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Finance

139.99 billion flowed into fintech; H2 battlefield is infrastructure and AI

Global fintech investment in the second half is expected to concentrate on stablecoin and digital-asset infrastructure, AI and agent commerce, an outlook said. Funding is likely to shift toward companies that have proven profitability and scalability, rather than simple technology experiments. KPMG named financial infrastructure as a key focus, citing expanding stablecoins and tokenised assets and demand to modernise legacy core systems at traditional financial institutions. Large payment-sector M&A is also expected to continue.

Crypto

Digital Asset raises additional $10 million from Shinhan Financial, SC Ventures

Digital Asset, developer of the Canton blockchain, has raised an additional $10 million from South Korea’s Shinhan Financial Group and Standard Chartered’s SC Ventures. TheBlock reported the investment increased the company’s ongoing funding round to $365 million from $355 million, at the same $2 billion valuation as the previous round. Digital Asset last month announced a $355 million fundraising led by a16z crypto with participation from major institutions.

AI & Enterprise

IBM shares plunge as AI investment boom triggers record drop

IBM shares tumbled on July 14, posting their biggest one-day fall as the company warned that weak second-quarter results reflected a shift in corporate IT budgets toward AI infrastructure and cybersecurity. IBM said sales of its mainframes and related software were under pressure as customers increased spending on memory chips, servers and storage ahead of price rises. IBM reported second-quarter revenue of $17.2 billion, up 1 percent year on year, below expectations, while infrastructure revenue fell 7 percent.