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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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Hedge Funds: Bridgewater Associates Invests $400 Million in Gold
Hedge Funds: Bridgewater Associates Invests $400 Million in Gold Ray Dalio’s Bridgewater Associates hedge fund has invested $400 million in gold during the second quarter. Based on Bridgewater’s 13F filings, the hedge fund bought 1.4 million shares of the SPDR Gold Trust. Additionally, the company acquired 4.1 million shares in the iShares Gold Trust. Bridgewater’s…
Private Equity: Hong Kong Private Equity Firm Proposes $1.4 Billion Counter Offer
Private Equity: Hong Kong Private Equity Firm Proposes $1.4 Billion Counter Offer Buyout private equity firm Baring Private Equity has recently made an offer to buy Japanese nursing home operator Nichiigakkan. Nichiigakkan has already agreed to Bain Capital’s $1.2 billion offer, but Baring claims to value the nursing home operator at 146 billion yen, or…
Digital Assets: Coinbase to Allow Loans Against Bitcoin Holdings
This should be another shot in the arm for bitcoin adoption. Liquidity of holding is a much-desired feature of any asset, and U.S. digital assets exchange Coinbase is pulling out the stops on that one. In a Thursday blog post, the exchange invited US customers to sign up to a waitlist for the option to borrow up to 30% of their bitcoin (BTC) holdings.
FinTech/ESG: Solar Financier Loanpal Ties Up With Blackstone for $300M of Solar Loans
Loanpal, the fintech that is a market leader in financing of residential solar installations, announced Thursday that Blackstone (NYSE: BX) had committed to invest $300 million in solar loans originating on its platform. The amount committed will enable 10,000 homeowners to finance their solar systems, thereby reducing their homes’ carbon footprint.
Alternative Investments: iCapital To Provide Alternative Investment Solutions to PGIM’s Retail Clientele
PGIM Investments is the retail distribution arm of PGIM, Inc, the $1.4 trillion investment management business of Prudential Financial, Inc. (NYSE: PRU). It has tied up with iCapital Network, a financial technology platform focused on alternative investing, for a customized technology solution to support PGIM’s high net worth clients and financial advisors. The latter will get access to PGIM’s real estate, private credit, and other private alternative investment solutions, hitherto only available to the firm’s institutional clients.
Venture Capital: Impossible Foods Raises $200M; Vegan Pork On The Way
Impossible Foods, the plant-based meat startup, announced Thursday its Series G round raise of $200 million. The investment round was led by new investor Coatue Management LLC. It saw participation by another new investor XN Capital, as well as existing investors Mirae Asset Global Investments and Temasek. While Coatue and XN are both hedge funds, Coatue is renowned for its affinity for tech investments.
Artificial Intelligence: Saudi General Hospital UAE to Deploy AI-Powered Software Bots
The Saudi German Hospitals UAE has announced a collaboration with Automation Anywhere for the installation of software bots to automate various business processes and thereby improve patient care standards.
Alternative Investments/Real Estate: The New Guardian i3 Global REIT ETF
The inaugural suite of five ETFs from Guardian Capital comprises two Directed Outcomes solutions that combine high conviction ideas with derivative overlays to seek high income and risk mitigation and three i3 funds that use artificial intelligence to deliver superior risk-adjusted returns. One of the ETFs in Guardian’s new suite is the Guardian i3 Global REIT ETF, an ETF focused on the global real estate market.
Venture Capital: Gong Secures Unicorn Status With $200M Series D
Gong, the startup which helps businesses glean “revenue intelligence” from customer interactions, achieved unicorn status when it raised $200 million at a valuation of $2.2 billion. Coatue led the Series D round, with participation from Index Ventures, Thrive Capital, and Salesforce Ventures. Existing investors NextWorld Capital, Battery Ventures, Norwest Venture Partners, Sequoia Capital, and Wing Venture Capital also invested.
Digital Assets: NPP, A Blockchain Solution for Governments Considering a CBDC
Apollo Fintech announced Wednesday the completion of its National Payment Platform (NPP), the first of its kind, blockchain-based, cashless national currency platform. It enables a central bank to issue a sovereign, digital currency for national adoption.
FinTech: Done With Beta, Revolut Preps For Australian Launch
Revolut, the UK-based neobank led by Nikolay Storonsky, on Tuesday called an end to its beta mode operations in Australia. Country CEO Matt Baxby said the fintech was now readying for a launch of a “super app” in the country.
