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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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Inevitable That Central Banks Will Start Issuing Digital Currency: Fed’s Harker
A digital central bank currency could be in the works after the implementation of the new FedNow real-time payments system.
America’s own digital central bank currency is all but ‘inevitable,’ said Patrick Harker, Philadelphia Fed Reserve president.
Three Takeaways from the New KKR Consumer Report
The report examines consumer behavior at this point in the economic cycle KKR has posted a new report titled The New Consumer. Paula Campbell Roberts, the Director of Global Macro and Asset Allocation Team, lead the KKR research. The report examines the condition and behavior of the consumer at this stage of the economic and…
Park Square Capital: Private Credit Investors in Favor of ESG-positive Deals
Park Square Capital, a US$10 billion investor in private credit, is a signatory to the UNPRI.
ESG in private credit deals is making steady progress as investors wise up to the risks from ignoring Environment, Social, and Governance (ESG) criteria.
UBS: Fintech Darling Robinhood’s Business Model in Serious Jeopardy
Robinhood has a $7.6 billion valuation thanks to its strong support from Millennials. Launched in 2013, the Fintech startup undercut discount brokerages with free trades and a sleek look that attracted first-time investors.
Blackrock Hires New HR Chief (And Other People on the Move)
BlackRock hires always generate headlines. The latest high-profile news is that the world’s largest asset manager has appointed Manish Mehta to the role of global head of human resources. Reuters first reported the news after accessing a company memo. He will also join the company’s global executive committee and will report to BlackRock head Larry Fink.
Vista Equity Partners May Sell Partial Stake in Fintech Giant Finastra
Vista Equity Partners may look to sell up to 50% of its stake in Fintech firm Finastra. The private equity shop could reach a deal worth more than $10 billion, including debt. Reports indicate that Vista Equity Partners is working with Goldman Sachs to locate potential buyers.
Bitcoin Beat Tech Stocks This Year; Yes You Heard That Right
Bitcoin is the best performing asset year to date. After a power-packed rally during the first nine months of the year, the crypto is up 114% at $8,308.
In comparison, ‘also-ran’ traditional investments fared as follows: Tech stocks +31%; S&P500 +21%; Gold +17%; 10-year T-bond +1.6%.
Had it not been for a recent correction from the high of $12,900 in June, Bitcoin’s returns might have been even more impressive.
Hedge Elliott Management May Join Apollo Global Management to Save EP Energy Corp.
The EP Energy bankruptcy might have a pair of saviors. Apollo Global Management and Elliott Management have put together a rescue plan for the bankrupt firm. A deal would allow Apollo to keep control of the oil and gas developer.
Apollo Decentralized Exchange Enters Beta Trial for Digital Assets
The Apollo Decentralized Exchange (DEX) is open for business. Apollo Foundation has announced the launch of what it calls “a proprietary software package for the exchange of digital assets in peer-to-peer networks.”
Private Equity Giant KKR Announces Special Situations Fund III
Private equity giant KKR & Co wants to raise $1.5 billion for its third special situations fund. Reuters reported the June registration of KKR Special Situations Fund III. The private equity firm said during its Q2 conference call that it planned to raise capital for a new special situations fund.
Hedge Fund Manager David Tepper Lays Out Family Office Plan
David Tepper, the billionaire hedge fund manager, will soon return capital to investors as he shifts toward a family office. However, Tepper will continue to manage money for 15 lucky investors.
Federal Reserve’s Harker: The Fed Will Have a Digital Currency (One Day)
Digital currency may come to the Federal Reserve in the future. Philadelphia Federal Reserve President Patrick Harker expects that the U.S. central bank will begin issuing a digital currency.
John McAfee Invents Something on Blockchain
McAfeeDex is poised to launch on Monday. Bitcoin advocate John McAfee announced the launch of his latest crypto project on Friday.
Peter Thiel’s VC Firm is Suing “Winnie Cooper’s” Sister
Crystal McKellar played Becky Slater on The Wonder Years. Her older sister is Danica McKellar, who played Winnie Cooper. And today, she faces a breach of contract lawsuit from Peter Thiel’s Mithril Capital Management. Put on your seatbelt…
Mall REITS Reeling after Forever 21 Bankruptcy
Forever 21 is just the latest retailer to file bankruptcy and announce a wave of store closings. The news will impact Real Estate Investment Trusts that own mall properties (Mall REITs).
Waratah Capital Advisors’ New Liquid Alternative Mutual Fund
The Waratah Alternative Equity Income Fund gives investors access to one of the Group’s flagship strategies and star portfolio manager Jeannine LiChong.
The Waratah Alternative Equity Fund is the firm’s first liquid alternative mutual fund. It is a long-biased, actively managed portfolio of North American equities, with a focus on Canada. The fund can use options and short positions for risk protection.
Mutual Fund Giant Vanguard to Test P2P FX Trading with Blockchain
Mutual fund giant Vanguard Group has started testing a peer-to-peer FX trading platform. The experiment is part of a partnership with Symbiont.
PayPal is AWOL at Libra Association Meeting on Digital Assets
Paypal was a prominent absentee at a crucial strategy meeting of the Libra Association held in Washington Thursday.
The 28 member Libra Association backs Facebook’s globe-spanning plan for the Libra digital currency. According to a report in the Financial Times, the agenda for the meeting was the global groundswell of regulatory opposition to Libra.
A person familiar with the event confirmed to the FT that all members showed up for the meeting except PayPal.
Oil Rich Norway’s Government Pension Fund Slashes Exposure to… Oil Production
Norway’s Government Pension Fund Global, Oslo, will cut its exposure to upstream energy production. The pension fund will cut 50 billion Norwegian kroner ($5.5 billion) in equity allocation from its investment portfolio.
IndexIQ And Nasdaq Dorsey Wright Tie Up to Offer A Liquid Alternatives ETF Model
IndexIQ launched the IQ Alternative Allocation Model, the first liquid alternative model on its platform, in collaboration with Nasdaq Dorsey Wright.
The IQ Alternative Allocation Model provides an absolute return strategy built around IndexIQ’s suite of liquid alternative ETFs.
TradeStation Announces TSgo and Commission-Free Trading
The online platform will charge less than TDAmeritrade on a per-contract basis for options TradeStation, the online broker-dealer, has joined in the zero-commission trading frenzy. The company will begin offering commission-free trading to customers who use its web and mobile platforms for exchange-listed stocks, options and exchange-traded funds (ETFs). It will still charge $0.50 per…
Finablr And Samsung Pay Announce New Fintech Money Transfer Service
For the first time in the US, a Samsung Pay user can transfer money internationally to 47 countries using their mobile.
Finablr, a UK-based and listed fintech, has partnered with Samsung Electronics to offer secure cross-border payments within Samsung Pay, the native mobile wallet. The consumer simply initiates the Money Transfer tool inside the app.
The DailyAlts PlayBook – October 4, 2019
Today, the DailyAlts Playbook talks about the robot apocalypse on Wall Street, the Forbes 400, Zuckerberg’s billionaire statement, and LaVar Ball (sorry about that). The markets are in the red this morning as investors prepare for a fresh round of U.S. economic data.
Automaker Ford Using Artificial Intelligence To Optimize Daily Driving
Ford has developed an Artificial Intelligence-driven database that will accelerate its transition from automaker to a mobility company.
It is accordingly partnering with American cities to solve mobility challenges. City Insights is Ford Mobility’s artificial intelligence-based collection of decision-enabling tools, custom algorithms, and data services.