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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: Plant-Based Investing Specialist Stray Dog Capital Leads $2M Round in Barvecue
Stray Dog Capital, which invests in innovative, early-stage companies across the food, beverage, and biotechnology sectors, announced it is leading the latest investment round of $2 million dollars in Barvecue. Barvecue is a meat alternative startup that is 100% plant-based. Its vegetarian barbecue products use no artificial preservatives, colors, flavors, or sweetener, nor any hydrogenated oils.
Digital Assets: $7.5M Ransomware Attack on Telecom Argentina
Telecom Argentina has to pay up $7.5 million by 23:48 on July 21. Hackers are becoming more aggressive and demanding larger ransoms for freeing up hijacked computer resources. The latest entity to fall prey to these machinations is Telecom S.A., Argentina’s largest telecommunications company.
Alternative Investments: The Inspire Tactical Balanced ESG ETF for Faith Investing
The latest product from Inspire Investing in their series of faith-based ETFs further enhances their reputation for offering morally-inclined investors avenues for biblically responsible investing. Previous faith-based ETFs in the market have all been passive ETFs that track specified indices.
FinTech: Irate Users Haul Plaid To Court on Alleged Privacy Violations
Two class-action suits, both filed within the space of a month, charge Plaid, the fintech that sold to Visa (NYSE: V) for $5.3 billion in January, violated their data privacy.
Artificial Intelligence: Dubai Authorities Using AI To Keep Tabs on Cabbies
The Dubai Roads and Transport Authority (RTA) has begun the use of artificial intelligence (AI) to make cabs, and the roads they operate on, safer. The Authority wants to ensure that Dubai’s taxi drivers are alert and efficient on the job. It has therefore deployed smart camera systems in the taxis for the purpose.
Private Equity: Morrison & Foerster Expresses High Activity in Private Equity Market
Private Equity: Morrison & Foerster Expresses High Activity in Private Equity Market Marcia Ellis, partner and co-head of Asia private equity investments at Morrison & Foerster, analyzes the market in the region for private equity. This is partly due to the control of the coronavirus when compared to other regions. Ellis prefaces her analysis by…
Liquid Alternatives: Picton Mahoney Launches New Long Short Alternative Fund
Canadian asset manager Picton Mahoney Asset Management has launched a new alternative investment fund that protects investors from the risks to the downside from equities. The fund is available in the versions of mutual fund and ETF. The Picton Mahoney Fortified Long Short Alternative Fund will use short positions to achieve risk mitigation.
Digital Assets: Bank of Thailand Advances Its Central Bank Digital Currency (CBDC) to Third Phase
Bank of Thailand assistant governor Vachira Arromdee announced Wednesday, July 16 that the Thai central bank was moving to the third phase of development of its central bank digital currency (CBDC). In a significant revelation, she said the bank was already using the Thai CBDC in transactions with some large-sized businesses.
FinTech: Facebook’s Instagram Launches Revamped Shopping Option in the U.S.
Facebook’s (NASDAQ: FB) Instagram has just made it even easier for shopaholic couch potatoes to indulge in online retail therapy! On Thursday Instagram launched its new Instagram Shop, an online bazaar containing collections of personalized products, brands and new launches. Special curations from its social shopping channel @shop will also be on display.
Venture Capital: Data Storer Qumulo Snags $125M in Series E; Turns Unicorn
Qumulo, a startup based in Seattle that helps companies create and manage huge amounts of data, announced the successful raising of $125 million in a Series E round led by funds managed by Blackrock (NYSE: BLK). Other investors that participated were Highland Capital Partners, Madrona Venture Group, Kleiner Perkins, and new investor Amity Ventures.
Artificial Intelligence: How Modihost’s AI Can Help Make a Hotel Guest’s Stay Memorable
ModiHost is an AI-powered, cloud-based, SaaS hotel management platform that aims to boost a hotel’s upsales up to 25% by offering a unique and personalized experience to its clients. The platform uses AI to make sense of the huge amounts of typically unprocessed and wasted client data at the average hotel. Instead this data can be assimilated by the AI algorithm and used to enhance a client’s visit.
Liquid Alternatives Rocket Higher in Canada
Canada is New Liquid Alts Breeding Ground. The global Liquid Alternatives community is buzzing over Canada’s continued strong growth in Liquid Alts. On the heels of strong performance of liquid alternative funds amid the Covid-19 pandemic, CI Investments has surpassed $2 billion in Liquid Alt assets under management. The firm launched its CI Liquid Alternatives…
Venture Capital: Thrasio, Online Retailer and Acquirer of Amazon Businesses, Raises $260M
Thrasio, one of the largest online sellers and acquirer of private label businesses on Amazon (NASDAQ: AMZN), raised $260 million in a series C funding round led by Advent International. The funding achieved a pre-money valuation of $1 billion for Thrasio.
