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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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Liquid Alternatives: Goldman Sachs Moves Alt Fund To In House Quants, Slashes Fees
Goldman Sachs Group Inc. (NYSE: GS) is implementing computer-driven algorithms to manage its Multi-Manager Alternatives Fund, replacing external money managers. The move aims to reduce fees and revive the fund’s diminishing assets. The fund’s name will be changed to Goldman Sachs Multi-Strategy Alternatives Fund.
Artificial Intelligence: The LaserWeeder Uses AI And Lasers To Bust Stubborn Weeds
Seattle-based company Carbon Robotics has developed an AI-powered agricultural tool called LaserWeeder, which utilizes robotics and lasers to eliminate weeds in fields. Weeds are a challenging and time-consuming aspect of farming, and the LaserWeeder offers a fast and accurate solution.
Artificial Intelligence: AI Unearths Valuable Research Insights On Seadragons Near Australia
Seadragons Search is a collaborative research project involving scuba divers across the globe and AI. A collaborative research project called Seadragons Search, which involves scuba divers and artificial intelligence, has revealed that different populations of weedy or common seadragons in the Great Southern Reef of Australia are genetically connected. This discovery contradicts previous theories suggesting…
FinTech: Robinhood Snaps Up X1, Eyeing An Entry Into The Credit Card Business
Robinhood Markets, Inc. (NASDAQ: HOOD) has announced its acquisition of X1 Inc., a San Francisco-based platform that offers a no-fee credit card with rewards on purchases. The acquisition is a significant step towards expanding Robinhood’s product offerings and strengthening its relationship with existing customers.
Venture Capital: Andreessen Horowitz Floats New ‘Perennial’ Venture Capital Fund
Andreessen Horowitz, a renowned venture firm that has invested early in major tech companies like Airbnb (NASDAQ: ABNB) and Coinbase (NASDAQ: COIN), has launched a new fund called a16z Perennial Venture Capital Fund. The firm aims to sustain its growth despite the slowdown in traditional venture capital funding. The evergreen fund will operate from Andreessen Horowitz’s Menlo Park office and has been registered with the U.S. Securities and Exchange Commission.
Digital Assets: The BlackRock ETF Filing; BTC At $30,298; Are The Stars Lining Up For Bitcoin?
A spate of positive news appears to have the bitcoin bulls up and running again. The plausible trigger is the innovative spot bitcoin ETF filing from BlackRock (NYSE: BLK) that the crypto market is hoping would get a green signal from the SEC. Enthusiastic bulls expect that to be a seminal event that could finally draw the curtains on the “crypto winter” that commenced in November 2021.
Digital Assets: BlackRock’s Spot BTC ETF Filing Triggers Buying Interest In The Grayscale Bitcoin Trust (GBTC)
The Grayscale Bitcoin Trust (GBTC) is approaching its highest levels of 2023 following news of BlackRock’s filing for a Bitcoin spot price exchange-traded fund (ETF). This development has generated institutional buying interest in the Grayscale Bitcoin Trust (GBTC), with hopes that BlackRock will secure the first U.S. Bitcoin spot ETF.
Alternative Investments/ESG: Defiance Launches EV-Focused ETF
Defiance, a leading ETF provider, has launched the Defiance Pure EV ETF (EVXX), the first ETF in the electric vehicle (EV) sector to focus solely on EV manufacturers. This ETF aims to provide investors with direct and concentrated exposure to the fastest-growing EV companies, capitalizing on the increasing adoption of EVs globally.
Venture Capital: Seedstars and Fondation Botnar Set Up $20M Fund For Young African Founders
Seedstars Capital and Fondation Botnar have partnered to launch the Seedstars Youth Wellbeing Ventures mandate. They plan to invest $20 million in early-stage companies that aim to improve the wellbeing of young people in low- and middle-income countries in Africa.
Artificial Intelligence: JLR To Troubleshoot Supply Chain Issues With AI From Everstream Analytics
On Monday, JLR announced a partnership with Everstream Analytics, a company specializing in supply chain mapping and risk analytics. This collaboration will involve integrating artificial intelligence into JLR’s system with the aim of preventing future global supply issues.
FinTech: Molten Ventures Prunes The Value Of Its Investment In Revolut By 40%
Revolut, the London-based challenger bank, has suffered another blow to its valuation as Molten Ventures, a tech-focused investment firm, has chopped the valuation of its stake in the company by 40%. This comes after Schroeder, a global asset manager, devalued Revolut by 46% in April, and TriplePoint Venture Growth cut its valuation by 15% a month earlier.
Venture Capital: Indian Eyewear Startup Lenskart Nabs $100M From ChrysCapital
Lenskart, the Indian eyewear brand, has secured $100 million in funding from private equity firm ChrysCapital through primary and secondary share sales. This investment follows a series of capital infusions totaling nearly $850 million in the past year, further supporting Lenskart’s growth plans and solidifying its position as a global leader in the eyewear industry.
