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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: Hydrogen-Electric Aviation Startup ZeroAvia Gets $21.4M From Amazon, Shell
California-based ZeroAvia, a startup developing hydrogen-electric aviation solutions, announced Wednesday its raise of $21.4 million. The company will use the money to advance its program for the development of zero-emission commercial aircraft. The aviation industry is a major user of fossil fuels and the source of emissions. ZeroAvia’s powertrain uses hydrogen, which produces water when burned.
Digital Assets: MassMutual’s Bitcoin Deal Could Trigger $600B Institutional Demand (JPMorgan)
A note from analysts at JP Morgan (NYSE: JPM) released Friday said that “adoption of bitcoin was spreading from family offices and wealthy investors to insurance firms and pension funds.” In evidence, the note cited the recent investment by MassMutual in bitcoin worth $ 100 million.
Venture Capital: Blade, The Short-Hop Uber-Of-The-Skies, To Go Public Via SPAC
Blade Urban Air Mobility, the helicopter company known for short-haul trips from airports to city centers, is going public by merging with Experience Investment Corp. (NASDAQ: EXPC), a public entity affiliated with KSL Capital Partners. The short hop to listing will make Blade the only publicly traded global urban mobility company.
FinTech: MassMutual Seals Deal To Acquire Fintech Platform Flourish From Stone Ridge
Massachusetts Mutual Life Insurance Company, or MassMutual, announced Monday that it agreed to acquire Flourish, a fintech platform, from Stone Ridge Holdings Group. Flourish is a digital platform that provides various products and services to more than 350 RIAs that manage more than $ 600 billion of assets. Flourish Cash is the only cash management platform developed specifically for financial advisors and their clients.
Alternative Investments/ESG: Morgan Stanley UK Launches Sustainable Fixed Income Opportunities Fund
The Morgan Stanley UK Sustainable Fixed Income Opportunities fund will primarily invest in global fixed income securities issued by corporates and governments while integrating ESG considerations into the investing process.
Its portfolio will feature an assortment of investment grade, high yield, emerging market, convertible, securitized, and government bonds.
Artificial Intelligence: Seductive Chatbot Xiaoice Sets 500M Chinese Men’s Hearts Aflutter
Created by Microsoft, Xiaoice is an AI-powered female chatbot that has nearly 500 million lonely Chinese men hooked on her charms. Available 24/7, on a wide variety of devices, and for free, she even talked one suicidal man off the parapet. Her fans know she has relationships with millions of other men, but they’re OK with that.
Venture Capital: Prudential-Backed PruVen Capital Launches Maiden $300M Fund
PruVen Capital, a multistage venture firm backed by Prudential Financial (NYSE: PRU), has launched its first fund. The $300 million capital of the fund is targeted at tech startups in insurtech, fintech, healthtech, real estate tech, and enterprise IT verticals. The fund will also invest in horizontal enterprise tech enablers such as data/ML, cloud, DevOps, security, automation, and digital CX.
Alternative Investments/ESG: Inspire Adds Two New ETFs To Its Biblical Range
The Inspire Faithward Large Cap Momentum ETF (NYSE: FEVR) and the Inspire Faithward Mid Cap Momentum ETF (NYSE: GLRY) are two new, actively managed biblically responsible ETFs from the house of Inspire Investing.
Artificial Intelligence: Spot Changes Hands Again; Hyundai Acquires Boston Dynamics
Hyundai Motor Group (KRX: 005380) announced Friday its deal to buy out a controlling interest of 80% of robotics specialist Boston Dynamics from SoftBank Group (TYO: 9984). Boston Dynamics makes Spot, that unnerving robotic dog (pictured above) with surprising capabilities. SoftBank will continue to hold a 20% interest in the company, which has been valued at $1.1 billion for this transaction. Financial terms were not disclosed.
FinTech: Mastercard, Visa, Discover Suspend The Use Of Their Cards on Pornhub
A Bloomberg report said Discover (NYSE: DFS) had joined Mastercard (NYSE: MA) and Visa (NYSE: V) in blocking the use of its cards on adult-content site Pornhub.com. A New York Times earlier this month created an uproar when it alleged Pornhub of showing videos of child abuse and rape. Pornhub has denied that it permits material on its website depicting child sexual abuse.
Digital Assets: Hackers, Suspected Of Russian Origin, Breach The U.S. Treasury
According to a Reuters report, hackers infiltrated departments in the U.S. government and read emails. The criminals were said to be working for Russia, and the attack could have much wider repercussions, Reuters’ sources said.
The bad actors targeted the U.S. Treasury and Commerce Department’s National Telecommunications and Information Administration (NTIA).
Venture Capital: The Story Of Sequoia’s Insane Returns On Airbnb
Do the math on this. Venture capital firm Sequoia paid $585,000 for 58 million shares in Airbnb (NASDAQ: ABNB) in 2009, equivalent to about 1 cent per share. Airbnb listed yesterday, and its shares closed their first day of trading at $144.71. Sequoia’s initial investment of about half a million became worth $8.4 billion in slightly over a decade. Is it any surprise that probably the adjective used most often to describe Sequoia is ‘storied?’
