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Former Citadel quants raised $78M for the AI operating system Wall Street’s wealth managers didn’t have

Moment, the fintech company founded by a cohort of former Citadel Securities quantitative traders and researchers, has raised $78 million. The round was led by Index Ventures with participation from existing investors Andreessen Horowitz and Avra. The company last raised $36 million in July 2025. Moment builds infrastructure that allows wealth management firms to deploy […]

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AI is killing the cheap smartphone. The memory that powers your phone now goes to data centres instead.

In 1985, the best computer a reasonably affluent American could buy was the IBM PC AT, which cost $19,400 in today’s money. Today, a Tecno Spark Go costs $30 in a Nairobi market stall and runs a processor billions of times faster. No other good in history has experienced a cost decline on that scale. […]

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