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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: China’s 6G Plans Could Power an AI-Enabled Military
China’s military is developing 6G internet to power an AI army of the future. Mobile 6G (sixth generation) technology is 10X faster than 5G, which in turn has 10 times the transmission speeds from the widely used 4G. The 6G technology is far superior to 5G and is said to have immense potential for military applications, especially AI-related. Since November, China has two teams working on 6G and is spending billions to make its military a cyber-force.
Liquid Alternatives: “ETFs’ Finest Hour” – Dave Nadig
Are stock ETFs a source of risk in the current environment? How did they perform under the weight of enormous flows, both in and out? These and other issues figured in a chat on “The Compound” between ETF Trends CIO and Director of Research Dave Nadig and Barry Ritholtz, Chairman and CIO of Ritholtz Wealth Management.
The DailyAlts Playbook: Incentives for Work, Crude Crushed, Monty Bennett Keeps the Money, and Cuomo’s Collective
We start this morning with Scott Minerd’s take on the V-shaped recovery, unintended consequences of fiscal and monetary policy, and the moral hazard facing our economy.
The CIO of Guggenheim Partners dropped his latest insights in the middle of the night, and they’re quite jarring. If you don’t know Minerd, be sure to read his analysis during the COVID crisis.
Venture Capital: Starbucks Strikes Deal with Sequoia on Chinese Investment Partnership
Starbucks Corporation (NASDAQ: SBUX) has launched a partnership with venture capital firm Sequoia. The two companies will co-invest in China and look to launch “commercial partnerships with next-generation food and retail technology companies.”
In a statement, Starbucks said it will provide retail expertise, infrastructure, and scalability to targeted companies.
Venture Capital: M&A Deals to Dive Amidst Buyer’s Market, Says BI Survey of VCs
As prospects for IPOs dry up, the only other option for startups looking for exits is a Merger & Acquisition (M&A) transaction. Startups are staring at uncertain funding, recessionary conditions, and falling valuations, hence more of them are looking for an out.
Private Equity: KKR Buys Stake in Mirastar
Private equity firm KKR is continuing to invest across Europe during the global economic shutdown with a stake in Mirastar.
In its latest move, KKR is taking a stake in the developer, investor, and manager of industrial and logistics assets in Europe. Initially and Mirastar have acquired a 49,000 sqm forward funding project in the Netherlands. They intend to continue working together to assemble a portfolio of high quality industrial and logistical assets in gateway cities in Western Europe.
Private Equity: Northwestern Studies Industry’s Crisis Reaction
Filippo Mezzanotti, an Assistant Professor of Finance at the Kellogg School of Management at Northwestern University, has been studying how private equity fares in a crisis.
He examined data from nearly 500 PE-backed companies in the United Kingdom before and after the Great Recession. He and his research team found that d that PE-backed companies weathered the crisis better than other companies.
Alternative Investments: Washington State Investment Board Makes Allocations
The Washington State Investment Board has committed up to $1.9 billion in new infrastructure, private equity, and real estate investments. The board oversees pension as well as other state assets. They have had an outsized commitment to private investment for several years. Washington State Investment Board Allocations Washington only has about 33% of its portfolio…
Venture Capital: DMV Invests $10M in Laird Superfood
Danone Manifesto Ventures (DMV) will pay $10 million for a minority stake in The Sisters, Ore.-based Laird Superfood. Laird creates and markets plant-based superfoods such as creamers, coconut water, nutrition powders, drink mixes, and plant-based sugars.
FinTechs: UK Fintechs Want to Help With CBILS Loans
UK fintechs hope to reach coronavirus loans, introduced by the government as a business relief measure, to struggling businesses quicker than traditional lenders. They have approached the British Business Bank (BBB) for authorisation to lend under the U.K.’s Coronavirus Business Interruption Loan Scheme (CBILS).
Digital Assets: Crypto Lender dYdX Sees Sharp Spike in Business Due to Virus
Coronavirus-related market volatility lent a huge boost to the lending activity of crypto lender dYdX. About 70% of the total amount of $ 1.14 billion which it lent over the past 12 months was borrowed during the virus-stricken months of February and March.
Artificial Intelligence: MIT CSAIL Researchers Find a Way to Reduce Emissions From AI
Researchers at MIT Computer Science and Artificial Intelligence Laboratory (CSAIL) have found a more environmentally friendly way to train and operate AI models. By improving computational efficiency, they claim they can significantly reduce the amount of carbon emissions from that AI.
ESG: Morningstar Announces Deal to Buy Sustainalytics to Boost ESG Support
Morningstar, (Nasdaq: MORN) announced an agreement to acquire Sustainalytics, a globally recognized leader in environmental, social, and governance (ESG) ratings and research.
