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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: Payments Processor Elavon to Deploy Mastercard’s Brighterion AI To Combat Fraud
Elavon, a global payments provider and subsidiary of U.S. Bank (NYSE: USB), will work with Brighterion, Mastercard’s (NYSE: MA) AI company, to minimize fraud. Though EMV chip technology has helped to reduce frauds on cards, digital fraud is on the rise due to the massive growth in e-commerce transactions. Digital payments have surged during the COVID-19 crisis, and fraudsters are said to be eyeing a once-in-a-generation opportunity in digital fraud.
Venture Capital: Animal-Free Dairy Proteins Maker Perfect Day Expands Series C to $300M
Perfect Day, a food-tech startup that makes dairy proteins (no cows needed), announced the expansion of its Series C Round up to $300 million. The Series C had previously closed in December 2019 at $140 million and was led by Temasek Holdings and Horizons Ventures. The Canada Pension Plan Investment Board’s (CPPIB) investment group Thematic Investing led this new tranche of $50 million. Aggregate funding at the Berkeley, California-based startup is now over $360 million.
Real Estate: Kayne Anderson Raising $2 Billion for Sixth Fund
Kayne Anderson Capital Advisors is seeking to secure its sixth real estate fund by raising $2 billion. The goal of this fund is to focus on investments in student housing, and has received support from the Teachers’ Retirement System of Louisiana. This includes a $50 million investment in the fund. Strategy As a result of…
Private Equity: KKR Teams with Dan Daniel to Catapult U.S. Industrial Business
KKR Pursues U.S. Industrial Sector Opportunities Global investment firm KKR has announced its partnership with executive William K. Daniel. Daniel is a former executive at Danaher Corporation — a global science and technology innovator. This partnership will focus on acquisitions in industrial businesses. In the long run, KKR hopes to grow businesses and improve their…
ETFs In The First Half of 2020
Some fun facts about fund flow to ETFs in the half-year ended in June 2020.
Venture Capital: Palantir, The Ultra Low Profile Data Firm, Files Confidentially for an IPO
Palantir Technologies, the highly secretive data analytics giant that works with governments, major banks, agencies such as the CIA and FBI, and the U.N.’s World Food Program, has confidentially submitted a registration statement for a proposed public listing to the Securities and Exchange Commission. The firm made the fact public on Monday, July 6.
Digital Assets: Arca Launches A Treasury Fund that Will Issue Its Shares as Digital ArCoins
The Arca U.S. Treasury Fund is the first-ever financial product regulated under the Investment Company Act of 1940 allowed to offer digital securities. Digital asset investment firm Arca launched the closed-end fund on July 6. Though the Arca U.S. Treasury Fund will invest 80% of its portfolio assets in U.S. Treasury securities, shareholders investing in the fund will be issued digital securities called “ArCoin.”
Artificial Intelligence: AI-Enabled Screening For Diabetic Retinopathy Can Save Patients’ Eyesight
A study used the images from 30,000 patient scans (120,000 images) from the English Diabetic Eye Screening Program (DESP) to identify signs of damage using the EyeArt artificial intelligence eye screening technology (Eyenuk, Inc., Los Angeles, U.S.). The results were 100% accurate for the detection of moderate to severe retinopathy that could potentially cause the loss of vision. It was 95.7% accurate while detecting issues requiring the patient to refer to a specialist’s services. The study has profoundly positive implications for diabetic retinopathy and its screening.
FinTech: Malaysian Company MFMi Group To Launch Digital Islamic Banking Using Mambu’s Platform
MFMi Group, a unit of Malaysian fintech MFM Synergy, announced its intention to launch digital Islamic financial services choosing Mambu’s SaaS, cloud-native banking platform. The initiative aims to enhance financial inclusion for Malaysia’s underserved consumers.
Hedge Funds: London-Based Hedge Fund to Retreat Following Losses
Sloane Robinson, a London-based Hedge Fund co-founded by George Robinson, is set to close by the end of this year. This decision was based primarily on a decline in the firm’s assets under management. The firm was also lacking in performance which was mainly due to volatile markets resulting from Covid-19. Sloane Robinson’s Global Frontier…
Artificial Intelligence: How CrowdSmart’s Predictive AI Improves VC Investments
CrowdSmart’s Cyrus is a software-as-a-service (SaaS) platform that uses AI and collective intelligence to better predict the likely result of an investment. Speaking to Barron’s in a panel interview, Polese provided insights on how the platform improved due diligence on a proposed investment. It more accurately predicted the investment outcome, reduced bias and democratised VC funding.
Venture Capital: SaaS Data Protector OwnBackUp Gains $50M Funding
OwnBackup is a cloud-to-cloud backup and restore vendor that provides automated, daily backups of SaaS and PaaS data, as well as data compare and restore tools for disaster recovery. Its primary business is focused around clients needing to protect their Salesforce data. It raised $50 million in a follow-on round led by Insight Partners, with participation from Salesforce Ventures and Vertex Ventures.
