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Trump Media Partners With Crypto.com To Launch ETFs On Truth.Fi

Trump Media & Technology Group, the media corporation owned by President Donald Trump, announced on Monday that it is collaborating with Crypto.com to introduce exchange-traded funds and products under the Truth.Fi brand.

TakeAway Points:

  • President Donald Trump’s media company Trump Media & Technology Group said it is partnering with Crypto.com to launch exchange-traded funds and products through its Truth.Fi brand.
  • Shares of the company, which operates social media platform Truth Social, rose 10.5% after the bell on Monday.
  • Tesla announced on Monday that it will launch its smart driving-assistance function in China once regulatory approval was complete.

ETFs on Truth.Fi

Shares of the company, which operates social media platform Truth Social, rose 10.5% after the bell on Monday, but have fallen 38% in the last 12 months.

The ETFs, which will be available through Crypto.com’s broker-dealer Foris Capital, will include digital assets as well as securities with a “Made in America focus” across various industries, according to a statement.

The funds are planned to be launched later this year and will be available internationally, including the U.S., Europe and Asia.

Crypto.com will provide backend technology, custody and cryptocurrencies such as Bitcoin and Cronos for the ETFs.

Trump Media announced the launch of its financial services and FinTech brand Truth.Fi in January, amid a crypto boom.

Its board had also authorized an investment of up to $250 million through Charles Schwab as it seeks to diversify its cash holdings, which exceeded $700 million at the close of the previous year.

Trump Media had said it plans to allocate these funds into various investment options, including ETFs, separately managed accounts and cryptocurrencies.

In February, Trump Media said it has applied to trademark six investment products that track bitcoin and the U.S. manufacturing and energy sectors.

The trademarks include Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF and Truth.Fi U.S. Energy Independence ETF.

Tesla halts driving-assistance software trial in China

Tesla said on Monday it would release its smart driving-assistance feature in China after completing regulatory approval, following complaints that a limited-time free trial of its Full Self-Driving service had been temporarily paused.

“All parties are actively advancing the relevant process and we will push it to you as soon as it is ready. We are also looking forward to it, please wait patiently,” Tesla’s customer support said on social media platform Weibo.

The message was posted as a comment under a feed of Tesla vice president Grace Tao’s Weibo account.

The company said last Monday that it would launch the free trial of its FSD service in China between March 17 and April 16.

FSD is a suite of driving-assistance technologies developed with generative artificial intelligence to cope with more complicated traffic conditions.

Tesla is aiming for a full roll out of FSD this year, and is working with Chinese tech giant Baidu to improve the performance of the system, Reuters previously reported.

Tesla has offered such trials in the United States, where its FSD system does not require navigation maps to be accurate or up-to-date because local training of the AI helps the technology drive better.

But in China, Tesla has been unable to train the system with data from its 2 million EVs because of the country’s data laws.

In late February, China’s industry ministry issued new rules requiring autonomous driving-related over-the-air software upgrades to be subject to regulatory approval.







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China’s Xiaomi Raises $5.5 Billion In Share Sale

China’s Xiaomi Corp announced on Tuesday that it had collected $5.5 billion through a larger share offering as it continues to pursue its ambitious goals for the production of electric vehicles.

TakeAway Points:

  • At HK$53.25 a share, Xiaomi is selling 800 million shares.
  • The deal was expanded from the selling of 750 million shares.
  • The final price is 6.6% less than the stock closing on Monday.
  • PsiQuantum, a firm in quantum computing, is seeking at least $750 million at a pre-money valuation of $6 billion.

Xiaomi is selling 800 million shares

The company sold 800 million shares at HK$53.25 each, the company said in its statement to the Hong Kong Stock Exchange.

Xiaomi, the world’s third-largest smartphone maker which moved into electric vehicle manufacturing last year, had planned to sell 750 million shares but increased the size of the deal while the bookbuilding process was underway.

The final price was towards the bottom end of the HK$52.80 to HK$54.60 price range flagged to investors when the deal launched on Monday.

The price was a 6.6% discount to Xiaomi’s closing price of HK$57 on Monday. Xiaomi said the money raised would be used to fund the acceleration of its business expansion, research and technology development.

