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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: The Critical Shortage Of AI Chips
The demand for graphics processing units (GPUs) in the tech industry, particularly for artificial intelligence (A.I.) applications, has led to a desperate search for these essential components. Start-ups and investors are going to great lengths to obtain GPUs due to their role in powering A.I. products that analyze vast amounts of data. The scarcity of GPUs began when the rise of A.I., fueled by chatbots like ChatGPT, created a surge in demand, causing a shortage in the market.
Liquid Alternatives: Cerulli Report Anticipates Higher Allocations To Liquid Alts By European Institutional Investors
European investors, both retail and institutional, are showing a growing interest in hedge funds and alternative investment options, as indicated by recent findings from Cerulli Associates. In the UK, Italy, and Switzerland, there’s a notable preference for semi-liquid funds for private market investments, with 50% of UK wealth managers favoring this approach.
FinTech: Crypto Network Stellar Buys Piece Of MoneyGram International
Stellar, a cross-border cryptocurrency payments network, has strategically invested in MoneyGram International, a prominent money transfer company, solidifying their years-long collaboration. Although the exact monetary value remains undisclosed, this move accentuates Stellar’s dedication to digital advancements in the fintech realm.
Artificial Intelligence: As AI Booms, Softbank Plans A Blockbuster IPO From Arm Ltd
The year’s most significant initial public offering (IPO) centers around Arm Ltd., a lesser-known company despite its integral role in the tech world. Arm, headquartered in Cambridge, UK, specializes in designing key components for the chips powering nearly all smartphones globally. It was acquired for $32 billion by SoftBank (TYO: 9984) in 2016 and delisted from the London Stock Exchange.
Alternative Investments/Digital: A New YieldMax ETF Uses Calls On CoinBase To Generate Income
YieldMax™ has introduced a new ETF on August 15, 2023, titled YieldMax™ COIN Option Income Strategy ETF (NYSEARCA: CONY). It employs a synthetic covered call approach to generate monthly income from Coinbase Global, Inc. (NASDAQ: COIN).
Venture Capital: Advanced Ionics Raises $12.5M In bp-Led Series A Round
Advanced Ionics, a company pioneering innovative hydrogen electrolyzers for green hydrogen production, has successfully concluded a $12.5 million Series A financing round, with prominent support from bp ventures, Clean Energy Ventures, Mitsubishi Heavy Industries (TYO: 7011), and GVP Climate.
Digital Assets: A Sustainability-Focused Spot Bitcoin ETF Launches In Europe
London-based Jacobi Asset Management has launched today Europe’s first Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, ahead of the U.S. The Jacobi FT Wilshire Bitcoin ETF, trading under the ticker BCOIN, charges a 1.5% annual management fee and is listed on Euronext Amsterdam. Fidelity Digital Assets serves as custodian, while Flow Traders acts as market maker, with authorized participants including Jane Street and DRW.
FinTech: d.light Lands $30M For Low-Cost Solar Devices In Tanzania
d.light, a global provider of affordable household products and financial solutions for low-income households, has successfully secured a $30 million securitization facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group), with the potential to acquire up to $125 million of receivable assets.
Venture Capital: EDAC Labs Raises $3M Seed For Direct Air Capture Of CO2
EDAC Labs, an innovator in electrochemistry, has secured $3 million in seed funding to expand its distinctive carbon removal technology. The funding round was spearheaded by the Grantham Foundation for the Protection of the Environment, renowned for investing in early-stage climate-related innovations, and supported by notable angel investors.
Artificial Intelligence: AI-Powered Trousers Help Stroke Victim To Walk Again
Julie Lloyd, a 65-year-old stroke survivor, is making strides towards regaining her ability to walk independently, all thanks to a cutting-edge AI-powered garment. She is a participant in the pioneering trial of the “smart garment” known as “NeuroSkin,” which employs AI-controlled electrodes to stimulate her paralyzed leg.
Digital Assets: Bernstein Paints Bullish Picture Of Crypto If SEC Flags Off A Spot Bitcoin ETF
A recent report from brokerage firm Bernstein highlights the potential significance of approving Bitcoin Spot Exchange-Traded Funds (ETFs) in driving a new cycle of growth in the cryptocurrency market. These ETFs not only create demand in the spot market but also trigger a positive market signal, attracting retail and institutional flows seeking legitimacy.
Venture Capital: Elon Musk’s Neuralink Raises $280M Round Led By Founders Fund
Elon Musk’s biotech startup Neuralink has secured $280 million in a Series D fundraising round, with Founders Fund leading the investment. Founders Fund is a San Francisco-based VC firm established by Peter Thiel, who previously was one of the founders of PayPal (NASDAQ: PYPL).
