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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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Venture Capital: SpyCloud Lands $110M For Its Identity Protection Platform
SpyCloud, a leading provider of identity threat protection, has secured a $110 million growth round of funding led by Riverwood Capital. The company specializes in automating the safeguarding of digital identities against sophisticated cyber threats. SpyCloud’s innovative approach involves utilizing a proprietary engine to collect and analyze data from the criminal underground. This data is then used to automate the remediation of exposed authentication and identity information. The funding will be instrumental in driving global expansion, particularly in the realms of enterprise and consumer protection, investigations, and authentication bypass prevention.
Artificial Intelligence: AI Startup Hugging Face Lands $235M From Top Tech Companies
New York-based AI startup Hugging Face has secured a significant investment of $235 million in a funding round, driving its valuation to $4.5 billion. Notable contributions came from major tech players such as Google (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), Salesforce (NASDAQ: CRM), AMD (NASDAQ: AMD), Intel (NASDAQ: INTC), IBM (NYSE: IBM), and Qualcomm (NASDAQ: QCOM). The company’s focus is on creating tools for AI developers to openly share and test their work, akin to GitHub’s role in the programming realm.
Digital Assets: Solana Pay, A Payment Protocol Based On The Solana Blockchain, Integrates Into Shopify
Solana Pay, a decentralized payments protocol built on Solana by Solana Labs, has integrated with Shopify Inc. (NYSE: SHOP), a global commerce company. This integration enables millions of businesses to use Solana Pay as a payment option. Solana Pay offers real-time access to funds, improved working capital management, and direct payment settlement using USD stablecoins (USDC) compatible with Solana.
FinTech: Indian Prime Minister Modi Extols Virtues Of India’s UPI Payment System At BRICS Summit
Indian Prime Minister Narendra Modi has suggested that member states of the BRICS bloc should adopt India’s successful Unified Payments Interface (UPI) system for instant payments. He emphasized India’s leadership in digital transactions and highlighted the widespread use of UPI across various sectors within the country, from street vendors to large shopping malls. Prime Minister Modi was speaking at the BRICS Business Forum in South Africa.
Venture Capital: Rapport Therapeutics Raises $150 Million For Precision Neuromedicines
Rapport Therapeutics, a clinical-stage biotechnology company focused on precision neuromedicines, has successfully raised $150 million in a Series B funding round. The funding will support ongoing clinical programs targeting seizure and psychiatric disorders, as well as the advancement of their precision neuromedicine discovery platform. The investment was led by Cormorant Asset Management and included participation from various notable investors.
Artificial Intelligence: Runaway Demand For Its AI Chips Catapults Nvidia To Record Quarterly Sales
Nvidia (NASDAQ: NVDA), the leading technology company and chip-maker, has reported record-breaking sales, more than doubling due to high demand for its artificial intelligence (AI) chips. In the three months ending June, revenue surpassed $13.5 billion, driven by strong performance in its data center business, particularly AI chips.
Venture Capital: BlackRock Amongst Investors Funding NorthVolt With $1.2B
Northvolt, while producing its first battery systems at its facility in Poland (Northvolt Dwa), has secured $1.2 billion through a convertible note to support its expansion plans in Europe and North America. This funding is an extension of a previous $1.1 billion convertible note signed in 2022. The financing includes investments from environmentally focused funds in compliance with the EU’s Sustainable Finance Disclosure Regulation. Major investors in this round include Investment Management Corporation of Ontario (IMCO), BlackRock, Canada Pension Plan Investment Board (CPP Investments), and OMERS.
Artificial Intelligence: AI Will Assess LAPD Officers’ Language In Interactions With The Public
The Los Angeles Police Department (LAPD) has announced a new initiative to utilize artificial intelligence (AI) in analyzing body camera videos to evaluate officers’ language and tone during traffic stops. The goal of this project is to determine whether police language can sometimes unnecessarily escalate encounters with the public. The study, which will span three years, will involve researchers from the University of Southern California (USC) and other institutions.
FinTech: Klarna Clocks Solid Growth In Europe In Q2
Klarna, the AI-powered global payments network and shopping assistant, has experienced strong growth in Europe, with a 14% year-over-year increase in Gross Merchandise Volume (GMV) in Q2. This growth surpasses the 1% growth rate in e-commerce during the same period.
Venture Capital: Spend Management Platform Ramp Lands $300M Funding Round
Ramp, a finance automation platform, has secured $300 million in Series D funding to drive its expansion into new sectors. The funding comes after the company achieved a 6x growth in purchase volume since its last funding round, highlighting the increasing demand for its software that enhances financial efficiency for businesses.
Venture Capital: Genesis Therapeutics Closes $200M Round To Expand AI-Powered Drug Discovery
Genesis Therapeutics, an AI drug discovery company, has secured a $200 million Series B funding round to advance its AI-powered drug development pipeline into clinical testing. Founded in 2019 as a spinoff from Stanford University, Genesis focuses on utilizing its deep learning platform called GEMS to design small-molecule drug compounds and predict their interactions with the body, particularly with flexible or challenging proteins.
