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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Artificial Intelligence : “We Must Not Allow AI To Determine The Outcome Of A Case” – Chief Justice Of India
Hon’ble the Chief Justice of India, Mr. Justice Sharad Arvind Bobde, says that while AI can provide assistance and information for the evaluation of the merits of a case, it cannot replace the element of human decision-making in a judicial system.
Alternative Investments/Digital: CoinShares Launches XRP ETP On SIX Swiss Exchange
CoinShares, the largest digital asset manager in Europe, announced the launch of CoinShares Physical XRP (XRPL), its latest exchange-traded product (ETP). XRPL provides investors exposure to the XRP cryptocurrency and the native token unit of the Ripple network. Each unit of XRPL is physically backed at launch by 40.0 XRP.
Digital Assets: AXA Allows Customers To Pay Bills With Bitcoin
AXA has become the first all-lines insurer in Switzerland to accept payments from customers in bitcoin. The company’s decision stems from a 2019 survey of people between the ages of 18 to 55 and their views on cryptocurrencies. AXA (EPA: CS) found that about a third of respondents already owned them or intended to do so. That trend received a fillip from the digital transformation propelled by the pandemic.
Venture Capital: Clearcover, The Digital Car Insurer, Scores $200M Funding
Clearcover, a startup selling car insurance digitally, has raised $ 200 million in a Series D funding round led by Eldridge, with participation from existing investors American Family Ventures, Cox Enterprises, OMERS Ventures, as well as other new investors.
Alternative Investments/ESG: Global X Launches AQWA – A Clean Water ETF
Global X has launched the Global X Clean Water ETF (NASDAQ: AQWA). The new ETF adds to Global X’s Thematic Growth family of 27 ETFs with AUM of more than $16 billion. Thematic Growth ETFs target companies across the globe driving long-term, paradigm-shifting themes.
Fintech: German Challenger Bank N26 Wants To Move Insurers’ Cheese
Berlin-based neobank N26 announced today its offering of smartphone insurance in collaboration with Simplesurance. Offered for the time being only in Germany, the product allows users to buy insurance, initiate claims and manage plans for their smartphones.
Artificial Intelligence: Leaked EU Draft Shows Strict Proposals Against Misuse Of AI
A draft set of proposals obtained by Bloomberg shows that the EU could fine AI and tech companies as much as 4% of global revenue if they fall foul of the EU’s new norms for the use of AI. Further, these proposals include a ban on AI-powered mass surveillance or systems that rank social behavior.
Digital Assets: CoinBase Debut – Crypto’s “Watershed” Moment
The much-awaited day of Coinbase’s listing is finally upon us. Trading in COIN, the ticker symbol assigned to Coinbase, is yet to commence. However, CNBC reported that the shares in the crypto exchange, which are to be directly listed, are likely to open at about $360 per share, though Nasdaq provided a reference price of $250 on Tuesday.
Venture Capital: Scale AI Scores $325M Series E Round At A $7.3B Valuation
Scale AI announced Tuesday its raise of $325 million in a Series E funding co-led by Dragoneer, Greenoaks Capital, and Tiger Global. New investors in the round included Wellington Management and Durable Capital as well as existing investors Coatue, Index, Founders Fund, and YC.
FinTech: Checkout.com Launches Payouts Product For Real-Time Direct Payments To Cards And Bank Accounts
Checkout.com, the payment solutions provider announced the launch of its Payouts Product that enables merchants to make real-time payments to billions of cards and bank accounts globally – through just a single technical API integration with Checkout.com.
Artificial Intelligence: China’s Media Censorship Could Get An AI Edge
China’s huge censorship machinery could get a dramatic leg up from new research that has developed an AI-powered text censor to delete objectionable material on the Internet with very high accuracy.
Liquid Alternatives: The Wilshire Liquid Alternative Index Returns 0.97% In March
The Wilshire index provides a representative baseline for the performance of the broader liquid alternatives space. According to Wilshire Associates, the index aims “to deliver precise market measures for the performance of diversified liquid alternative investment strategies implemented through mutual fund structures, backed by a proprietary classification methodology.”
Digital Assets: TIME Magazine To Hold Bitcoin On Its Balance Sheet
TIME Magazine, which launched in 1923 and is in the midst of a digital transformation, has embraced bitcoin in a big way. According to a tweet by Michael Sonnenshein, the CEO of Grayscale Investments, TIME will hold bitcoin on its balance sheet.
