HELL’S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell’s Gate National Park. The mine, tucked away on the edge of Lake Naivasha, is operated by a startup called Gridless and consists of a single 500-kilowatt … Read more
Here are the most important news items that investors need to start their trading day: 1. Rocketing to records 2. To the moon As the new space race rolls on, Thursday brought another historic moment to the final frontier. Intuitive Machines became the first company to land on the moon when its IM-1 mission touched … Read more
In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England. Leon Neal | Getty Images Check out the companies making headlines in extended trading. Intuit â Shares pulled back roughly 1% after the financial software company … Read more
Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Block stock rose as much as 14% in extended trading Thursday after the payments company reported fourth-quarter earnings that beat … Read more
Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger â gaining “scale” in Wall Street-speak â it’s a bid to protect itself against a rising tide of fintech and regulatory threats. It’s a chess … Read more
Adyen reported a big miss on first-half sales Thursday. The news drove a $20 billion rout in the company’s market capitalization . Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images Shares of European online payments giant Adyen jumped on Thursday, after the company reported strong sales growth and better-than-expected profit for 2023. Adyen, … Read more
PayPal will cut 9% of its global workforce, or about 2,500 jobs, CEO Alex Chriss wrote Tuesday in an internal letter to employees, which was viewed by CNBC. The cuts will affect both existing roles and job listings that PayPal had planned to hire for, and will take place over the course of the year, … Read more
Pedestrians walk by an advertisement for Klarna. Daniel Harvey Gonzalez | In Pictures via Getty Images When she started shopping for the holidays late last year, Kiki Andersen was struggling to buy her loved ones gifts. So she turned to a novel solution to get through the season: Buy now, pay later. The 31-year-old comedian … Read more
OpenAI is back in action after its leadership tumult, debuting two product and service launches on Wednesday: the GPT Store — OpenAI’s answer to the App Store, which allows users to list personalized chatbots, or GPTs, they’ve built for others to download — and ChatGPT Team, a new option for businesses. ChatGPT Team, the smaller … Read more
Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value. Affirm investors are wrapping up 2023 in a much different mood. The … Read more
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