Digital Assets: BlackRock Files For Spot Bitcoin ETF
BlackRock (NYSE: BLK) has submitted an application to the US Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF). If approved, it would become the first publicly traded spot bitcoin ETF in the US, trading on the Nasdaq stock market. BlackRock already operates a private spot bitcoin trust and the ETF would further strengthen its partnership with Coinbase (NASDAQ: COIN), which would act as the custodian for the fund’s bitcoin.
Artificial Intelligence: CEOs Fear AI’s Threat To Humanity (Yale CEO Survey)
A survey conducted at the Yale CEO Summit reveals that 42% of CEOs are concerned that artificial intelligence (AI) could destroy humanity in the next five to 10 years. However, the survey, which gathered responses from 119 CEOs across different industries, indicated a variation of views on the risks and opportunities associated with AI. (Mint)
Venture Capital: France-Based Gigafactory Startup Verkor Is Preparing To Reveal A Fundraising Campaign Worth €2B (US$2.18B)
French gigafactory startup Verkor is on the verge of closing a significant fundraise, aiming for an €800 million Series C round of equity and over €1.2 billion in debt. The new funding would position Verkor as one of the best-capitalized gigafactory startups in Europe, second only to Swedish battery maker Northvolt.
Artificial Intelligence: The European Union Approves Draft Legislation To Govern AI
The European Union has moved significantly closer to enacting pioneering legislation that would regulate artificial intelligence, marking a significant milestone in global AI governance.
Digital Assets: (CoinDesk Exclusive) BlackRock May File For A Bitcoin ETF
According to a reliable source, BlackRock (NYSE: BLK), the largest asset manager in the world, is on the verge of submitting an application for a Bitcoin ETF (exchange-traded fund), CoinDesk reported. It is not yet clear, however, whether the proposed ETF is spot or futures-based.
Alternative Investments/ESG: Amundi Launches Euro Government Tilted Green Bond UCITS ETF
Amundi, a leading European asset manager and ETF provider, has announced the launch of a new Euro Government Tilted Green Bond UCITS ETF as part of its expanded Fixed Income ETF range. This ETF offers investors a unique approach to shift their core Euro government bond investments towards a responsible exposure.
FinTech: Private Equity In The Fray To Acquire Goldman’s Greensky
Goldman Sachs (NYSE: GS) is facing a significant loss as it unwinds its acquisition of specialty lender GreenSky, signaling its retreat from its Main Street ambitions. Investment firms including Apollo, Sixth Street, and Warburg Pincus have submitted initial bids valuing GreenSky at a mid-nine-figure amount.
Venture Capital: French AI Startup Mistral Scores Europe’s Largest-Ever Seed Round
Mistral AI, a French start-up founded by former researchers from Meta (NASDAQ: META) and Google (NASDAQ: GOOGL), has raised a record-breaking €105 million (US$113.7 million) in Europe’s largest-ever seed round. The funding round was led by Lightspeed Venture Partners, with participation from notable investors such as Eric Schmidt, Xavier Niel, and Bpifrance.
Artificial Intelligence: A 2021 Study Reawakens Fears That A Super-Intelligence Would Be Uncontrollable
A number-crunching study conducted back in 2021 suggests that it will be extremely challenging to control a super-intelligent artificial intelligence (AI). The researchers argued that if we cannot comprehend the capabilities of a super-intelligence, it becomes impossible to create a simulation to analyze and control it.
Alternative Investments/ESG: Giant Finnish Pension Fund Ilmarinen Invests Nearly $3B In Climate ETFs
Ilmarinen Mutual Pension Insurance, the Finnish pensions insurer, has significantly increased its collaboration with ETFs by investing €2.75 billion (US$2.97 billion) in climate-focused exchange-traded funds. The move reflects the company’s commitment to aligning its passive equities exposure with its climate goals. Ilmarinen, which manages a pension fund worth €57.5bn and provides pensions through private-sector employers, has become the anchor investor in two new climate-focused iShares ETFs launched by BlackRock in the US and Japan.
Digital Assets: Censo Emerges From Stealth With Mobile-Based Custody Of Digital Assets For Enterprise
Censo, a cryptocurrency storage company, has introduced a mobile phone-based self-custody solution for institutions and smaller organizations. This offering, according to Censo, is simpler to use and more affordable compared to existing technologies.
Venture Capital: Salesforce Ventures Adds $250M To Its Generative AI Fund
Salesforce Ventures is increasing its Generative AI Fund from $250 million to $500 million in order to support the AI startup ecosystem and promote responsible generative AI development. The fund has also expanded its network of AI innovators by adding Humane and Tribble.