Venture Capital: SoftBank Vision 2 Leads $676M Round In SambaNova Systems
SambaNova Systems, a startup that builds AI hardware and chips and offers a systems platform to run AI applications, announced today its Series D raise of $676 million in a round led by SoftBank Vision Fund 2. The round valued SambaNova at more than $5 billion and the company’s aggregate funding to more than $1 billion.
Artificial Intelligence: How AI Makes Waste Management Forecasts Easier
Cities across the world are grappling with the problem of finding landfill sites and new land as solid waste tonnage rises with population and economic growth. How does one forecast, over the long term, solid waste volumes and landfill requirements? AI could be the answer to the problem.
FinTech: Financial And Ride-Hailing Giant Grab Agrees $39.6B SPAC Merger
Grab, the Southeast Asian giant that straddles ride-hailing, online food delivery, and digital wallet payments in the region through a super app, has agreed to go public in the U.S. through a SPAC transaction. The SoftBank-backed startup will merge with Altimeter Growth Corp. (NASDAQ: AGC) and thereafter trade on the NASDAQ with the ticker GRAB.
Digital Assets: MicroStrategy To Pay Directors In Bitcoin
In a unique plug for bitcoin’s adoption, MicroStrategy (NASDAQ: MSTR), the business information firm, has decided to pay its non-employee directors in bitcoin. The company has been a trendsetter, setting aside millions of dollars from its reserves to invest in bitcoin. Now its directors will get bitcoin in lieu of their services.
Alternative Investments/Digital: Yet Another Bitcoin ETF Application; Galaxy Digital Is The Latest Hopeful
Galaxy Digital, the cryptocurrency investment firm led by Mike Novogratz, has filed an application with the SEC to launch a bitcoin ETF that will trade on the NYSE Arca. The preliminary prospectus states that “the trust provides direct exposure to bitcoin. The shares are valued on a daily basis based on data from bitcoin pricing sources.”
Artificial Intelligence: Microsoft Eyeing Acquisition of Nuance Communications (Bloomberg)
Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The price represents a premium of 23% over the Friday closing of Nuance of $45.58.
Venture Capital: Supervest, A Platform That Matches Loan-Seeking Merchants With Investors, Is Seeking Funds
Supervest calls it a new asset class. Merchant cash advances (MCA) are a form of short-term financing for merchants in the form of a sales agreement in which capital is exchanged for a proportion of future sales. Typically, an MCA is availed by small businesses or startups that need to receive a large amount of money quickly with minimal strings attached. Supervest is a platform where accredited investors and individuals can invest in the high-yielding MCA space.
FinTech: Saudi Arabia Could Add $293B To Its GDP Using Intelligent Automation
A new report by EY and Automation Anywhere titled “Saudi Arabia: showing the way to the world,” says Saudi Arabia’s use of intelligent automation could double the size of its economy to $1.6 trillion, adding an additional $293 billion by 2030. A combination of AI and Robotic Process Automation (RPA), intelligent automation could make huge strides in the improvement of technology-led productivity.
Digital Assets: NYDIG To Create Bitcoin-Powered Products For The $6T Insurance Industry
New York Digital Investment Group (NYDIG) announced Thursday its raise of $100 million as additional growth capital from strategic insurance partners including property and casualty (P&C)-focused insurers Starr Insurance, Liberty Mutual Insurance, and other P&C insurers. NYDIG already partners with life insurance and annuity-focused strategic partners New York Life and MassMutual.
Alternative Investments/ESG: BlackRock’s New ESG ETF Rakes In A Record $1.25B On Launch
The BlackRock US Carbon Transition Readiness ETF (LCTU), which began trading on Thursday, won the crown for being the largest ETF launch ever, drawing investments of $1.25 billion from institutional investors. BlackRock also launched the BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) alongside the US ETF. This ETF attracted $475 million in investments.
FinTech: German Lending Platform auxmoney Gets €250 Million From Citigroup And Chenavari Investment Managers
Auxmoney, a Germany-based loans marketplace, received €250 million for loans from Citigroup and Chenavari Investment Managers, a credit-focused asset manager. The two companies are partnering with auxmoney, a primarily consumer-oriented lender, for lending on its marketplace. For the first time, auxmoney will also co-invest alongside these partners.