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AIdriven Lender Lendbuzz Plans IPO, Targets $2 Billion Valuation

The USbased fintech firm Lendbuzz is preparing for an Initial Public Offering IPO that could fetch a valuation of more than $2 billion. The company us

The USbased fintech firm Lendbuzz is preparing for an Initial Public Offering IPO that could fetch a valuation of more than $2 billion. The company uses artificial intelligence to give vehicle loans to those without a credit history. As primary underwriters for the upcoming IPO, Lendbuzz allegedly recruited Goldman Sachs, JPMorgan Chase, RBC Capital Markets, and Mizuho Financial Group. Depending on market circumstances, the business hopes to generate between $300 million and $400 million via the sale of its shares, which might happen in the first half of 2024. Lendbuzz caters to individuals and companies encountering difficulties obtaining funding from conventional lenders. Read More..

B2B Tech News | 2 years ago          

End of an Era Toshiba Delisted from Tokyo Exchange After 74 Years

After 74 years, Toshiba was delisted from the Tokyo market, signalling the end of an era for one of the most wellknown brands in Japan. In a $14 billi

After 74 years, Toshiba was delisted from the Tokyo market, signalling the end of an era for one of the most wellknown brands in Japan. In a $14 billion agreement, a consortium of investors led by Chubu Electric Power, Orix, Rohm, and Japan Industrial Partners JIP is taking the company private. The takeover comes after ten years of unrest, controversies, and conflicts with foreign activist investors. Although the new owners of Toshiba have yet to give the firm a name, it is anticipated that JIP executives will join the board and that the company will concentrate on highmargin digital services. Industry sources speculate that Toshiba could be better off being divided apart. Read More..

B2B Tech News | 2 years ago          

U.S. Officials Seize Blackcat Ransomware Gangs Digital Extortion Websites

Digital extortion websites connected to the "Blackcat" ransomware gang, who are suspected of working with the "Scattered Spider" hacking organisation,

Digital extortion websites connected to the "Blackcat" ransomware gang, who are suspected of working with the "Scattered Spider" hacking organisation, have been confiscated by U.S. investigators. Up to 500 hacking victims may have benefited from the Justice Departments seizure of hundreds of cryptographic keys and multiple websites connected to Blackcat. No arrests or measures taken against Scattered Spider were indicated in the lawsuit. Blackcat and Scattered Spider have caused substantial disruptions and have been involved in highprofile assaults on big corporations. While some analysts see the takedown as a significant victory, others anticipate the hackers will reorganise and even intensify their operations against hospitals and other critical infrastructure providers. Read More..

B2B Tech News | 2 years ago          

Preferred Networks Ramps Up Investment in AI Chips for Critical Hardware Access

Preferred Networks, a Japanese business, is investing more in customised artificial intelligence AI chips to secure hardware access. To power its supe

Preferred Networks, a Japanese business, is investing more in customised artificial intelligence AI chips to secure hardware access. To power its supercomputers, the business, which has backers including Toyota and Fanuc, began creating its firstgeneration AI processor in 2016. TSMC has built and is producing the secondgeneration AI chip, which offers reduced power consumption and optimised performance for AI activities. Preferred Networks intends to give clients pure processing capacity by 2027 and its most recent technologies for massive language models and medication discovery by 2024. This action aligns with a global trend where businesses are trying to create AI chips internally. Read More..

B2B Tech News | 2 years ago          

Rite Aid Settles with FTC, Agrees to FiveYear Ban on Facial Recognition Surveillance

The US Federal Trade Commission FTC and the bankrupt drugstore chain Rite Aid have reached a deal that forbids businesses from using face recognition

The US Federal Trade Commission FTC and the bankrupt drugstore chain Rite Aid have reached a deal that forbids businesses from using face recognition technology for surveillance for the next five years. The FTC accused Rite Aid of injuring customers by using face recognition technology to identify shoplifters between 2012 and 2020. It was discovered that the business had mistakenly marked specific customers as belonging to a person previously accused of shoplifting. Rite Aid claimed it ceased utilising the technology at the stores above more than three years ago. The bankruptcy court in charge of Rite Aids bankruptcy case can approve the deal. Read More..

B2B Tech News | 2 years ago          

Google Takes Precaution Limits AI Responses for Election Queries on Bard and Search

In the leadup to the 2024 U.S. Presidential election, Alphabets Google said it would limit the kinds of electionrelated searches for which its chatbot

In the leadup to the 2024 U.S. Presidential election, Alphabets Google said it would limit the kinds of electionrelated searches for which its chatbot Bard and search generative experience can provide answers. Early in 2024 is when the limitations are anticipated to go into effect. Google intends to work with a greater emphasis on the potential use of artificial intelligence AI to support campaigns and voters in future global elections. This action aligns with continuing initiatives by tech companies to address issues with the propagation of false information and the application of AI in political situations. In November 2023, Meta, the company that owns Facebook, also put limits on the use of AI in political advertising. Read More..

B2B Tech News | 2 years ago          

First Comprehensive Trade Deal Since 2016 Kenya and EU Sign Economic Partnership Agreement

The Economic Partnership Agreement between Kenya and the European Union is the first comprehensive trade agreement between the EU and an African count

The Economic Partnership Agreement between Kenya and the European Union is the first comprehensive trade agreement between the EU and an African country since 2016. Under the deal, Kenya could enter the EU dutyfree and quotafree, while European goods would see gradual tariff reductions. The agreement contains pledges to promote sustainable growth in areas like environmental preservation and worker rights. It is the "most ambitious economic partnership" the EU has ever had with a developing nation. The agreement must be ratified by both parliaments to be implemented. The EU invites more East African countries to join, viewing the deal as a winwin situation. Read More..

B2B Tech News | 2 years ago          

Alteryx to Be Acquired by Clearlake Capital and Insight Partners in $4.4 Billion Deal

The data analytics platform Alteryx has agreed to be bought by Clearlake Capital Group and Insight Partners, two private equity companies, for a total

The data analytics platform Alteryx has agreed to be bought by Clearlake Capital Group and Insight Partners, two private equity companies, for a total estimated deal value of $4.4 billion, including debt. The purchase of Alteryx occurred because the company was targeted for acquisition due to intense rivalry from bigger competitors such as Microsoft and Oracle, which affected its valuation. Cash payments to Alteryx investors will be $48.25 per share, 29.1% more than the companys most recent closing share price. The purchase intends to put Alteryx in a position to develop and expand under new management. Read More..

B2B Tech News | 2 years ago          



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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