EdTech Insight – BlackRock-backed fintech Trustly says IPO still at least one year out even as profits jump 51%

by EdTechMate | May 30, 2024 | CNBC, News & Insights

Executive Summary and Main Points Swedish fintech startup Trustly, specializing in open banking technologies, is delaying its initial public offering (IPO) despite a 51% rise in operating profit and substantial revenue gains, with $265 million reported for the 2023...

EdTech Insight – Google to invest $2 billion in Malaysia and build data center to capture rising AI demand

by EdTechMate | May 30, 2024 | CNBC, News & Insights

Executive Summary and Main Points The technology sector is witnessing significant financial impetus with Google and Microsoft’s burgeoning investments in Southeast Asia, notably Malaysia. Google has earmarked $2 billion for the development of its first data...

EdTech Insight – Singapore pushes for green data centers as growing AI demand strains energy resources

by EdTechMate | May 30, 2024 | CNBC, News & Insights

Executive Summary and Main Points The burgeoning AI sector has considerably increased the demand for data centers, leading to significant energy consumption challenges. Singapore has launched an ambitious green data center roadmap to combat this issue. The strategy...

EdTech Insight – UiPath shares tank 30% after company announces CEO shakeup

by EdTechMate | May 29, 2024 | CNBC, News & Insights

Executive Summary and Main Points In a significant organizational shift, UiPath Inc., a prominent player in automation software specializing in AI-driven task automation, witnessed a steep decline in its share value following the resignation announcement of CEO Rob...

EdTech Insight – Salesforce shares plunge 17% on first revenue miss since 2006

by EdTechMate | May 29, 2024 | CNBC, News & Insights

Executive Summary and Main Points The latest news from Salesforce, a leading cloud software vendor, has unveiled significant trends in the techno-corporate domain, primarily focusing on digital transformation within the realm of Artificial Intelligence (AI). Despite...

EdTech Insight – Former OpenAI board member explains why CEO Sam Altman got fired before he was rehired

by EdTechMate | May 29, 2024 | CNBC, News & Insights

Executive Summary and Main Points In recent developments at OpenAI, former board member Helen Toner provided insight into the corporate governance issues leading to the temporary ouster of CEO Sam Altman. The lack of transparency and alleged misinformation surrounding...