Artificial Intelligence: Blue River’s Massive Robots For Precision Spraying Weeds
A growing world population is placing increasing demand for food on existing resources such as land, water, and nutrients. Add to this the challenges from climate change, plant disease, and attacks from pests and weeds. Agricultural output is under pressure at a time of rising demand, and the race is on to find agricultural methods, technology, and tools to enhance farming efficiency. At Blue River Technology, a subsidiary of John Deere (NYSE: DE), they are building smart agricultural robots that precisely spray weeds with herbicide in real-time.
CRE Fundraising Faces Challenges Amid Ongoing Global Pandemic
Coronavirus continues its impact on the commercial real estate market. COVID-19 has hit the commercial real estate market in North America particularly hard. Growth for this sector has stalled in the first half of 2020. According to a Preqin report, real estate funding for private equity is past its peak, which was $83 billion in…
Blackstone Invests in South Florida Real Estate
Real Estate Boon Amid Pandemic. Blackstone Group announced its completion of a real estate transaction with Elion Partners, which includes industrial properties in Broward County. The deal encompasses warehouses located in Weston, Coral Springs, and Pompano Beach. Elion Partners initially paid $35 million for these properties in 2018 and 2019. Medical devices company Venus Concept…
Artificial Intelligence: Using AI To Keep Parolees From New Crimes (Recidivism)
Researchers at Purdue University Polytechnic Institute are using artificial intelligence (AI) to pinpoint behavioral flags that can trigger early intervention before the parolee recommits crime – known as recidivism.
Venture Capital: Nokia-Branded Device Maker HMD Global Raises $230M
HMD Global, the maker of Nokia phones, announced Tuesday the closure of a $230 million fundraising. The company said investors included some of its top global strategic partners. These were unnamed in the company’s press release. However, according to a Reuters report, these strategic investors included Google (NASDAQ: GOOGL), Qualcomm (NASDAQ: QCOM) and Nokia (HEL: NOKIA).
FinTech: American Express Eyeing SMB Lender Kabbage in $850M Deal
American Express (NYSE: AXP) the largest provider of credit cards to small businesses, is in advanced talks to acquire Kabbage, the online lender to small businesses, according to Bloomberg.
Digital Assets: Nasdaq-listed Company Microstrategy Bets $250M on Bitcoin
MicroStrategy Inc (NASDAQ: MSTR), a business intelligence firm, announced Tuesday that it had made good on its two-pronged capital allocation strategy announced July 2020. Firstly, it launched a tender offer to buy up $250 million worth of its class A common stock. In the second leg, it bought bitcoin (BTC) worth $250 million as a part of its commitment to invest in one or more alternative investments or assets.
ESG Investments to Gain Popularity in Real Estate
ESG Investments to Gain Popularity in Real Estate As the environment becomes more of a priority among the public, environmental responsibility has become a priority for businesses and organizations as well. The looming effects of climate change are pressuring businesses and corporations to take action. Oil and gas companies in particular are facing increasing pressure…
Private Equity: Advent Invests in Hermes UK
Private Equity: Advent Invests in Hermes UK Courier services company Hermes will soon benefit from a hefty investment from private equity firm Advent International. Otto Group has previously announced that it will partner with Advent to grow Hermes Group in Germany and the UK. Advent International and Otto Group will partner their management teams to…
Liquid Alternatives: Prime Capital to Launch Liquid Alts Credit Fund
Liquid Alts Proliferate as Their Attributes Shine. Independent asset manager Prime Capital is one of the lastest firms to roll out a liquid credit fund. The fund offers a range of alternative credit strategies, including trade finance and real estate bridge financing. This fund will invest between 15 and 20 funds globally. They will be…
Hedge Funds: Lone Pine Hits the Jackpot
200% Gain on Afterpay Investment. United States-based hedge fund Lone Pine Capital has hit a $56 million jackpot in profits on Afterpay. This firm made returns of over 200 percent on a $27 million investment in Afterpay shares. Its total proceeds exceeded $80 million in just a few months. Its investments were scattered across four…
Private Equity: Blackstone to Acquire Prestige Group Assets
$1.7bn Deal is Largest for India Real Estate Sector. Private equity giant Blackstone group is planning to acquire Prestige Group’s rental income assets for over $1.7 billion, or Rs 12,745 crore. This buyout will be the largest for the real estate sector in India. This transaction will prove to be useful to Prestige Group as…
Venture Capital/Real Estate: MetaProp Launches Fourth Fund Targeting $200M
MetaProp, the NYC-based VC firm that backs startups in the field of real estate technology, is back in the market with a $200 million fund. Titled MetaProp Growth Select I, the fund will target more mature startups in the field. MetaProp co-founder Aaron Block will manage the fund.