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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: How Service-Driven Businesses Can Delight Customers
Bernard Marr, writing in Forbes, says artificial intelligence is helping service-oriented businesses to up their game in terms of customer satisfaction (nay, delight). He goes a step further to observe that services can even uncover new offerable services using AI and thereby generate additional revenue streams. Here are three tips from Marr on using AI to bowl over customers.
FinTech: China’s Ant Group Reports Nearly $3.5B In Profits to June 2020
Ant Group, the holding company for Alipay, the mobile payment service with over 1 billion users, reported a solid streak of profitability during the first six months of 2020. The Jack Ma controlled company earned about 9.1 billion yuan ($1.3 billion) of profit in the recent June quarter and 15.3 billion yuan ($2.2 billion) in the preceding March quarter. These numbers have been derived from the results for the June quarter declared by Alibaba Group (NYSE: BABA), which holds 33% of Ant Group.
Hedge Funds: Investors Gain Interest in Hedge Funds Amid Pandemic
Hedge Funds: Investors Gain Interest in Hedge Funds Amid Pandemic Investors now plan to put more cash into hedge funds rather than less. This has not occurred in years. For instance, a survey by Preqin showed that 44 percent of hedge fund investors plan to invest in hedge funds in the next year. This is…
Private Equity: HSBC Closes Second Private Equity Fund
Private Equity: HSBC Closes Second Private Equity Fund HSBC has raised $260 million for its second Vision Private Equity fund. Last year, HSBC’s private equity fund closed at $250 million. The strategy for this fund is to make primary and secondary co-investments. These investments will be made globally and across various sectors and strategies. This…
Alternative Investments/Digital Assets: CoinShares ETPs’ AUM Hits $1B
CoinShares’ bouquet of XBT Provider Exchange Traded Products (ETPs) has grossed AUM of above $1 billion. CoinShares is Europe’s largest digital asset manager and allows trading in a range of ETPs to investors.
Venture Capital: Travel Platform Omio Raises $100M To Expand and Acquire
Formerly known as GoEuro, Berlin-based travel booking platform Omio announced Wednesday its successful raise of $100 million from existing and new investors. These included Temasek, Kinnevik, Goldman Sachs Asset Management L.P., NEA, and Kleiner Perkins.
FinTech/Alternative Investments: Real Estate Loan Investing Platform PeerStreet Launches Credit Fund
PeerStreet, a platform for investing in real estate backed loans, was a pioneer in the field of fractional investing in real estate loans. The crowdfunding platform made the process of investing in real estate loans as simple as buying stocks. It offered investors the resources to create and structure their own customized real estate debt investment portfolios. In response to investor demand, PeerStreet has now launched the Peer Street Credit Opportunity, LP.
Digital Assets: Institution-Focused Digital Exchange Archax Is Now FCA Regulated
Institutions can soon trade on a fully regulated exchange for digital assets. The UK-based Archax digital exchange boasts of several licenses received from the Financial Conduct Authority (FCA). The FCA has licensed Archax to operate as a multilateral trading facility exchange, a broker, and a custodian for cash and assets. Archax also became the first-ever company to receive the FCA crypto-asset registration and is therefore a fully compliant Virtual Assets Service Provider (VASP).
Artificial Intelligence: Israeli Shipping Co Deploys AI to Sniff Out Cargo Misdeclarations
The 75-year-old Israeli shipping company ZIM operates globally with four operational headquarters and regional offices around the world to service its 30,000+ customers. In a drive to make its vessels, crew, cargo and the global supply chain safer, ZIM has developed and implemented ZIMGuard™. It is an AI-based software to detect and flag hazardous cargo that has been mis-declared by the shipper.
Hedge Funds: Citi Wins Battle Against Hedge Fund and Creditors
Hedge Funds: Citi Wins Battle Against Hedge Fund and Creditors Citigroup won its battle to regain $900 million that it sent to cosmetic company Revlon creditors. Citi accidentally sent this money and intended to recover the funds as soon as possible. In addition, a U.S. judge blocked hedge fund Brigade Capital from doing anything…
Private Equity: Onex Corporation Promotes Le Blanc to President
Private Equity: Onex Corporation Promotes Le Blanc to President Private equity firm Onex has promoted Bobby Le Blanc to president. He will now oversee all business ventures and will serve as head of Onex Partners. Le Blanc will also be in charge of reporting to Chairman and CEO Gerry Schwartz. According to Schwartz, “Having joined…
Hedge Funds: Citibank Accidentally sends $175 Million to Brigade Capital
Lawsuit Follows Mistaken Payment. Citibank accidentally wired $175 million to Brigade Capital Management. The hedge fund has not returned the money, which led Citibank to file a lawsuit. The bank hopes to get the money back and argue that it was an “operational mistake.” In court documents, Citibank explained that its intention was to send…
Private Equity: Carlyle Group Orders Quarantine Requirement
Private Equity Giant Navigates Pandemic. Private equity firm Carlyle Group ordered all employees who have used public transportation such as trains and buses to a 14 day quarantine. The fund manager expects all of its employees at all offices to avoid public transportation. If they happen to use public transportation at all, they must work…
Venture Capital: Elon Musk’s SpaceX Breaks Funding and Launch Records
A filing dated Tuesday from billionaire Elon Musk’s Space Exploration Technologies Corp (aka SpaceX) showed the giant space start-up raised $ 1.9 billion out of an equity offering of $ 2.07 billion, its largest funding round ever. The funding round comes as Elon Musk becomes the fourth richest person in the world.
