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The rapid advance of financial-technology companies in Africa could help traditional lenders enhance their customer service, said the chief executive officer of Rand Merchant Bank, a unit of FirstRand Ltd., Africa’s biggest bank by market capitalization.

Corporate spending management platform Ramp reached a $32 billion valuation after a $300 million primary financing round and an employee tender offer.

Money is still pouring in from the race to build out artificial intelligence infrastructure, but traders are suddenly getting more selective about who the beneficiaries will be.

Peter Thiel’s hedge fund Thiel Macro LLC sold its stake in Nvidia Corp. during the third quarter, marking yet another retreat from investments in the world’s leading provider of artificial-intelligence chips.

Dealmaking is going to get even busier in technology, telecommunications and media in the Asia Pacific region next year, according to JPMorgan Chase & Co., building on the four-year high reached this year.

... News Roundup · Artificial intelligence. Sakana AI takes crown as Japan's most valuable unicorn. AI developer valued at $2.63bn in latest funding round.

Two of Japan’s most promising tech firms together secured more than ¥35 billion ($230 million) of financing this week, underscoring growing investor interest in the country’s burgeoning AI scene.

Princeton Digital Group, a data center operator in Asia backed by Warburg Pincus, plans to invest $700 million in its first South Korean campus to power artificial intelligence development in the country.

A simple reason why the biggest investors say they aren't worried about AI bubble, tech stock selling ... Global Business and Financial News, Stock...

Airtasker Ltd., an online marketplace where people post or accept tasks such as household cleaning or assembling flat-packed furniture, is preparing for an equity raising to fund growth in the US, the Australian Financial Review reported.

Short sellers like Michael Burry and Jim Chanos are circling, warning that the AI buildout isn’t a one-time investment but a recurring cost wave.

Singapore’s Temasek Holdings, one of the world’s largest sovereign wealth funds, opened positions in two of China’s leading autonomous driving companies in the third quarter of this year. The state-owned company bought about 1.4 million shares of WeRide and 14,500 shares of Pony.ai in the September quarter, according to its 13F filings released on Friday. The total value of the shares was around US$13.7 million. Temasek has a history of investing in autonomous driving companies. These included...

Bloomberg’s Caroline Hyde and Ed Ludlow discuss the latest moves in tech stocks as skepticism grows about whether the Federal Reserve will cut interest rates in December. Plus, Thinking Machines, the AI startup founded by former OpenAI executive Mira Murati, is in talks to raise funding at a $50 billion valuation. And Cursor CEO Michael Truell discusses the AI-coding startup’s latest fundraise at a $29.3 billion valuation. (Source: Bloomberg)

AI (Artificial Intelligence) letters and robot hand ... The Reuters Daily Briefing newsletter provides all the news you need to start your day.

With over $1 trillion in AI spending planned over the next five years, the useful lifespan of the infrastructure is a key issue for investors.

The GunslingerThere are, it seems, two ways to build a world-changing AI company. The first is the OpenAI way: you raise money at a blistering pace, you spend it at an even more blistering pace, and you bet that by building the biggest, most powerful models—for text,

The CEOs of DeepL and Picsart told CNBC they were concerned about AI valuations but touted the longer term potential of the technology.

The funding round adds $5 billion to the $10 billion funding round reported in September, which valued the startup at $200 billion.

Cursor built a popular AI coding tool that helps software developers generate, edit and review code.

AI startup Code Metal is going beyond vibe coding with the ... Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

The funding round adds $5 billion to the $10 billion funding round reported in September, which valued the startup at $200 billion.

Large tech companies have been stuffing artificial intelligence software into every possible product for years. Now, Founders Fund is backing a startup that wants to help Main Street businesses use the technology, too.

Cursor, an artificial intelligence coding startup, has raised $2.3 billion in funding at a $29.3 billion valuation, roughly tripling its value in a matter of months.

Rapid-delivery startup Gopuff has raised $250 million at a valuation of $8.5 billion, according to a person familiar with the matter — a significant markdown from its value in a 2021 funding round, as the company seeks to grow its services and sustain its financial health.

AI startup Parallel Web Systems ... Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter.

German startup Ferroelectric Memory GmbH has raised €100 million ($116 million) in investor financing and subsidies to commercialize energy-saving memory chips.

UK fintech Zilch Technology Ltd. raised $176.7 million in a mixed debt and equity raise to fund expansion and potentially a takeover.

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

Code Metal has raised $36.5 million in a funding round led by Accel.

SoftBank Group Corp.'s stock slid as much as 10% after the tech investor's exit from AI chipmaker Nvidia Corp. ... Provide news feedback or report an...