is a crucial step in GIFT City’s journey to become a global hub for education, innovation and start-up growth in fintech. These initiatives are expected to transform the fintech landscape, strengthen GIFT City’s position as a leading international fintech hub and attract the attention of world-class talent and industry in India. The GIFT IFI will be led by…

Nigerian policymakers put out fires this week, responding to threats to take down WhatsApp and denying any approval of mobile rate increases in the West African country.On the first point, the Federal Competition and Consumer Protection Commission (FCCPC) has criticized instant messaging service WhatsApp’s claims that it may leave Nigeria after its parent company, Meta, was convicted last month. last fined $220 million for alleged data breaches.”WhatsApp’s claim that it may be forced to leave Nigeria due to the FCCPC’s recent order appears to be a strategic move aimed at influencing public opinion and potentially pressuring the FCCPC to reconsider…

Launched in 2023, in line with Visa’s commitment to invest US$1 billion in financial inclusion in Africa by 2027, the Africa Fintech Accelerator has so far accelerated 45 startups across two cohorts, with 15 active partnerships now in place. The 23 startups that participated in the first program last year received mentorship, technology credits and opportunities to connect with potential investors during demo day, but only four were selected for strategic investment from Visa . The selected startups were Oze, a Ghanaian corporate banking platform; Orda, a Nigerian restaurant technology startup; WorkPay, a Kenyan human resources and payroll management company;…

(Bloomberg) — OpenAI was on the verge of a major milestone. The startup completed an initial round of training in September for a massive new artificial intelligence model that it hoped would significantly outperform previous versions of the technology behind ChatGPT and move closer to its goal of powerful AI that outperforms humans.But the model, known internally as Orion, did not achieve the performance the company desired, according to two people familiar with the matter, who spoke on the condition of anonymity to discuss company business. . Late in the summer, for example, Orion failed to answer coding questions he…

Amazon set to introduce new AI chips in December to rival Jensen Huang’s trusty AI: ‘We want to be absolutely the best place to run Nvidia’ Amazon.com Inc. (NASDAQ:AMZN) is preparing to present its new artificial intelligence chips in December. His strategic move aims to leverage Amazon’s significant investments in semiconductors and reduce reliance on Jensen Huang. Nvidia Corp. (NASDAQ:NVDA). Don’t miss: What happened: Amazon’s cloud division focuses on developing custom chips to improve data center efficiency and reduce costs for itself and its Amazon Web Services (AWS) customers. The initiative is supported by Annapurna Laboratoriesa chip startup acquired by…

Viola Credit specializes in providing asset-based lending to fintech companies and the innovation economy. The firm has approximately $3 billion (£2.29 billion) in assets under management, with offices in New York, London, Tel Aviv and Sydney. Alex Ginzburg (pictured), partner and head of risk at the global asset manager, explains how the firm is helping to close the fintech funding gap. Alternative credit investor (ACI): Who are the investors in Viola Credit? Alex Ginzburg (AG): We operate through our mixed funds, which we collect from institutional investors. We have a fairly large institutional investor base and we manage funds on…