Digital Assets: The Biggest Hack in Twitter’s History Nets Scammers $120K
Bad actors used a domain named CryptoForHealth.com as bait to lure bitcoin as part of their hack of the Twitter (NYSE: TWTR) accounts of many luminaries on Wednesday. The attacks began at 19:00 UTC and were a “bitcoin giveaway” scam. Even Apple (NASDAQ: AAPL) and Uber (NYSE: UBER) were not spared.
FinTech: Revolut is Crypto Brokerage Paxos’ First US Client
British challenger bank Revolut has opened up the world of cryptocurrencies to its US customers. Users in 49 American states, except Tennessee, and are now able to buy and sell bitcoin and ethereum through Revolut. Revolut launched its banking services in the US in March and has now tied up with Paxos Trust Company for its Paxos Crypto Brokerage service.
Artificial Intelligence: Blackstone’s Schwarzman Argues For International Cooperation on AI
In the article “The case for a global compact on artificial intelligence,” (July 15, 2020) he writes that the healthcare, education, and manufacturing sectors can deliver enormous payoffs globally. Yet the world is divided on AI. ‘Speaking with the world’s tech experts and entrepreneurs…I’ve come to learn…hold widely divergent views on whether AI will be a force for good, or whether it will disrupt society and life as we know it,” Schwarzman observes. These ‘for’ and ‘against’ arguments are pointless, he argues. Instead, we should focus on “the steps we must take today to ensure that we responsibly harness the nearly limitless potential of AI.”
Private Equity Deals Poised for Strong Rebound
Private Equity Poised for Robust Second Half: LDC. Private equity firm LDC anticipates a rebound in PE over the medium and long term periods. The firm, an affiliate of Lloyds Banking Group, has backed a total of 18 investments this year. LDC expects a spike in transactions for the second half of 2020, as well…
Liquid Alternatives Showing Their Strength Amid 2020’s Volatility
Wilshire Liquid Alternative Index Up in June. The Wilshire Liquid Alternative Index was up nearly 1% in June, continuing to show strength in navigating this year’s wild market ride. The Index is a benchmark for the performance of Liquid Alternative Funds. Longtime Wilshire Associates veteran, Jason Schwarz, said that “Markets rallied in the second quarter…
Alternative Investments: New Suite of Climate-Friendly ETFs From Deka
Listed on the Stuttgart and Xetra exchanges, the new ETFs from Deka Investment give investors the opportunity to invest in large and medium-sized companies from Germany, the Eurozone, Europe, USA, and industrialized nations from across the world, considering sustainability criteria such as climate change.
Venture Capital: Indian Online Retailer Flipkart Announces Walmart-led $1.2B Fundraising
Flipkart, the Indian online ecommerce site in which Walmart (NYSE: WMT) acquired nearly 80% for $16 billion in 2018, announced Tuesday a new equity round. The new funding led by Walmart values Flipkart at $24.9 billion post-money. A group of existing shareholders will also participate in the round alongside Walmart.
Digital Assets: Japanese Bank MUFG to Float Stablecoin Later This Year
Despite innumerable delays, a yen-backed stablecoin from the stable of Japanese banking giant Mitsubishi UFJ Financial Group (NYSE: MUFG) will likely see the light of day by late 2020. CEO Hironori Kamezawa broke the news at an interview with the Mainichi Shimbun newspaper. The token, dubbed “MUFG coin,” for now, could be used by anyone in the country.
FinTech: View From The Top – Matthew Blake, World Economic Forum
Matthew Blake is Head of Financial and Monetary Systems at the World Economic Forum (WEF). He is also at the forefront of the WEF for matters relating to fintech. He recently spoke to Crowdfund Insider on the industry, COVID-19 and its future outlook.
Artificial Intelligence: Air France to Deploy AI to Cut Emissions and Fuel Use
Airlines the world over are on the ropes following the collapse of the travel and aviation market due to the coronavirus outbreak. Tentative economy restarts, such as in the U.S. are under threat from a renewed rise in COVID cases. Airlines are under enormous pressure to cut costs as revenues have evaporated. Flag carriers, such as Air France (EPA: AF), have to come up with environmental quid-pro-quos to qualify for governmental bailouts. AI is a ray of hope in these circumstances.
Hedge Fund Axonic Capital to Raise $1 billion for Credit Deals
Credit Funds on the Rise Following a credit sell-off in March, Axonic Capital is looking to make a comeback through raising nearly $1 billion. Investors are looking to capitalize on undervalued assets with this fund. The firm was a key player in the 2008 financial crisis through its role with mortgaged-backed securities. With its nascent…