Xiaomi began manufacturing EVs last year with the launch of the SU7 sedan after selling smartphones, household appliances and smart gadgets for most of its 15-year history.

Xiaomi reported last week an almost 50% jump in fourth-quarter revenue and raised its target for electric vehicle deliveries this year to 350,000 from 300,000.

It reported 32.1 billion yuan ($4.4 billion) in revenue for its EV business in 2024, delivering more than 135,000 SU7 sedans. Xiaomi said the company aimed to start shipping cars overseas in 2027.

The tech firm has purchased a new land plot of 52 hectares (128.5 acres) in Beijing’s south, where it would build the third phase of its auto factory as it ramps up annual shipment target, Chinese media has reported.

Xiaomi will invest a quarter about 7-8 billion yuan out of its 2025 total research and development budget of 30 billion yuan into AI, Xiaomi President Lu Weibing said last week.

Xiaomi’s deal extends a rush of tech-focused capital raisings from Chinese firms in Hong Kong, as companies take advantage of positive sentiment towards the tech sector.

A summit led by President Xi Jinping with top tech leaders last month was widely seen as a sign that strict government scrutiny of the sector which began in 2020 was easing.

Before Xiaomi’s share sale, Chinese firms had carried out $16.8 billion worth of equity capital market activity in the first quarter, according to LSEG data, more than double the same period last year.

Quantum computing startup PsiQuantum raising at least $750 million

Quantum computing startup PsiQuantum is raising at least $750 million at a $6 billion pre-money valuation, according to two people familiar with the matter.

BlackRock is leading the fundraising effort, which has not yet been completed, one of the people said.

Unlike some quantum computing startups using exotic materials, PsiQuantum is aiming to modify traditional manufacturing techniques from the semiconductor industry. The company uses existing photonics technology – the same kind of chipmaking used to make the fiber-optic connections for internet communications – at a factory run by GlobalFoundries in New York, saying it plans to make millions of quantum chips.

Scaling up those plans to make a high volume of quantum computing processors is a costly, complex endeavor and requires fundraising, one of the people said.

Startups and major tech firms alike are chasing quantum computing, which can solve complex problems that would take conventional computers thousands or millions of years, such as predicting how atoms and molecules will interact. Scientists hope to use quantum machines to develop new materials for batteries and new drugs.

New quantum computing chips

In recent months, Alphabet’s Google, Microsoft and Amazon have all unveiled new quantum computing chips. Last week, Nvidia, the world’s biggest chip firm, said that it will establish a quantum computing research center in Boston.

PsiQuantum is working with the governments in Australia and the United States to build two quantum computers in the coming years – one in Brisbane, Australia, and the other in Chicago.

Quantum computers have been around for decades but have produced too many errors to be more useful than conventional computers. In recent years, companies have made advances in making better quantum chips and correcting those errors, with PsiQuantum saying it believes it will have a useful machine by 2029 or sooner and Google saying earlier this year that it will have useful quantum applications within five years.







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Understanding AI-powered Stylists: Benefits and Use Cases

Modern retail consumers are overwhelmed with many choices and do not have enough time to go through them. Businesses find it difficult to expose their product line to potential customers because of these factors. It often leads to decreased conversion rates and revenue. Moreover, the increasing demand for personalized experiences by customers is further adding to the challenge.

Artificial intelligence, which is revolutionizing the way businesses fulfill their consumers’ needs, can offer a solution to these challenges as well, i.e., AI-powered stylists. According to a report, the global AI stylist market is expected to grow by 38.3% between 2024 and 2031. This growth is due to their potential to ease customers’ search efforts while personalizing their shopping experience. 

AI-powered personal stylists enable companies in the retail industry to provide unique buying experiences, improve conversion rates, and increase a customer’s AOV.

What are AI-powered Stylists?

Shoppers often struggle to discover products that complement each other. The inability to visualize how products come together in real-time can make customers abandon their carts. AI stylists can overcome this issue by intelligently designing product bundles and allowing customers to see them in real-time.

