Chime is buying the bank that has held its customers’ money for seven years. The company announced on Tuesday that it has agreed to acquire Stride Bank of Enid, Oklahoma, for $590m in cash. Stride will become Chime Bank and operate as a wholly owned su…
Robinhood has won its first IPO underwriting role, ranking last among 18 banks on Oura’s offering. The bigger shift is in retail distribution: SpaceX reserved about 20% of its deal for individuals and Fidelity cut its minimum order from $500,000 to $2,…
For two years the AI story in banking has been a headcount story. How many graduates a bank takes, and how many it quietly stops taking. UBS has changed the question. It is no longer asking how many juniors it needs. It is asking what a junior has to b…
Anthropic’s stock market debut has moved, and the new date puts it days away from a national election. Reuters reported on Friday that the company expects to start marketing its offering in mid-October at the earliest. The listing would then complete s…
Oura filed to go public on Nasdaq on 3 September, and the coverage split within hours. Reuters reported that the smart ring maker had recently turned profitable. The Wall Street Journal told its readers the same. Bloomberg’s Subrat Patnaik led on a los…
Snowflake beat expectations on revenue, on profit and on guidance, and its shares rose more than 20% after hours. One number in the release went the other way, and it is the one that looks furthest into the future. Remaining performance obligations, th…
SoftBank is seeking a further $10bn loan to fund its OpenAI stake, Bloomberg reported on Friday. It closed a loan of exactly that size, secured against the same asset, 22 days earlier. TNW has not independently verified the report and could not review …
Nvidia reported revenue of $96.2bn for the quarter, up 106% from the same period last year, and then did something it has never done before by guiding a full year ahead. The shares slipped about 1.3% on the release and only turned sharply higher once c…
American securities regulators have subpoenaed the banks that lent Situational Awareness the money it used to make its AI bets. The Securities and Exchange Commission wants the timing of the fund’s trades, and its communications with lenders about the …
Revolut is launching a euro-backed stablecoin, according to Bloomberg, entering a market that European regulation has spent two years accidentally consolidating around a single American issuer.The neobank is also one of the 36 firms the ECB picked for …