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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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Elliott Management Bulking Up on Cash
Paul Singer’s Elliott Management, fearing a market meltdown, is raising fresh money from investors.
The activist investor could raise a war chest of $5 billion, according to an investor.
New Law Requires California Pensions to Divest all Turkish Assets
New legislation bars California pensions funds from investing in Turkish assets. Turkish assets are now barred at California pensions. This is because of Turkey’s refusal to acknowledge responsibility for the Armenian Genocide. This tragedy claimed the lives of about 1.5 million Armenians a century ago. However, for funds and pensions, the new law brings to…
Stripe Valued at $35 billion in Latest Funding Round
Payments start-up Stripe raised $250 million in additional funding at a new pre-money valuation of $35 billion.
Investors in the latest funding round of payments start-up Stripe included General Catalyst, Sequoia, and Andreessen Horowitz, among others. The latest valuation makes it one of the most highly valued start-ups in the world.
Responsible Investing in Commodities is Possible: OFI Asset Management
Environment, Social, and Governance (ESG) objectives are not incompatible with commodity investing says an OFI portfolio manager. Certainly, ESG in commodities is possible through proactive asset management, according to Benjamin Louvet, commodities portfolio manager at OFI AM. How the twain shall meet One very simple method is to drop an offending sector or industry from…
CME Group to Launch Bitcoin Options In 2020
CME Group, which introduced futures in bitcoin in 2017, will launch options on the digital currency in 2020.
CME Group’s bitcoin options will enable market participants to hedge or speculate on the cryptocurrency. The new product from CME is an acknowledgment of the increased trading and investing interest in bitcoin.
Private Equity in the Dock for Alleged “Surprise Billing Practices”
A bipartisan Congressional investigation is to determine whether private equity giants are behind price gouging in emergency care.
“Surprise billing practices” are unexpectedly large medical bills from an out-of-insurer-network physician for emergency treatment. These bills could also emanate from an out-of-network physician or ancillary clinician working in an in-network hospital.
University of California: “Fossil Fuel Assets a Financial Risk”
The University of California Pension and Endowment funds will divest all fossil fuel assets.
That’s because fossil fuel and coal and oil sands posed a “long-term risk” to the University of California’s portfolios. Two senior University officials revealed the divestment plans in an opinion piece Tuesday in the LA Times.
EquityMultiple: A Platform for Investors In Opportunity Zones
The EquityMultiple platform facilitates real estate investments in Opportunity Zones that come with tax breaks. Investors fed up with the measly returns in the current environment may consider real estate in Opportunity Zones. Qualified Opportunity Zones (QOZ) bring capital to low-income areas while rewarding investors via tax breaks. The investments can trigger economic development in these areas leading to higher employment.
Swiss Private Bank Launches Digital Asset Services Including for Bitcoin And Ethereum
Arab Bank Switzerland, a leading Swiss private bank, will provide custody and brokerage services for Bitcoin and Ethereum.
The bank will target high net worth clients for the services. It will become one of the first private banks in Europe to offer such facilities for digital assets.
AT&T Considering Options for DirecTV Unit
AT&T may sell DirecTV, among other options, as consumers drop TV connections.
Telecom giant AT&T, which bought DirecTV for $49 billion in 2015, maybe considering a U-turn on the unit.
According to sources in the know, the satellite TV service is seeing a diminishing subscriber base. This trend is a result of consumers ‘cutting the cable cord.’
US Fed Cuts Rates by 25 Bps; Trump Says Fed Has No Guts
As expected, the Fed cut interest rates to sustain the economy but was non-committal on future cuts.
Fed Chair Jerome Powell painted an optimistic picture of the US economy, citing buoyant labor markets and inflation nearing targets.
However, the 25 basis points rate cut addressed ongoing risks such as tepid global growth and trade wars.
