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AI & Enterprise

Stripe, Advent scrap $53 billion PayPal takeover plan

Payments firm Stripe and private equity firm Advent International have stopped pursuing an acquisition of PayPal, Bloomberg reported on Aug. 27 local time. Axios also confirmed the move, it said. Stripe and Advent had been seeking a $53 billion deal for PayPal, which could have been the largest fintech merger and acquisition transaction if completed. PayPal shares closed at $61.47 on Thursday, above the offered $60.50 per share.

AI & Enterprise

Waymo vice president says AI alone cannot find a shortcut to self-driving

Waymo has concluded it cannot find a shortcut to self-driving through advances in AI alone, Axios reported on Aug. 26. Waymo has logged more than 200 million miles of driverless driving over 15 years, but said data and model performance alone do not solve autonomous driving. Vice President Srikanth Sirumala said safer large-scale deployment needs more than better AI and argued sensors and high-definition maps remain necessary.

AI & Enterprise

OpenAI, Anthropic, Microsoft and more than 100 firms issue joint letter on AI cyber defence

More than 100 companies including OpenAI, Anthropic, Amazon Web Services and Microsoft warned there may be only months left to prepare for AI-driven cyberattacks, Axios reported. In an open letter, the firms said AI is making sophisticated hacking cheaper and easier, exposing hospitals and water treatment plants to threats. They urged coordinated action to protect critical infrastructure, tighten security standards, share threat intelligence and expand government support, but offered no specific commitments or deadlines.