AI-powered stylists go one step further, offering simple recommendations to build full product bundles according to the customers’ preferences. Unlike traditional product suggestions that rely on customers’ current product interests, these solutions analyze their past behaviors to create bundle recommendations automatically. Customers’ previous purchases, spending habits, and browsing history are analyzed to provide personalized product suggestions that resonate with users’ interests.

These AI-powered personal stylists also leverage machine learning algorithms, market trend analysis, and product preferences to create ensembles that have a better probability of increasing conversion rates. NLP complements the effectiveness of an AI stylist by providing ongoing refinements of its recommendations based on real-time crowd-sourced intelligence.

These functionalities of AI-powered stylists provide various benefits to both customers and retailers.

How Can AI Stylists Benefit Retailers?

AI-powered personal stylists enable retailers to transform the way they engage with their customers. With hyper-personalized styling suggestions, they can reduce shoppers’ time to search for complementary products and boost their satisfaction. 

Similarly, AI stylists can provide retailers with many benefits beyond increased conversions and revenue. 

The ability to analyze customer preferences enables AI-powered personal stylists to create personalized looks specific to every individual. This improves the chances of conversions and customer loyalty. Machine learning algorithms further enrich this approach and enable AI stylists to learn from evolving customer behavior.

  • Enhanced Marketing Campaigns

It is possible to put ensembles generated using AI stylists into retailers’ marketing strategies to enhance engagement rates. Such methods include email marketing for abandoned shopping carts, follow-up shopping cart interaction, and social media advertising campaigns. Contextually meaningful and aesthetically appealing recommendations lead to an increase in retention and conversion potential.

  • Increase in Average Order Value (AOV)

AI stylists help businesses capture target customers and increase the AOV. Retail companies can easily entice shoppers to continue shopping by offering product bundles that complement their primary purchase. AI-powered stylists can further enhance upselling and cross-selling strategies that can support increasing sales revenue.

AI-powered stylists can analyze a huge amount of SKUs and create several product combinations. This enables businesses to eliminate the need for large merchandising teams and scale easily with seasonal inventory changes, new collections, and expanding product lines.

AI-powered stylists can sort through vast numbers of SKUs and generate various product combinations. This allows businesses to reduce the requirement for merchandising teams and easily expand in response to seasonal replenishment, new arrivals, and product portfolio growth.

  • Stay Aligned with Current Trends

Machine learning algorithms provide insights about market trends and customer behavior to AI-powered stylists. Retailers can use this information to adapt to the changing preferences quickly. This also helps ensure that their ensembles are relevant to individual users. Providing customers with trending recommendations can improve their engagement with the brand.

AI-powered Personal Stylist: Use Cases

AI-powered stylists can create personalized ensembles by analyzing product affinities and industry trends. This applies to several use cases across industries. 

  • Theme-based Fashion Collections

Businesses in the fashion industry can make use of AI stylists to provide an experience similar to an in-store assistant. It can help customers to achieve their desired dressing style based on their fashion sense.

For instance, retailers can build collections in bohemian or minimalist styles. This product set includes pants, shoes, and several other accessories. It allows customers to shop for an entire outfit without intensive searching.

AI-powered personal stylists can assist home decor customers in multiple ways. One of them is completing the look of a room. They can assist customers by providing furniture required for a specific room, like bedrooms or living rooms. They can also further personalize these suggestions based on the customer’s room color and material preferences. This simplifies decision-making while driving higher revenue.

  • Skin Type-based Collections

The beauty and wellness industry can use AI stylists to create personalized product bundles based on customers’ various preferences. These include their skin type, makeup goals, hair problems, and much more. For example, if the customer has oily skin, retailers can bundle several products to help them clear this problem.

Bottom Line

AI-powered personal stylists are reshaping the retail industry by enabling them to deliver hyper-personalized customer experiences. Across industries, they improve the consumer shopping experience and generate higher business revenues. However, the success of these product bundles depends on the degree of how relevant they are to the customers’ needs.

Although AI automates the bundle creation pipeline, companies need to optimize them regularly based on how well they are performing. As a result, they can be guaranteed the success of these product bundles and their ability to generate income. With the retail sector increasingly becoming competitive, leveraging AI-based stylists sooner rather than later can help companies create a loyal customer base and maintain a competitive advantage.







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