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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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Liquid Alternatives: “Create Interesting Revenue Streams Without Locking Up Money For Ten Years”
Though many liquid alternative strategies have disappointed in recent times, investors can nevertheless create “interesting revenue streams” by combining various strategies. This they can achieve without locking their money up for up to 10 years, says Patrick Ghali, co-founder at hedge fund advisory Sussex Partners.
Digital Assets: South Korean Central Banker Engages In Bitcoin Bashing
Bank of Korea Governor Lee Ju-yeol, when speaking at a parliamentary session on Wednesday, said crypto-assets such as bitcoin had no intrinsic value and were victim to highly volatile price swings.
Digital Assets: Corporates Buy More Bitcoin – MicroStrategy $1B; Square $170M
MicroStrategy describes bitcoin as “a dependable store of value.”
In an announcement today, MicroStrategy (NASDAQ: MSTR) said it had invested an additional $1.026 billion in the purchase of 19,452 bitcoins at an average price of $52,765 per bitcoin. The company said it now held 90,531 bitcoin at an average cost of $23,985 per bitcoin, worth in total about $2.17 billion.
Venture Capital: Klarna’s Funding Binge On Course For A $1B Raise
Bloomberg reports that Klarna Bank AB, the Swedish fintech startup that was valued at $10.65 billion in September, may raise another $1 billion. But this time its valuation could be as much as $31 billion – nearly thrice its valuation from just six months ago.
FinTech: Tyme Raises $110M For Its Bank In South Africa, ASEAN Expansion
Tyme has partnered with JG Summit to Launch Digital Bank for the Philippines. Digital banking network Tyme announced Tuesday its raise of $110 million from new investors Apis Growth Fund II, a private equity fund managed by Apis Partners, and the Gokongwei-led JG Summit Holdings of the Philippines. South African focus Tyme said its primary…
Artificial Intelligence: Former Google CEO Schmidt Sounds The Alarm On China’s Prowess In AI
Eric Schmidt, who was CEO of Google (NASDAQ: GOOGL) from 2001 through 2011, warned Tuesday that the United States is “one or two years ahead of China, not five or 10” and “the Chinese are well ahead in areas like face recognition.” He was speaking at a hearing held by the Senate Armed Services Committee on emerging technologies and their impact on national security.
Alternative Investments/ESG: VanEck’s Vectors Global Clean Energy ETF Soon To Debut On ASX
VanEck is in the final stages of prepping the Vectors Global Clean Energy ETF (ASX: CLNE) for launch on the Australian Securities Exchange (ASX) in the ensuing weeks. The ETF will focus on the clean energy sector, which is expected to benefit from President Biden’s commitment to the climate agreement.
Alternative Investments/ESG: New ETF From UBS For Exposure To Swiss Equity + ESG
UBS launches the UBS SPI ESG ETF (SPISI SW). The new ETF from UBS Asset Management provides broad exposure to the Swiss equity market with an additional focus on ESG factors. The ETF has listed on the SIX Swiss Exchange.
Digital Assets: German-Listed Crypto Mining Company Northern Data To Float U.S. IPO
Northern Data AG (ETR: NB2) is a high performance computing (HPC) company providing solutions for AI and blockchain including crypto mining. At its data center in Texas, it operates HPC applications in blockchain such as bitcoin mining for large corporations. According to Bloomberg, the company is mulling a $500 million IPO in the U.S.
Venture Capital: Zomato’s Pre-IPO Raise Nabs $250M At $5.4B Valuation
Indian foodtech unicorn Zomato reeled in $250 million in a pre-IPO fundraise from new and existing investors. The startup’s IPO is slated for June this year. The round was led by Kora Management, which invested $115 million. Other existing investors were Fidelity Management and Research ($55 million) and Tiger Global Management ($50 million). New investors, Bow Wave Capital and Dragoneer Investment Group invested about $20 million and $10 million, respectively.
FinTech: Mastercard And Island Pay Debut A Card Linked To The Bahamas CBDC
Bahamians can now have the Bahamas Sand Dollar, the country’s CBDC, loaded onto a prepaid card issued by Island Pay in partnership with Mastercard (NYSE: MA). They can also use the card at any outlet in the Bahamas that accepts Mastercard and pay for their purchases by instantly converting their Sand Dollars to the traditional Bahamian dollars. The Sand Dollar and Bahamian Dollars are convertible on a 1:1 basis.
Artificial Intelligence: Fugaku, The World’s Fastest SuperComputer Predicts Tsunami Flooding
A tsunami warning system using dart buoys was badly off the mark when a tsunami struck Japan’s eastern coast a decade ago. A deadly 9.0 magnitude earthquake triggered the tsunami wave, which was as high as 50 meters in some places. Tragically, the buoy system estimated the wave size at only 3 meters. When it struck, the monster wave caused over 20,000 lives. However, Fujitsu (TYO: 6702) Labs used AI and a supercomputer to develop a more reliable system.
