Latest news with #BloombergTechSummit
Yahoo
13-06-2025
- Business
- Yahoo
Uber Eying Crypto For Payments Again. Will It Follow Through This Time?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Uber CEO Dara Khosrowshahi has said that the firm is in 'the study phase' of accepting stablecoins for payments. This is the third time Uber has expressed interest in accepting cryptocurrency payments. While Uber failed to follow through after previous mentions of using cryptocurrencies for payments, there are several reasons to believe that this time could be different. The cryptocurrency adoption train is showing no signs of slowing. Amid the recent wave of attention the industry is receiving under the Trump administration, Uber (NYSE:UBER) has again revealed interest in accepting cryptocurrencies for payments. But will the firm follow through this time? Uber is in 'the study phase' of accepting stablecoins for payments, CEO Dara Khosrowshahi said at the Bloomberg Tech Summit in San Francisco last week. 'I think stablecoin is one of the more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,' he said. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Khosrowshahi particularly highlighted the potential of stablecoins to improve cross-border transactions. 'I do think that stablecoin is quite promising, especially for global companies that are moving money around globally, to create a mechanism for us to essentially reduce costs in terms of moving money internationally,' he said. 'So that's super interesting to us, and we're definitely going to take a look.' This is the third time Uber has expressed interest in accepting cryptocurrency payments. Khosrowshahi said in 2021 that the firm was willing to accept Bitcoin and other cryptocurrencies for payments if it saw a benefit to doing so but dismissed any plans to add these assets to its balance sheet, as Tesla had done at the time. 'Just like we accept all kinds of local currency we are going to look at cryptocurrency and or Bitcoin in terms of currency to transact,' he said. 'If there's a benefit there, if there's a need there we'll do it.' Trending: New to crypto? on Coinbase. Then, in 2022, Khosrowshahi said Uber would 'absolutely' accept cryptocurrencies for payments 'at some point.' But Khosrowshahi pointed to high transaction costs and environmental concerns as constraints. 'We're having conversations all the time,' he said at the time. 'As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.' While Uber failed to follow through after previous mentions of using cryptocurrencies for payments, there are several reasons to believe that this time could be different. First, addressing Khosrowshahi's previously identified concerns, cryptocurrency transaction costs have become increasingly low as blockchains prioritize scalability. This is particularly true for Ethereum, Solana and Tron, the blockchains that are popular for stablecoin transactions. At the same time, with the shift of Bitcoin miners toward renewable energy and Ethereum's transition to proof-of-stake, the carbon footprint of cryptocurrencies is decreasing. Beyond these, Uber is likely to benefit from regulatory clarity, as the Senate is debating a stablecoin bill in its latter stages. Meanwhile, Uber is not the only company considering the adoption of stablecoins. Last week, Fortune reported that Apple (NASDAQ:AAPL), X, Airbnb (NASDAQ:ABNB) and Google are also in talks with cryptocurrency firms to do so. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Uber Eying Crypto For Payments Again. Will It Follow Through This Time? originally appeared on Sign in to access your portfolio
Yahoo
07-06-2025
- Business
- Yahoo
Peloton looks to place equipment in gyms, launch marketplace, TechCrunch says
Peloton (PTON) CEO Peter Stern said the company is exploring ways to expand its customer base by making its products available for use in gyms and launching a peer-to-peer marketplace for equipment, Ivan Mehta of TechCrunch reports, citing comments made by Stern at the Bloomberg Tech Summit. Peloton plans to distribute its machines to commercial gyms via is subsidiary Precor and will add Peloton workouts to compatible Precor equipment. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on PTON: Disclaimer & DisclosureReport an Issue Peloton's Strategic Initiatives and Margin Improvements Justify Buy Rating Peloton Interactive call volume above normal and directionally bullish Peloton's 'Repowered' Marketplace: A Strategic Move to Boost Revenue and Brand Loyalty Repowered: Peloton Stock (NASDAQ:PTON) Ticks Up with New Used Market Peloton price target lowered to $8.50 from $10 at Citi Sign in to access your portfolio
Business Insider
06-06-2025
- Business
- Business Insider
Perplexity AI Reports Explosive Growth as Users Look for Browser Alternatives
