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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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Ex-Infosys CEO Vishal Sikka Wants To Bring AI to India’s Masses
Ex-Infosys CEO Vishal Sikka believes India can become the Artificial Intelligence (AI) capital of the world. AI could be a massive disruptor in India over the next 20-25 years, says Sikka. Automation and job losses would only be the tip of this iceberg. Instead, India could seize the initiative and turn the disruption into an opportunity by putting together educational programs.
Preqin and Vertex VC Report Shows $1 Trillion Market on Tap
A new Preqin and Vertex VC Report indicates robust growth ahead for the venture capital markets. Preqin and Vertex launched the joint research report called the Global Venture Capital Perspectives report on Wednesday.
Investors in Ripple’s XRP Rely on SEC Guidance To Claim It Was An ‘Unregistered Security’
Investors amended their complaint in a May 2018 lawsuit regarding the XRP cryptocurrency, relying on SEC’s guidance on digital assets. The SEC’s Framework for “Investment Contract” Analysis of Digital Assets has given a group of plaintiffs more power to their elbow in a May 2018 lawsuit. Accordingly, the investors have amended their complaint based on…
Yale University Researchers Say AI Will Weigh Stomach (GI) Disorders
Yale University researchers have determined that artificial intelligence could provide patients with stomach disorders better treatment.
Citadel Launches Zurich Office (And People on the Move)
Hedge fund Citadel is launching a new office in Zurich. The new space will host its marketing-arm, Citadel Securities, according to the firm. This division is one of the world’s top shops for high-frequency trading.
Paying Off Student Loan Debt Most Significant Life Milestone for 35% of Millennials
Millennials valued paying off their student loans even more than buying a house or starting a family. That’s a finding on student loan debt from a survey by personal finance company SoFi of over 1,000 Americans aged from 22 to 35.
Richard Grossman: Preparing for Shareholder Activism On Your M&A Deal
Richard Grossman, a partner in Skadden’s M&A practice, has advice on tackling activist hedge funds during an M&A transaction.
Burning Through Cash, WeWork Turns to Goldman
Is WeWork running out of money? According to Bloomberg, WeWork (or We Co.) burning through the green stuff at a torrid pace.
What’s the Matter With Chinese Private Equity?
Chinese private capital dealings slumped dramatically in the first half of the year. A new report from the Emerging Market Private Equity Association reveals startling figures on the state of the Chinese market.
Blackstone Chief Schwarzman: Private Assets Valuations Too High, Bubble-like
Stephen Schwarzman, the co-founder, chairman, and CEO of the Blackstone Group said dot.com like conditions prevailed in the startup industry. He said asset valuations had reached bubble-like proportions and that there could be a painful reckoning of losses from investing in companies such as Uber and WeWork.
GSAM European ETF Ready for Lift Off
The GSAM European ETF is a sign that Goldman Sachs expanding its role on the passive investing craze. Here’s the latest news on the ETF launch on Thursday.
Goldman CEO David Solomon: Time for ESG Investing to Go Mainstream
Goldman CEO David Solomon said that financial institutions need to push ESG investing into the mainstream. During a talk at the Bloomberg Global Business Forum, Solomon encouraged advisers to ramp up conversations with clients about climate change and the associated exposure.
eVestment: August 2019 Redemptions Top $6.5 Billion
August 2019 redemptions from hedge fund hit $6.51 billion for global hedge funds, according to eVestment’s newest asset flows report. The additional outflows drove the total withdraws from hedge funds to negative ($63.61) billion in 2019.
Big-Name Institutional Investors Join Hands for Carbon-Neutral Portfolios by 2050
Announced at the UN Secretary-General’s Climate Action Summit in progress in New York, the Alliance will address climate change and low-carbon portfolios.
Elliott Management Tells Marathon Oil to “Split Into Three”
Paul Singer owned Elliott Management, an activist investor, sent a letter and presentation to Marathon Petroleum.
Elliott Management demanded of Marathon’s board that the company split into three separate businesses, thereby unlocking value worth $22 billion.
Salad Chain sweetgreen Raises $150 Million
Salad restaurant chain sweetgreen, which has a cult-like following, raised $150 million at a valuation of $1.6 billion.
The funding round was co-led by Lone Pine Capital and D1 Capital Partners. Existing investors also participated.
Australian Watchdog Orders Audit of Paypal for Lapses in Money Transfers
Austrac suspects that Paypal had not met reporting obligations regarding anti-money laundering and counter-terrorism financing laws. An external auditor will conduct Austrac’s audit of Paypal and report to Austrac within 120 days. However, Paypal will pay for the audit.
As Losses Pile Up, Woodford Fund Suspension Extended By 28 Days
The Woodford Equity Income Fund is bleeding but remains suspended.
Fund administrator Link Fund Solutions confirmed the Woodford fund suspension would continue for another 28 days regardless of losses.
After completing the fourth 28-day review, Link said it had decided that it “remains in the interests of all investors for the suspension of dealings to continue.”
Activist Investors Push Out eBay CEO Devin Wenig
CEO cites disagreements with his board as activist pressures intensify Activist investors have pushed out CEO Devin Wenig. In a Tweet marked Wednesday, Wenig cited disagreements with fellow board members over the company’s future. “In the past few weeks it became clear that I was not on the same page as my new Board,” he…
Deutsche Bank will transfer prime broking and electronic equities to BNP Paribas
Deutsche Bank has agreed to migrate key clients, human resources, and technology in prime broking and electronic equities to BNP Paribas.
Deutsche Bank prime brokerage clients, primarily hedge funds, are unlikely to see any disruption from this arrangement. That’s because the two banks have agreed to provide “continuity of service” to these clients.
Some Hedge Funds and Airlines to Gain from Thomas Cook’s Collapse
Hedge funds that used credit default swaps to bet on Thomas Cook’s collapse will make a lot of money.
The 178-year old travel operator, Thomas Cook’s collapse, will lead to the loss of 21,000 jobs. Besides, more than 150,000 tourists are stranded across the world at vacation spots.
WeWork CEO Adam Neumann Steps Down; Company May Cut 5,000 Jobs
WeWork’s founder and chief executive officer has stepped down as CEO but will continue as non-executive chairman.
WeWork’s Adam Neumann said he had decided it was in the best interest of the company to step down as chief executive.
Neumann said the business was strong but that he was distracted by the intense media scrutiny directed at him.
WeWork CEO Neumann facing boardroom coup?
WeWork CEO Adam Neumann may be forced out if some members of his company’s board have their way, reports Bloomberg.
According to unnamed sources, SoftBank Group head honcho Masayoshi Son was pushing for Neumann’s exit.