Morningstar currently owns an approximate 40% ownership stake in Sustainalytics, first acquired in 2017. Under the terms of the deal, Morningstar will buy the remaining approximate 60% of Sustainalytics.
Hedge Funds: The Activist Leaves the Building
Frank Tuil is departing Elliott Management more two decades at the firm. The legendary French investor helped Elliott position itself as a top activist shop across Europe from the firm’s London office. Investors cheered him and investors feared him. Some of his most notable activist campaigns included efforts at French spirits maker Pernod Richard and…
Real Estate: Navigating the Perfect Storm for Commercial RE
This is the perfect storm for commercial real estate markets in the United States.
As 2020 started, the consensus opinion was that commercial real estate might see a slowdown in growth rates. However, thanks to an economy that was growing slowly but growing and low-interest rates, CRE would still be an attractive investment opportunity.
Venture Capital: Home Equity Financier Noah Goes From a $5M Round To $150M in Seven Months
San Francisco based startup Noah allows homeowners to cash their home equity in these difficult times. The startup just received $150 million in the form of platform capital which it will use to invest in homes as a portion of their equity.
Digital Assets: Crypto.com Now Adds USD Fiat Withdrawals via Bank Transfers
Crypto.com users can withdraw USD from their App by selling crypto to their USD fiat wallet and transferring USD funds from this wallet to their U.S. bank account(s) on the Automated Clearing House (ACH) network. This is a frequently requested feature that further strengthens the utility of the Crypto.com platform,” the cryptocurrency company wrote in a blog.
FinTech: Fintechs May Not Get a Large Enough Chunk of PPP Disbursements
Fintechs are disappointed with the limited role they have played in getting Paycheck Protection Program loans into the hands of the smaller businesses. The first tranche of $349 billion in potentially forgivable loans meant for small businesses across the country was fully disbursed within just two weeks. Even though Treasury Secretary Steve Mnuchin had promised fintechs a role in paying out these loans, the Small Business Administration (SBA) only allowed traditional banks to make these loans by the time the money ran out.
Artificial Intelligence: Self-driving Vehicles – the Ace up Tesla’s Sleeve
Tesla’s major advantage over other self-driving vehicles is hiding in plain sight (pardon the pun).
Tesla (NASDAQ: TSLA) uses a vision-based approach that combines its cars’ suite of cameras and AI to navigate in self-driving mode. On the other hand, autonomous rivals such as Waymo and Cruise rely on LiDAR, a technology that Tesla CEO Elon Musk is rather dismissive about: “Anyone relying on lidar is doomed.” Tesla AI Director Andrej Karpathy explains the difference in a February lecture.
Liquid Alternatives: Retail Investors Burn Their Fingers in the USO ETF
Most thought the ETF invested in spot oil, while it bought oil futures and rolled them over.
And therein lies the difference, or for a lot of chagrined retail oil investors, a hole in their pockets. The United States Oil Fund (NYSEARCA: USO) took positions in front-month oil futures and rolled them over every month. It did not, as retail investors mostly assumed, invest in the spot oil market.
The DailyAlts Playbook: Peloton Purchases, Elliott Fines in France, Negative $100 Oil, and Blackstone’s Real Estate Portfolio.
THE DAILYALTS PLAYBOOK April 23, 2020 The DailyAlts Playbook: Peloton Purchases, Elliott Fines in France, Negative $100 Oil, and Blackstone’s Real Estate Portfolio. PRIME OVERVIEW Good morning, It’s Christmas here in Estero, Florida. I’ve purchased either my greatest present to myself or the single dumbest one. Time will tell. The golf club on which I…
Private Equity: Blackstone Reports First Quarter Earnings Before the Bell
Blackstone earnings (NYSE:BX) arrived before the bell Thursday. While the private equity firm fell short of analyst expectations, the firm still managed to generate significant cash flows in the quarter. The firm said that they had produced Distributable earnings during the first three months of the year of $.46 a share. The consensus Wall Street…
Alternative Investments: Bank of America Says Gold Will Hit $3,000
The Federal Reserve will drive gold prices to $3,000. That’s a prediction by Bank of America this week. In a report titled, “The Fed Can’t Print Gold,” the bank sees the yellow metal as a smart hedge against inflation. That price target represents an 80% return from the date of Monday’s report.
Private Equity: Where Oil Specialty Funds Go Next
Although oil prices have risen today, the price of oil remains at historically low-price levels. This is an opportunity for deep-pocketed private equity firms that own a diversified portfolio of companies.
However, it is a calamity for those funds that specialize in energy investing.