Perplexity's AI-powered search engine is growing quickly, with CEO Aravind Srinivas reporting a 20% month-over-month increase and 780 million queries in May, according to TechCrunch. Speaking at the Bloomberg Tech Summit, Srinivas said that the platform could hit 1 billion weekly queries if growth continues. He also argued that internet users are looking for fresh alternatives to legacy browsers like Google's (GOOGL) Chrome, and that integrated search tools in a browser can drive even higher engagement. Confident Investing Starts Here: As a result, the company is preparing to launch Comet, which is a new agentic search engine that can help complete tasks for users. In addition, Srinivas noted on X that Comet will soon include features such as meeting recordings, transcription, and search, although these will not be available in the initial release. Nevertheless, Perplexity is working hard to polish the product, with a release expected in about three to five weeks. It is also worth noting that Perplexity is backed by investors such as Nvidia (NVDA) and Amazon (AMZN) founder Jeff Bezos, and is reportedly closing a funding round that would value it at $14 billion, up from $9 billion in December. Moreover, the search engine recently added a new feature that allows in-chat purchases via PayPal (PYPL) or Venmo. Still, despite Perplexity's growth, Google still dominates the market with about 90% global market share, followed by Microsoft's (MSFT) Bing at around 4%. Which Stock Is the Better Buy? Turning to Wall Street, out of the stocks mentioned above, analysts think that NVDA stock has the most room to run. In fact, NVDA's average price target of $172.36 per share implies more than 21% upside potential. On the other hand, analysts expect the least from MSFT stock, as its average price target of $514.27 equates to a gain of 9.2%.
Yahoo
06-06-2025
- Business
- Yahoo
AI Search Engine Perplexity Gains Traction vs. Google
Perplexity keeps breaking records, clocking 780 million searches in Maya 20% jump from Aprilas CEO Aravind Srinivas told Bloomberg Tech Summit attendees that people are tired of legacy browsers like Chrome. If Perplexity can keep this momentum, Srinivas believes it could hit 1 billion weekly queries soon, thanks to everything happening in its search bar, new-tab page and sidecar interface that drives extra engagement. Warning! GuruFocus has detected 3 Warning Sign with PYPL. The startup, backed by Nvidia (NASDAQ:NVDA) and Jeff Bezos, is also gearing up to launch Comet within three to five weeks. Comet is Perplexitys new agentic search service that does things for youlike record your virtual meetings, transcribe them and let you search what was said. Srinivas admitted building those features has been harder than anticipated, but he says reliability and speed have improved, and everyones working super hard to get the browser out in your hands. Perplexity just added a way to buy products directly in chat via PayPal (NASDAQ:PYPL) or Venmo, hinting at future revenue beyond ads. That matters because Google (NASDAQ:GOOG) still owns about 90% of search trafficand even though Bing sits in second with around 4%, Perplexitys off-the-charts growth and $14 billion valuation (up from $9 billion in December) show investors are betting that a browser-native, AI-first experience could steal user time and queries. Investors should keep an eye on whether Perplexity can sustain these gains once Comet goes live; this summers traffic pick-up and early feedback on Comet will be key gauges. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
AI Search Engine Perplexity Gains Traction vs. Google
Perplexity keeps breaking records, clocking 780 million searches in Maya 20% jump from Aprilas CEO Aravind Srinivas told Bloomberg Tech Summit attendees that people are tired of legacy browsers like Chrome. If Perplexity can keep this momentum, Srinivas believes it could hit 1 billion weekly queries soon, thanks to everything happening in its search bar, new-tab page and sidecar interface that drives extra engagement. Warning! GuruFocus has detected 3 Warning Sign with PYPL. The startup, backed by Nvidia (NASDAQ:NVDA) and Jeff Bezos, is also gearing up to launch Comet within three to five weeks. Comet is Perplexitys new agentic search service that does things for youlike record your virtual meetings, transcribe them and let you search what was said. Srinivas admitted building those features has been harder than anticipated, but he says reliability and speed have improved, and everyones working super hard to get the browser out in your hands. Perplexity just added a way to buy products directly in chat via PayPal (NASDAQ:PYPL) or Venmo, hinting at future revenue beyond ads. That matters because Google (NASDAQ:GOOG) still owns about 90% of search trafficand even though Bing sits in second with around 4%, Perplexitys off-the-charts growth and $14 billion valuation (up from $9 billion in December) show investors are betting that a browser-native, AI-first experience could steal user time and queries. Investors should keep an eye on whether Perplexity can sustain these gains once Comet goes live; this summers traffic pick-up and early feedback on Comet will be key gauges. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