Digital Assets: Sweden’s Finansinspektionen Warns on Cryptos; Yellen Pans Bitcoin
Finansinspektionen (FI) was established in 1991 to create a single integrated regulator covering banking, securities, and insurance in Sweden. As the country’s financial supervisory authority, it issued a warning today on the risks surrounding purchases of financial instruments with bitcoin or other crypto-assets as an underlying asset.
Venture Capital: Renowned VC 500 Startups Makes Saudi Foray
500 Startups, which has backed more than 2,500 companies in 78 countries, spanning almost every continent, is making landfall in Saudi Arabia. The renowned VC firm has partnered with Saudi financial services firm Sanabil Investments for the launch of a seed accelerator program in Riyadh. 500 Startups recently set up its new MENA regional headquarters in Riyadh.
Alternative Investments/Digital: Tesla’s Bitcoin Foray Earned It $1B
According to Daniel Ives, an analyst at Wedbush Securities, Tesla (NASDAQ: TSLA) may end up making more money from its investment in bitcoin than from the sale of its EVs cars in all of 2020. The company is already sitting on unrealized profits of approximately $1 billion from its $1.5 billion investment in bitcoin.
FinTech: Brex, The Fintech For Startups, Applies For Banking License
Fintech Brex, which is backed by Kleiner Perkins Growth, YC Continuity Fund, Greenoaks Capital, Ribbit Capital, IVP, DST Global, as well as investors like Peter Thiel and Max Levchin, has filed for a bank charter.
Artificial Intelligence: After Gebru, Google Terminates Another AI Researcher
Margaret Mitchell, an AI researcher and a leader of Google’s (NASDAQ: GOOGL) Ethical AI team, was terminated by the company after a suspension that commenced last month. Dr Mitchell said in a tweet on Friday afternoon: “I’m fired.”
Venture Capital: Locus Robotics Turns Unicorn With $150M Series E Round
Locus Robotics, which provides robotic solutions for automating warehouses, raised $150 million in a Series E round led by Tiger Global Management and BOND. Scale Venture Partners and Prologis Ventures, the venture capital arm of Prologis, the global logistics real estate company, also participated. The round valued Locus at $1 billion, granting the startup the coveted unicorn status.
Digital Assets: MicroStrategy Raises $1B; BTC Hits New High; BTC’s Market Cap Over $1T
MicroStrategy (NASDAQ: MSTR), the business information company that has recently become a cheerleader for corporate investing in bitcoin, announced today the closing of its offering of 0% convertible senior notes, due 2027, of an aggregate principal amount of $1.05 billion. The company said it will use the proceeds, which the markets are describing as “free money,” to buy additional bitcoin.
FinTech: Stripe’s $115B Valuation Is “Nuts” But “Not Utterly Insane”
Stripe, the payments processing company that Irish brothers Patrick and John Collison founded in 2010, has tripled its valuation in the space of the last 10 months. A Forbes report said transactions in the secondary market of the private fintech giant’s shares now value it at $115 billion, more than 3X the $36 billion valuation it garnered in an April 2020 funding raise.
Artificial Intelligence: AI To Log Fishing Effort In Oregon
How do you estimate and account for how much fishing – recreational or commercial – is actually going on in your friendly neighborhood ocean? That information is central to measuring catch and ultimately, the sustainability of the fish and marine life in the water body. The EDF launched today its SmartPass fishery monitoring system that combines the use of shore-based cameras, AI, and automated image analysis to monitor fishing effort.
Liquid Alternatives: The Wilshire Liquid Alternative Index Returns 0.01% in January
The Wilshire Liquid Alternative Index Returns 0.01% in January. This figure outperformed the -0.16% return from the HFRX Global Hedge Fund Index in the month of January. The Wilshire index provides a representative baseline for the performance of the broader liquid alternatives space.
Digital Assets: Kia Motors Facing $20M Ransomware Demand
On Tuesday, Bleeping Computer reported that Kia Motors USA was experiencing a nationwide outage that affected its servers, dealer platforms, and phone support services. The size and scope of the dislocation led Bleeping Computer to speculate that “this is likely more than just a scheduled maintenance.” However, on Wednesday it reported unequivocally that the DoppelPaymer gang had unleashed a ransomware attack on Kia, demanding $20 million in ransom.
Alternative Investments/ESG: Down Under, Betashares Launches A Climate Change Innovation ETF
BetaShares, the Australian asset manager, has launched the BetaShares Climate Change Innovation ETF (ERTH). Many global companies will reap the benefits from the massive transition to a sustainable planet, given that climate change is recognized as the defining challenge of this age.