Venture Capital: UK-Based PropTech Kamma Raises $4.6M For Decarbonizing Real Estate
UK property data and analytics company, Kamma, has secured a £3.6 million ($4.6 million) investment led by the Clean Growth Fund to further develop its property data engine. The engine utilizes advanced geospatial technology to gather and process property data, enabling the formulation of efficient strategies for achieving Net Zero in the UK property sector, encompassing both residential and commercial properties.
Venture Capital: Axiom Space Raises $350M For Its Commercial Space Station
Houston-based space company Axiom Space has successfully concluded its Series-C funding round, raising $350 million. This latest investment brings the company’s total funds raised to over $505 million, in addition to securing customer contracts exceeding $2.2 billion. The funding round was primarily led by Aljazira Capital and Boryung Co., Ltd., with participation from various venture capital funds and strategic brand partners.
Artificial Intelligence: AI Will Guide India’s Chandrayaan 3 Lunar Lander To The Moon’s Surface On August 23
On August 23, Chandrayaan 3, a lunar lander mission by ISRO (Indian Space Research Organization), will attempt to land on the Moon using AI-controlled computer logic. The landing process, scheduled for 18:04 hours, will be managed entirely by the onboard AI system, without any manual interventions from ISRO scientists. The AI system is responsible for navigation, guidance, and control during the 15-minute descent phase.
FinTech: Mastercard, Checkout.com and Careem Team Up To Boost Real Time Payments In the UAE
Mastercard (NYSE: MA), Checkout.com, and Careem have collaborated to introduce a groundbreaking initiative aimed at enhancing real-time payments in the UAE. Careem Pay users in the UAE can now benefit from almost instant payments through the integration of Mastercard Send into the Careem Pay platform. This collaboration seeks to offer faster, more convenient, and secure money transfers and daily service access within the Careem app.
Digital Assets: GDA’s New 8 MW Bitcoin Mining Facility In Sweden To Run On Clean Hydro Energy
Genesis Digital Assets Limited (GDA), a prominent bitcoin mining company with a substantial hash rate, has announced a further expansion of its mining capabilities in Sweden. The new “sustainable” facility, operational since June 2023, is located in the northern part of the country and is currently equipped with an 8 MW data center.
Venture Capital: Alternative Meat Startup ENOUGH Lands €40M
Scottish startup ENOUGH, a mycoprotein producer, has secured €40 million ($43.5 million) in equity funding to expand its plant-based chicken, mince, and dairy offerings for supermarkets and fast-food chains. ENOUGH utilizes mycoprotein, derived from fungus, as a vegan protein source, intending to sell it to businesses for incorporation into their own meat products including plant-based chicken, mince and dairy. It counts Unilever and Marks & Spencer amongst its partners in food technology.
Artificial Intelligence: AI To Help Patients Manage Diabetes
In an article in the Financial Times, author Patti Waldmeir discusses her use of an AI device named “Pearl” to manage her diabetes. Pearl is an AI-powered insulin pump that helps regulate her blood glucose levels by predicting fluctuations and administering insulin as needed. Waldmeir calls this pump her new artificial pancreas.
Digital Assets: Ledger and PayPal Integrate For Crypto Transactions
Ledger and PayPal (NASDAQ: PYPL) have joined forces to simplify the process of entering and transacting in the world of cryptocurrency. The integration allows users to conveniently and securely transact cryptocurrencies through the Ledger Live companion app.
Artificial Intelligence: Former IBM AI Scientist Ferrucci Raises $60M
David Ferrucci, the AI scientist behind IBM Watson, has secured nearly $60 million in funding for his New York-based AI startup, Elemental Cognition. The company, founded in 2015, sold $59.95 million in equity to 17 investors and plans to raise an additional $5.75 million.
Venture Capital: Jiangsu Guoqiang Singsun Energy Technology Lands $137.4 Million in Series A+ Funding
Jiangsu Guoqiang Singsun Energy Technology, a specialized Chinese company focused on advanced tracking technology for intelligent solar plant applications, has raised 1 billion yuan ($137.4 million) in a recent funding round.
Alternative Investments/ESG: JPM AM Expands Paris-Aligned ETF Range With Two ‘Research-Enhanced’ Products
JP Morgan Asset Management (JPMAM) has introduced two Paris-Aligned Benchmark (PAB) ETFs – the JPMorgan Global Research Enhanced Index Equity SRI Paris Aligned UCITS ETF (JSEG) and JPMorgan US Research Enhanced Index Equity SRI Paris Aligned UCITS ETF (JSEU).
FinTech: UK Establishes New £1B Fund To Maintain Fintech Lead And Provide Growth Capital To UK Startups
The UK has launched a £1 billion fintech investment fund, supported by companies including Mastercard (NYSE: MA), Barclays (LON: BARC), Natwest Group (NYSE: NWG), Peel Hunt (LON: PEEL), and the London Stock Exchange Group (LON: LSEG). The Fintech Growth Fund aims to provide capital to growth-stage financial technology companies that struggle to reach scale and pursue public listings.
Venture Capital: Chevron And Equinor-Backed Sapphire Technologies Raises $10M For Gas Turboexpanders
Sapphire Technologies, a company specializing in energy recovery systems for hydrogen and natural gas applications, has successfully raised $10 million in a Series B funding round. The primary investors in this round are Energy Capital Ventures, along with participation from Marathon Petroleum (NYSE: MPC), Chevron Technology Ventures, Equinor Ventures, and Cooper and Company.