FinTech: Mastercard Buys Stake In MTN’s Fintech Unit For Undisclosed Amount
Mastercard (NYSE: MA) is set to acquire a minority stake in the financial technology division of MTN (JSE: MTN), South Africa’s largest mobile company, which focuses on payments and remittances. The valuation of this division is over $5 billion. The investment is expected to be finalized soon and is seen as a significant step in MTN’s fintech services expansion.
Artificial Intelligence: Korea’s SK Telecom Joins Hands With Anthropic On LLM, Invests $100M
South Korean telecommunications company SK Telecom (KRX: 017670) (SKT) has invested an additional $100 million in AI safety and research firm Anthropic, building on a previous investment by SKT’s venture capital arm. The companies have formed a partnership to develop a multilingual large language model (LLM) tailored for the telecommunications industry.
Digital Assets: Mike Novogratz Expects SEC To Greenlight Spot Bitcoin ETF In Six Months
Galaxy Digital CEO Mike Novogratz is hopeful that the U.S. SEC could approve a spot Bitcoin exchange-traded fund (ETF) within 4 to 6 months. He based this premise on his contacts at major asset management firms Blackrock (NYSE: BLK) and Invesco (NYSE: IVZ), both of which have filed for Bitcoin ETFs with the SEC.
FinTech: Africa-Focused, Mobility Financier Moove Raises $78M
African-founded mobility fintech, Moove, has secured a substantial investment to further its mission of revolutionizing financial services for mobility gig workers. The company has raised a total of $76 million in new funding, comprising $28 million in equity from both existing and new investors, $10 million in venture debt from funds managed by BlackRock, and an undisclosed $38 million raised over the past year.
Venture Capital: Serve Robotics, The High-Growth Maker Of Delivery Robots, Scores $30M Fund Raise
Serve Robotics Inc., the well-known autonomous sidewalk delivery company, has revealed a significant step in its growth strategy, announcing a successful financing round that secured $30 million in funds. This funding brings the total capital raised by Serve to more than $56 million since its inception in 2021.
Artificial Intelligence: Chinese Internet Companies Place Billions Of Dollars’ Worth Of Orders For Nvidia AI Chips
China’s internet giants, including Baidu (HKG: 9888), ByteDance, Tencent (HKG: 0700), and Alibaba (HKG: 9988), are aggressively purchasing Nvidia (NASDAQ: NVDA) chips valued at $5 billion to build generative artificial intelligence systems. This rush is fueled by concerns that the US might impose new export controls.
Artificial Intelligence: An AI-Powered Microscope Detects Malaria Parasites With 88% Accuracy
A new high-tech microscope utilizing AI technology has been developed to detect malaria in returning travelers. Malaria, caused by Plasmodium parasites, results in millions of illnesses and hundreds of thousands of deaths annually.
Venture Capital: Nervous Of Misuse By Its Military, The Biden Administration Restricts Investment In Certain Chinese Tech Sectors
The Biden administration has issued an executive order restricting US investors from funding Chinese companies engaged in certain technology development that could have military applications. The order aims to prevent these technologies from being utilized by China’s military.
FinTech: SumUp Amasses $100M Firepower To Lend To UK Merchants
SumUp has introduced a novel cash advance solution for merchants to address the escalating costs of running their businesses. This offering, known as SumUp Cash Advance, involves the repayment of advances through transactions carried out on SumUp’s card readers. To facilitate the launch and implementation of this initiative, SumUp has secured a credit facility of $100 million from Victory Park Capital (VPC), an alternative investment firm.
Alternative Investments/ESG: USCF Advisers Launch Commodity Facing ETF With Sustainable Focus
The US Commodity Fund (USCF) has introduced the USCF Sustainable Commodity Strategy Fund (ZSC), an actively managed exchange-traded fund (ETF). This fund aims to achieve overall returns by providing broad exposure to commodities in three sustainability-focused areas: agriculture, renewable energy, and electrification.
Digital Assets: Billionaire PE Investor David Rubenstein Speaks Well Of Bitcoin
Billionaire investor David Rubenstein, co-founder of The Carlyle Group, said he believed Bitcoin was here to stay due to its significant and enduring appeal.
FinTech: Sweater Launches Platform To Boost Inclusivity In Venture Investing
Sweater, a pioneering fintech company, has unveiled an innovative venture, the Public VC Funds platform, which marks a breakthrough in the traditional venture capital landscape. This groundbreaking offering enables qualified partners to establish their own venture capital funds, opening the doors for participation by their communities and the general public, regardless of accreditation status.