QED's focus on embedded finance, cross-border payments and wealth management, with an average check size of $15-20 million.
Major investments: Credit Karma, Creditas, Nubank, SoFi
Kin Insurance, One Card, Moniepoint among recent major investments
The growth in global fintech investments highlights the increasing importance of digital financial services.
Mary Ann Azevedo
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OpenAI is forecasting a significant change in its computing power sources over the next five years. By 2030, the company expects to get three-quarters of its data center capacity from Stargate, a project heavily financed by SoftBank. This represents a major shift away from Microsoft, OpenAI's biggest shareholder, who currently fulfills most of the startup's power needs.
Apple has confirmed that it can no longer offer its Advanced Data Protection (ADP) feature for iCloud data in the UK. The company is pulling back on the security measure after the UK government reportedly demanded a 'backdoor' to access encrypted cloud data.
TechCrunch is hosting an AI-focused event, TC Sessions: AI, on June 5 at UC Berkeley's Zellerbach Hall. The event will feature top AI visionaries from the startup world leading sessions and interactive roundtables. Attendees can expect to learn about pressing AI topics and gain insights into the future of AI.
Occidental's plan to use direct air capture (DAC) technology to pump more oil has raised concerns about its potential climate impact. The company had previously stated that it would use DAC to zero out its climate footprint, but CEO Vicki Hollub recently revealed that the goal is to boost oil production by injecting CO2 into wells.
Apple News+ Food is the latest addition to Apple's suite of services. This new offering provides users with access to a vast array of recipes from top food publications and websites, making it easier than ever to find inspiration for your next meal.
Meta is expanding its engineering team in India by setting up a new site in Bengaluru. The company is currently hiring for 41 positions, mostly software and machine learning engineers. This represents a shift for Meta, which has historically based engineering roles in North America and Europe.
A study by Global Witness has found that TikTok and X's algorithmic 'For You' feeds in Germany are biased towards promoting AfD content over other political parties, ahead of the upcoming federal elections. The findings suggest that the platforms may not be neutral or impartial, potentially perpetuating harmful biases.
DeepSeek, a Chinese AI lab, is planning an 'open source week' event where it will open source five code repositories that have been 'documented, deployed and battle-tested in production'. This move is seen as a rare step in the industry, with DeepSeek citing its commitment to the open-source community.
A recent report by GitClear analyzed 211 million code lines from 2020 to 2024 and found a remarkable decline in code reuse. This may be a cause for concern, given that code reuse is a common practice to help build redundant systems.
CircNova, a tiny Michigan biotech startup, has raised a $3.3 million seed round for its technology that uses AI to target 'circular RNA.' The development holds promise as a new method to quickly develop therapies for conditions that currently have no drug treatments.
Bybit crypto exchange has been hacked, resulting in the theft of 401,346 Ethereum (ETH) coins worth approximately $1.4 billion. This is the largest known cryptocurrency heist in history, surpassing previous records.
This week's edition of Startups Weekly highlights the startup world's mix of births and deaths. Unicorn rounds are still going strong, while fintech Varo closes another funding round. Meanwhile, AI-powered legal tech startup Luminance raises $75 million in a Series C funding round.
Apple Intelligence is heading to the Vision Pro as part of an upcoming operating system update. The generative AI platform will bring features like Rewrite, Proofread, and Summarize to the extended reality headset.
Fintech startup founder Charlie Javice's criminal trial has begun, with allegations that she helped create fake customers to induce a bank to buy her company for $175 million. The trial is the result of a lawsuit filed by JPMorgan Chase against Javice and her company, Frank, in December 2022.