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The financial technology industry has undergone a significant transformation in recent years, with many industry executives and investors believing that the sector has finally reached a “bottom.” During the Money20/20 event in Amsterdam, executives shared their views with CNBC on how valuations have adjusted from unsustainable highs in the industry's peak years of 2020 and
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Rivian Automotive has recently announced the redesign of its all-electric R1 pickup and SUV models, with a focus on improving range, performance, and computing power. Despite the 2025 model-year vehicles looking similar outwardly to the current models, Rivian has made significant changes to over half of the hardware components in the second-generation products. In addition,
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Financial technology startup Nium recently announced a $50 million fundraising round, with plans to go public within the next 18 months. The round was led by a Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital, and Tribe Capital. Despite the significant amount raised, Nium's valuation now stands at $1.4
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Monzo, a prominent British digital challenger bank, recently made headlines by announcing its first full year of profitability. According to the fintech startup's annual financial report, it recorded pre-tax profits of £15.4 million ($19.6 million) in the 2023-2024 fiscal year. This achievement marked a significant turnaround from the previous year, where Monzo suffered a loss
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In a surprising move, Nvidia CEO Jensen Huang unveiled the company's next generation of artificial intelligence chips, named “Rubin,” just months after the announcement of the “Blackwell” model. The announcement took place ahead of the COMPUTEX tech conference in Taipei, marking a significant advancement in AI chip technology by Nvidia. With the introduction of Rubin,
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