Digital Assets: Greenidge Gen, Once A Coal Plant, Is Now A Profitable Crypto Miner
Greenidge Generation, once a mothballed coal-fired power station located in the New York Finger Lake Region, has converted to a power plant-cum-mining hybrid business model that combines power generation with a blockchain mining facility. Greenidge commenced a large-scale cryptocurrency mining operation in January 2020 with a data center comprising 8,500 latest generation miners.
FinTech: Colibra Compensates You for Flight Delays, Now Also In Bitcoin
Colibra is a Bulgarian startup that aims to make compensations for flight delays accessible to any traveler in EU countries. Travelers using the app need to pay nothing upfront and can hope to get a fair and guaranteed chance at compensation if the flight is delayed by just an hour, even due to weather. The app has now extended the option for travelers to receive compensation in bitcoin.
Artificial Intelligence: Four Times Faster MRIs Using AI
Facebook (NASDAQ: FB) and NYU Langone Health collaborated on research to incorporate Artificial Intelligence (AI) into medical imaging technology. The objective: to speed up MRI scanning so that patients have to spend less time cooped up, completely still, inside an MRI machine for as long as an hour. The project, fastMRI, found AI can help make these agonizing scans up to four times faster.
Hedge Funds Short on Dollar for First Time Since 2018
Hedge Funds: Hedge Funds Short on Dollar for First Time Since 2018 Hedge funds have decreased in share prices for the first time since May 2018. A decrease in price for the world’s reserve currency will continue as the market remains unpredictable. Net futures held by funds against eight currencies dropped to minus 7,881 contracts. …
Private Equity: Private Equity Takes Away from Texas Retirement System
Private Equity Takes Away from Texas Retirement System The Employees’ Retirement System of Texas’s private equity portfolio has lost 2.14 percent as of June 30. The private equity portfolio is worth $4.4 billion, but it was the biggest detractor at a 1.9 percent loss. Before the Coronavirus pandemic, the private equity portfolio was strong at…
ESG: Insurers Take a Fancy To ESG & Sustainability ETFs (Invesco)
Invesco finds on analysis of recent asset allocation trends that some major institutional investors including insurers, have already realigned their portfolios in favor of ESG strategies. What’s more interesting is that these sophisticated investors are taking increasing recourse to ESG-focused ETFs to give effect to their strategies for sustainable investments.
Digital Assets: Big Investor Names Move Into Gold, Boosting Targets for Bitcoin
An analysis of Q2 SEC filings shows that Buffet’s Berkshire Hathaway (NYSE: BRK.A) jettisoned stocks of Wells Fargo (NYSE: WFC), JPMorgan (NYSE: JPM) and Goldman Sachs (NYSE: GS). On the other hand, he bought 20.9 million shares in Barrick Gold (NYSE: GOLD) – a safe haven bet worth about $563.6 million. Gold and crypto bugs are currently joined at the hip. So its no surprise that one analyst has predicted a price of $50,000 for bitcoin.
Venture Capital: Brazilian Games Maker Wildlife Studios Raises $120M
Wildlife Studios, a Sao Paolo-based games maker, garnered a valuation of $3 billion. That’s fast going. In December, Wildlife raised $60 million at a valuation of $1.3 billion. With the current $120 million round, the company doubled its fundraise and nearly tripled its valuation, all in a matter of fewer than eight months.
FinTech: Thomson Reuters Acquires Virtual Courts Platform CaseLines
Thomson Reuters (NYSE: TRI) has acquired CaseLines, a digitized, cloud-based judicial platform that manages evidence, court documents, and virtual hearings.
Artificial Intelligence: Chinese AI Behemoth SenseTime May Dual-List
SenseTime Group Ltd., the Chinese AI giant that deploys facial recognition technology on a massive scale, including for law enforcement, is weighing an IPO. The company, which is backed by investors such as SoftBank and Singapore’s Temasek Holdings, is raising $1.5 billion of pre-IPO financing at a valuation of nearly $8.5 billion.