Japanese ESG Investments Outperforming Benchmarks
Latest GPIF Report Shows that Sustainability Can Pay Off Japanese ESG investments are doing very well. The country’s $1.47 trillion Government Pension Investment Fund (GPIF) said today that four of five ESG indices topped the Tokyo Stock Price Index (TOPIX) and market averages since April 2017. The GPIF has invested about $32.4 billion of its…
Deutsche Bank Joins JPMorgan Blockchain Project
The project now serves 320 banks around the globe on cross-border payments The JPMorgan Blockchain Project just got another big player in the blockchain game. Deutsche Bank has joined JP Morgan Chase’s Interbank Information Network (IIN). This is the financial industry’s single largest blockchain initiative. The data-sharing product features the connection of 320 banks on top…
Credit Card Startup Petal Arranges $300 Million Debt Facility From Jefferies
Credit card startup Petal, which promises credit for an irresponsible world, expanded its Jefferies debt facility.
Petal had arranged a $30 million debt facility with Jefferies a year ago. The startup is now expanding the arrangement to $300 million for boosting its card program.
Swiss Pension Fund Allocations Hit a Record
Swiss pension funds’ allocations to alternative assets surpass 10% for the first time.
A study by European consultancy Complementa finds that Swiss pension funds have taken to alternative assets in a big way. The primary impetus for this trend appears to be the current low-interest-rate environment.
DevOps giant GitLab raises $268 million in a Series E round
DevOps giant GitLab raises $268 million in a Series E round. The software-cum-ops company said it was valued at $2.75 billion in the funding round
GitLab’s $268 million funding was led by Goldman Sachs and IconiQ Capital. It attracted investments from both existing and nine new investors, including Y Combinator Continuity Fund.
Sony Rejects Loeb’s Proposal to Spin Off the Semiconductor Business
Sony rejects Loeb’s proposal to spin off the semiconductor business.
President and CEO Kenichiro Yoshida wrote to shareholders today saying the company intended to retain the business
Backed by the full Sony board, Yoshida said in the letter that “retaining the semiconductor business is the best strategy for enhancing Sony’s corporate value over the long term.”
CalPERS allocates more than $3 billion to real estate
CalPERS allocates more than $ 3 billion to real estate
The pension continues its core policy to invest in real estate assets using moderate leverage
The amount includes $ 30 million account the vexed Sacramento project with real estate firm CIM. That project, an office block in downtown Sacramento, is still in limbo. CalPERS last week scrapped its contract with CIM.
University of California Sees Assets Under Management Jump $7.4 billion in a year; PE a stellar performer
University of California’s assets under management jump $7.4 billion in a year; PE a stellar performer. The highlight of the University’s investment performance for the year was the impressive return of 27.4% achieved by the Private Equity asset class in the Endowment product, pushing its value up 8.24%.
ESMA warns EU asset managers that all is not well
The European Securities and Markets Authority (ESMA) said asset managers faced a deteriorating industry outlook and very high market risk
In its most recent Trends Risks and Vulnerabilities Report for 2019, ESMA identifies several factors working to the detriment of the EU asset management industry.
Research: High net worth millennials will dump banks and take to fintechs
Pricing strategy specialists Simon-Kucher & Partners find 60% of millennials are not happy with current wealth management services
Banks and wealth managers should find ample cause for concern in the latest research by Simon-Kucher & Partners on millennials.
Marshall Islands to issue its own national cryptocurrency
Marshall Islands snubbed the IMF and overcame initial US Treasury objections to its issue of a state-backed digital currency
The tiny Pacific republic is about to fructify its year-long effort to escape dependence on the US dollar.
Formally known as the Republic of Marshall Islands (RMI), the US associated state will soon issue its own digital currency dubbed the Marshallese sovereign (SOV)
Libra Association chief undeterred by regulatory outcry; says Libra cryptocurrency will launch 2020
Bertrand Perez, General Director of the Libra Association, said Facebook would not delay the launch of Libra
In an interview with online French news site Les Echos, Perez confirmed that the association would launch Libra in the second half of 2020. “We are firmly maintaining our launch schedule,” he said.
Facebook’s Libra: Paypal non-committal in the face of regulatory rumblings
PayPal, a member of the Libra Association, said its membership is “a non-binding commitment”
There is somewhat of an international furor around Facebook’s proposed Libra digital currency. Central banks, financial regulators, and governments are coming out with increasingly negative noises around Libra. Fears swirl around money laundering, adequate regulation, international coordination, and risks to consumers.
PayPal’s comment is significant given earlier rumors that some members of the Libra Association were contemplating backing out.