Robinhood acquires Bitstamp and Nvidia becomes 2nd most valuable publicly traded company 🦾

HAPPY FRIDAY SCOOPERS 🍦

It’s Friday, which means we made it. Before we let you go, we have some conversation starters for you for the weekend. It’s been an exciting week in tech and you know what that means. We’re back with another hard hitting, scoop delivering, brain busting edition of Product Scoop - the newsletter delivering insights, news, analysis, and an inside view into the world of tech.

Without further ado, here’s your scoop below👇

💰Robinhood acquires crypto exchange Bitstamp for $200M

• Robinhood is expanding its cryptocurrency services with the acquisition of Bitstamp for approximately $200 million, aiming to finalize the deal in the first half of 2025. Known for democratizing stock trading, Robinhood has steadily moved into the crypto market, supporting popular cryptocurrencies like Bitcoin and navigating regulatory challenges. This acquisition not only bolsters Robinhood’s crypto offerings but also strengthens its international presence, following the launch of stock trading in the U.K. and crypto trading in the EU. Read more

🦾 Salesforce to open AI Center in London

• Salesforce is launching an artificial intelligence center in London, signifying its confidence in the U.K. as a leading tech hub. The new 40,000-square-foot facility in the Blue Fin Building will host over 300 people and foster collaboration among tech firms, AI experts, partners, and customers. This center is part of Salesforce's $4 billion investment in the U.K. over five years and aims to contribute to creating 500,000 AI-related jobs in the country. The facility, opening on June 18, will also offer AI training and upskilling programs. Read more

🔥 Nvidia officially passes Apple in market cap

• Nvidia surpassed Apple in market cap on Wednesday, becoming the second-most valuable public company behind Microsoft. Nvidia's market cap reached $3.019 trillion, exceeding Apple's $2.99 trillion, with Microsoft leading at $3.15 trillion. This surge reflects investors' confidence in Nvidia, driven by its dominant 80% market share in AI chips for data centers. Nvidia's data center revenue, which includes GPU sales, soared 427% year-over-year to $22.6 billion, making up 86% of its overall sales. Read more

💳 Spotify increases price of premium plans

• Spotify announced on Monday that it is increasing the prices of its premium subscription plans in the U.S., marking the second price hike within a year for the Swedish music-streaming giant. The new subscription prices will be $11.99 for the Individual Plan, $16.99 for the Duo Plan, $19.99 for the Family Plan, and the Student Plan will remain at $5.99 per month. U.S. Spotify users will be notified about these changes over the next month. This decision aims to support Spotify's ongoing investments in product features and innovation, reflecting its response to the evolving market landscape and its commitment to enhancing its service offerings. Read more