Lending Club announced Tuesday it was acquiring a small, Boston-area bank in a bid to get government approval to become a bank—but the fintech company has a long slog ahead before the deal could go through. The proposed $185 million acquisition of Radius Bank would lower capital costs for Lending Club, according to an announcement by the San Francisco lender. However, the deal requires...
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Pro Weekly: Generative AI Spurs Cloud Demand—and Competition
Welcome back!To help readers track the frenzy around generative artificial intelligence, we launched The Information's Generative AI Database, listing 39 startups that make AI models or build services on top of them. Together, those companies have raised more than $15 billion from more than 50 investors.OpenAI, whose ChatGPT fueled the generative AI craze, has seen the bulk of that haul,...
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