Alternative Investments/Digital Assets: Swiss Firm Valour Launches Fee Free Bitcoin Exchange Traded Product (ETP)
Valour, a Swiss firm that creates innovative financial products, has launched Bitcoin Zero. This is an exchange-traded product (ETP) that charges no management fees. The ETP commenced trading last week on the Nordic MTF segment of the Nordic Growth Market stock exchange.
FinTech: London-based Fintech Checkout.com Floats Venture Arm
Launched in 2012, fintech startup Checkout.com tripled its valuation to $5.5 billion in June 2020 when it collected $150 million in a Series B funding round. That round brought up its aggregate funds raised to $380 million and the available cash on its balance sheet to over $300 million. Add profitability (Checkout has been in the black since founding) to the mix and you have a very well-funded startup indeed. It’s therefore not surprising that Checkout is now investing in other fintechs.
Artificial Intelligence: Goodyear And SafeAI Team Up On Tire Intelligence For Autonomous Vehicles
Goodyear Tire (NASDAQ: GT) has forged a strategic tie-up with SafeAI, the AI specialist for autonomous solutions for the mining industry. The two companies will integrate a mining site and AI platform and process tire intelligence collected from rim-mounted sensors in heavy-duty vehicles.
Digital Assets: Venerable Mass Mutual Hops Onto The Crypto Bandwagon; Buys $100M Bitcoin
U.S.-based mutual firm The Massachusetts Mutual Life Insurance Company plunked down $100 million to buy bitcoin for its general investment account, according to the Wall Street Journal. For good measure, it also acquired 5% in NYDIG, the bitcoin-dedicated financial services firm.
Alternative Investments/ESG: JPMorgan Launches Carbon Transition U.S. Equity ETF
The JPMorgan Carbon Transition U.S. Equity exchange-traded fund (JCTR) will track the JPMorgan Asset Management Carbon Transition U.S. Equity Index. The new fund will give investors exposure to U.S. equities represented by the Russell 1000 subject to their performance on the criteria of emissions, resource management, and risk management.
Artificial Intelligence: Casino And Resort Operator Melco To Combat Food Waste Using AI
Melco Resorts (NASDAQ: MLCO), the global casino and resort operator famous for its City of Dreams and Morpheus resorts in Macau, plans to use AI systems from Winnow Vision to reduce food waste and improve environmental sustainability.
Digital Assets: France Cracks Down On Crypto To Counter Money Laundering And Terrorism Financing
December 9 will be a forgettable date for crypto supporters in France and across the globe. On Wednesday various French ministries jointly issued an ordinance that banned anonymous crypto accounts and digital asset transactions.
Venture Capital: Swedish eSports And Gaming Company MTG Acquires Hutch Games For Potentially $375M
Modern Times Group, a Swedish company active in esports and gaming entertainment, announced the acquisition of London based mobile games developer Hutch Games for $ 375 million. Of this amount, $ 275 million is payable upfront and the rest will come from earnout payments. Top Hutch games such as Rebel Racing, F1 Manager, and Top Drives will now come under MTG’s umbrella.
FinTech: Revolut Launches ‘Pockets’ to Help Consumers Manage Spending
Revolut continues to add new features to its banking app as it steps up its efforts to be present in the entire financial life-cycle of its consumers and become a super app. Pockets, its latest innovation, allows consumers to organize bills and earmark money for their payment. The amount leftover in the main account is what’s free to use for spending.
Alternative Investments/ESG: Amundi’s New DAX ESG ETF
The new Amundi DAX 50 ESG UCITS ETF (DECD) is a DAX 50 ETF with a preference for companies that have strong sustainable profiles. It tracks the DAX 50 ESG index which bars companies in activities such as weapons, tobacco and thermal coal, or do not meet international standards.
FinTech: Are NeoBanks Finally Turning Around? Revolut Breaks Even
Revolut has staged a sharp recovery from the depths of the virus pandemic and its debilitative effect on revenues, breaking even in November. That’s encouraging, given that the neobank tripled its losses in 2019 compared to 2018. Further, during 2020, customers’ reduced spending took a swipe at Revolut’s income from card interchange fees. Nevertheless, Nik Storonsky, the digital challenger bank’s CEO, said as recently as August that the bank would break even this year. He just might deliver on that promise.
Venture Capital: Ada Ventures Closes $50M Fund For Early-Stage, ‘Overlooked’ Founders
UK-based Ada Ventures is a VC with a difference. It looks out for founders and markets missed by the mainstream of venture finance. (Read: Bold ideas and courageous founders that see something from an entirely different perspective – whoever and wherever they may be.) Ada just announced that it had closed a $50 million fund.