Indian fintech startup Cred is raising $900 million in a funding round led by Meta, valuing the company at over $4 billion. Meta will become a minority investor but will not have access to Cred's customer data. Cred's founder Kunal Shah will join Meta's global leadership team and lead WhatsApp, while Miten Sampat will serve as interim CEO of Cred. The funds will help Cred accelerate growth and prepare for an eventual IPO, as the company continues to build its credit card payment and lending platform in India.
Google's stock fell as much as 7% after two top AI researchers, John Jumper and Noam Shazeer, left for competitors Anthropic and OpenAI. These departures raise concerns that Google is losing its edge in AI talent and innovation, potentially falling b...
Major tech companies are expected to spend about $750 billion on AI development this year, primarily funded through debt rather than cash reserves. This marks a shift from the past decade when these firms self-funded growth, making them less sensitiv...
After Elon Musk became the world's first trillionaire following SpaceX's public debut, prediction market traders on Kalshi see Meta CEO Mark Zuckerberg as the most likely to become the second trillionaire, with a 32% chance. Zuckerberg's net worth wo...
Global data center vacancy rates have fallen to historic lows amid soaring AI demand, with markets like Northern Virginia at just 0.3% vacancy. This shortage is driving up prices and forcing customers to pre-lease new capacity before completion. Nebi...
Meta has appointed Indian entrepreneur Kunal Shah as the new head of WhatsApp, succeeding Will Cathcart who is moving to a new product role. This leadership change coincides with Meta's $900 million investment in Indian fintech company CRED, where Sh...