Digital Assets: Now Book Any of 700,000 Expedia Hotels Through Crypto Friendly Travala.com
Travala.com is a blockchain-based, crypto friendly travel booking platform with access to over 2 million hotels in 230 countries. In a partnership with Expedia Partner Solutions announced Monday, more than 700,000 Expedia group accommodations can now be booked by travellers on Travala.com.
Liquid Alternatives: “The Most Hated Stock Rally in History” Proves Pundits Wrong…Again
Salvatore J. Bruno, Chief Investment Officer and Managing Director, IndexIQ, makes the interesting point that it is hard to predict how markets will behave around a significant inflection point. Writing in ETF Trends he observes that, as usual, markets were ahead of the curve and discounting an economic recovery that was invisible to economists and analysts.
FinTech: Digital Payment Company Square To Give Banks A Run for their Deposits – Analyst
San Francisco-based Square Inc (NYSE: SQ), a digital payment processor led by Jack Dorsey, benefited Monday from a highly bullish report by SunTrust analyst Andrew Jeffrey. The stock touched an all-time high of $ 128.36 after the analyst wrote that it could take away direct deposits from banks and ultimately sit on a market share of 20%. Square’s market capitalisation, based on Monday’s close, is $ 52.27 billion. According to a Bloomberg report Square now has a market capitalisation higher than all but four banks in the KBW Bank index.
Real Estate: Angelo Gordon Raises Over $1.5 Billion for Europe Fund
Angelo Gordon, a global alternative investment firm, raised more than $1.5 billion for a real estate fund. After surpassing the $1.2 billion target, the real estate fund will focus on undervalued assets to add to its portfolio. Angelo Gordon currently manages $35 billion reaching across credit and real estate markets. Since 2009, Angelo Gordon has…
Private Equity: Global Alternertives Giant Apollo Moves Deeper Into Direct Lending
Apollo Global Management is planning a $12 billion direct lending and alternative credit fund. The firm will utilize these funds to provide $1 billion in loans to various companies. Abu Dhabi fund Mubadala backs this Investment along with other investors involved in the project. Direct lending will allow investors to invest in high-quality businesses and…
Fintech: Indonesian, Agent-Driven Banking Network PAYFAZZ Raises $53 Million
PAYFAZZ, an Indonesian fintech start-up, scooped up $ 53 million in a Series B funding round led by B Capital Group and Insignia Ventures Partners. Existing investors Tiger Global Management, Y Combinator, ACE & Company, and Quiet Capital also participated in the funding. New investors included BRI Ventures.
Artificial Intelligence: Baricitinib, An AI-flagged Rheumatoid Drug, Could Treat COVID-19
Back in February 2020, researchers at BenevolentAI, a British company that uses artificial intelligence in drug discovery, were sifting through its drugs database. The objective: to find one that could be repurposed for treating COVID 19. They found that baricitinib, a drug used for rheumatoid arthritis developed by Eli Lilly (NYSE: LLY), could be used to treat the deadly virus disease afflicting the globe.
Digital Assets: Cubans Take to Cryptos Amidst Food Shortage; Over 2,500 Austrian Merchants to Accept Cryptos
Cuba is grappling with a national food crisis stemming from Venezuela’s decision to cut off its aid to the country. Problems have been compounded by the nonavailability, due to the virus, of cash couriers and “mules” that are a critical part of the financial and supply chain in the island nation. The socialist regime at the helm of Cuba’s affairs has instructed the people to grow food on every available patch of land. Hapless citizens are increasingly using cryptocurrencies in place of cash and as a hedge against inflation.
Venture Capital: Food Delivery Start-Up Postmates Sells Out to Uber for $2.65B
Uber Technologies Inc. (NYSE: UBER) is acquiring food delivery start-up Postmates for $ 2.65 billion in an all-stock deal, according to reports by Bloomberg and the New York Times.
Uber and Postmates had discussed a merger on many occasions over the past four years. However, the current feeding frenzy in M&A deal-making in the food delivery sector probably spurred a closure this time around.
Alternative Investments: The SEC Approves Active ETFs From T. Rowe Price
T Rowe Price (NASDAQ: TROW), the global investment manager with $ 1.1 trillion in assets under management, is making a foray into actively managed ETFs. It announced today that the SEC had granted the remaining approvals necessary for the launch of these ETFs.
“These latest milestones clear the path for T Rowe Price to introduce ETFs in an active management format that has characterized the firm’s investment approach for more than 80 years,” the firm said.
Hedge Funds: Paulson Calls it Quits
John Paulson — hedge fund manager of Paulson and Co. — is officially closing his office to public clients. Paulson and Co. will exclusively function as a family office. Paulson wrote in a letter that he will be returning all investments to clients after closing. John Paulson is known for predicting the housing crisis and…
Venture Capital: Health Data Analytics Platform Evidation Raises $45M
Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers health information on scale and with speed. The company just raised $45 million in a Series D round.