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Amazon Makes Landmark $2.75 Billion Investment in AI Startup Anthropic

As part of a larger fundraising initiative, Amazon has made its most significant external investment $2.75 billion to AI company Anthropic. OpenAI and

As part of a larger fundraising initiative, Amazon has made its most significant external investment $2.75 billion to AI company Anthropic. OpenAI and ChatGPT are rivals of Anthropic, wellknown for its generative AI models and chatbot Claude. Through the agreement, Amazon will have a minority ownership but no board membership in Anthropic. The most recent AI model from Anthropic, Claude 3, performs better than rivals like Googles Gemini Ultra and OpenAIs GPT4. In 2023, investments in generative AI surged to $29.1 billion. Anthropic is required by the investment agreement to utilise Amazons chips and AWS for its models. Even though complicated AI models might pose hazards, Amazons investment shows it is committed to developing AI technology. Read More..

B2B Tech News | 24 days ago        

Nigerias Central Bank Raises Monetary Policy Rate to 24.75% in Effort to Curb Inflation Surge

Nigerias central bank, led by Governor Olayemi Cardoso, announced a significant increase in its monetary policy rate, raising it by 200 basis points t

Nigerias central bank, led by Governor Olayemi Cardoso, announced a significant increase in its monetary policy rate, raising it by 200 basis points to 24.75% from the previous 22.75%. This move is part of ongoing efforts to combat surging inflation, which reached over 30% annually, the highest in nearly three decades. Last month, the bank implemented its largest rate hike in about 17 years, increasing the rate by 4 percentage points. Governor Cardoso emphasized the Monetary Policy Committees commitment to tightening measures to curb inflation, with a focus on stabilizing inflation expectations and ensuring exchange rate stability. This decision follows a series of reforms by President Bola Tinubu, including the cessation of fuel subsidies and the devaluation of the national currency, the naira. Read More..

B2B Tech News | 24 days ago        

Alaska Airlines and Hawaiian Airlines Reach Timing Agreement with DOJ on Merger

A timeline for the planned merger of Hawaiian Airlines HA.O and Alaska Airlines ALK.N has been agreed upon with the Department of Justice DOJ. They ha

A timeline for the planned merger of Hawaiian Airlines HA.O and Alaska Airlines ALK.N has been agreed upon with the Department of Justice DOJ. They have committed to delaying the completion of their merger for at least ninety days following the certification of substantial compliance by both parties with a second request for information about antitrust. This agreement is a regulatory stage in the merger to guarantee that the DOJ has enough time to examine the proposed merger and determine any potential antitrust ramifications before it advances. Read More..

B2B Tech News | 24 days ago        

Francis Scott Key Bridge Collapse Disrupts Shipping at Baltimore Port

One of the busiest ports in the United States has experienced disruptions to shipping and transportation operations due to the Francis Scott Key Bridg

One of the busiest ports in the United States has experienced disruptions to shipping and transportation operations due to the Francis Scott Key Bridge collapse in Baltimore. Due to a collision with a container ship, the bridge collapsed, resulting in an indefinite suspension of ship traffic and the need to reroute goods and vessels. Supply chains will probably be impacted by the congestion and delays this occurrence causes for importers. Furthermore, transportation durations would treble due to the absence of the bridge, especially for hazardous products, which will result in delays and higher fuel expenses. Experts predict shortages and interruptions in ocean container shipping and East Coast transportation operations. At the same time, the full extent of the damage is still unknown. Read More..

B2B Tech News | 26 days ago        

Pakistan Considers Restoring Trade Ties with India, Signals Diplomatic Shift

Muhammad Ishaq Dar, Pakistans Foreign Minister, has hinted at a possible change in the countrys diplomatic approach towards India by saying that Pakis

Muhammad Ishaq Dar, Pakistans Foreign Minister, has hinted at a possible change in the countrys diplomatic approach towards India by saying that Pakistan will "seriously" examine mending commercial relations with its neighbour. During a press conference in London, Dar expressed how excited Pakistans business community is to begin economic activity with India. This declaration implies a change in strategy from Pakistans prior position in the wake of Indias withdrawal of Article 370 in August 2019, which resulted in a deterioration of diplomatic relations. In February 2021, both nations extended the truce along the Line of Control despite their tense ties. Shehbaz Sharif of Pakistan and Indian Prime Minister Narendra Modi have recently spoken, raising expectations for a diplomatic thaw given Sharifs emphasis on economic development as the leader of Pakistans new coalition government. Read More..

B2B Tech News | 26 days ago        

Cryptocurrency Exchange Binance Rocked as Executive Escapes Custody in Nigeria

Nadeem Anjarwalla, an executive of cryptocurrency exchange Binance, is said to have escaped from detention in Nigeria during a criminal probe into the

Nadeem Anjarwalla, an executive of cryptocurrency exchange Binance, is said to have escaped from detention in Nigeria during a criminal probe into the platforms possible participation in money laundering. Authorities claim that Anjarwalla, the regional manager for Africa at Binance, used a smuggled passport to flee Nigeria. He and his colleague Tigran Gambaryan have been in custody since February 26 as part of an operation on the cryptocurrency site. Following allegations of money laundering and sponsorship of terrorism, Binance stopped trading with the Nigerian naira in March. The fact that Anjarwalla escaped raises concerns regarding security protocols since officials have detained those in charge of his care. Additional legal issues that Binance must deal with include tax evasion accusations brought by the Nigerian tax authority. Read More..

B2B Tech News | 26 days ago        

Hyundai Motor Group Unveils $51 Billion Investment Plan for Electric Vehicles and Mobility Ventures

In addition to recruiting 80,000 additional staff, Hyundai Motor Group announced a significant investment of 68 trillion won $51 billion over three ye

In addition to recruiting 80,000 additional staff, Hyundai Motor Group announced a significant investment of 68 trillion won $51 billion over three years to bolster its position in electric cars EVs and new mobility endeavours. Around 35.5 trillion won, or more than half of the investment would go towards EV assembly lines and R&D facilities. An additional 31.1 trillion won will go towards EVrelated research, including battery and softwaredefined vehicle development. Of the 44,000 new workers, the bulk will work to advance future business sectors, including carbon neutrality, softwaredefined vehicles, and electrification. This investment demonstrates Hyundai Motor Groups dedication to innovation and environment friendly mobility solutions. Read More..

B2B Tech News | 26 days ago        

Robinhood Launches New Credit Card for Robinhood Gold Subscribers

A new credit card that is only available to Robinhood Gold users was introduced by Robinhood Markets, indicating a deliberate move outside of its prim

A new credit card that is only available to Robinhood Gold users was introduced by Robinhood Markets, indicating a deliberate move outside of its primary trading operation. With this move, it hopes to strengthen its products at the premium tier and expand into the more significant personal finance sector. The card intends to attract consumers seeking value and financial ease with features including no annual fees, 0% international transaction costs, and significant cashback returns of up to 3%, plus 5% on reservations through Robinhoods travel platform. Robinhood aims to increase its income streams and reduce market volatility by broadening its range of products. Encouraged by its recent positive financial performance, which included a surprise profit fueled by higher interest revenue and trading activity, the business plans to roll out more broadly later this year. Read More..

B2B Tech News | 26 days ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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