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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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Preqin Report: Five Straight Quarters of Hedge Fund Outflows
New report shows net outflows yet again in Q2 A Preqin report tracking hedge fund outflows showed more bad news for firms. For the fifth-straight quarter, net outflows hit managers. Preqin says that funds saw $25.3 billion exit hedge fund shops in Q2 2019. This is according to the Q2 2019 Hedge Fund Asset Flows factsheet….
Jana Partners May Push for Bloomin’ Brands to Sell
Activist fund discloses new stake in Outback Steakhouse Owners Jana Partners disclosed a 9% stake in Bloomin Brands (NASDAQ: BLMN) on Friday. Barry Rosenstein’s shop is one of the most prominent activist hedge funds in the business. Don’t be surprised to see them push for new changes, including a sale of assets in the near…
Leading global macro fund to launch $1 billion crypto fund for institutions
Elwood Asset Management, backed by billionaire Alan Howard, will launch an institutional crypto hedge fund that could raise as much as $1 billion
Elwood manages the personal crypto assets of Mr. Howard and has performed due diligence on crypto hedge funds to establish the quality of governance and security.
Ray Dalio: An Economic Downturn Could Lead to Depression-Like Conditions
Ray Dalio, the founder of Bridgewater Associates, the largest hedge fund in the world, has painted a grim picture of current economic conditions
Writing on LinkedIn, Dalio said a trifecta of high global debt, weak central banks, and trade wars could result in a downturn that could hammer investors’ fortunes.
CalSTRs Bets Big on Private Equity in H1 2019
Blackstone receives a big sum from the nation’s second-largest public pension fund. CalSTRs is doubling down on private equity investments. The retirement pension fund manages $241.3 billion for teachers and other public beneficiaries. The group also invested $5.5 billion across 30 different private equity vehicles, according to the Wall Street Journal’s review of its documents….
Baton Systems Raises $12 Million in Series A Round
Trinity Ventures leads round with participation from Alsop Louie and Commerce Ventures Baton Systems has raised more than $12 million. The provider of high-speed, blockchain-inspired, bank-to-bank payments infrastructure, aims to increase processing times in the $2 trillion payments market. “This investment provides us with the strategic support and firepower to scale our bank-to-bank payment solution…
Google parent Alphabet forays into ‘tech-enabled infrastructure’ with Ontario Teachers
Alphabet, its subsidiary Sidewalk Labs LLC, and Ontario Teachers’ Pension Plan join in setting up an infrastructure holding company
The new firm, Sidewalk Infrastructure Partners (SIP), will invest in projects over $100 million in value in the fields of advanced mobility, energy, water and waste, digital infrastructure, and social infrastructure.
ThoughtSpot, an AI-powered, Data Analytics Startup, Raises $248 Million
The latest funding round takes Thoughtspot’s valuation to $1.95 billion and total funding to $554 million
Thoughtspot, which was founded in 2012 by Indian-origin tech entrepreneurs, is a US-based data analytics provider that uses artificial intelligence in its operations.
Alto Receives Seed Funding from Family Office
Alto wrapped up a $5.4 million seed fund round led by led by Jefferson River Capital, the family office of Tony James, Executive Vice Chairman of Blackstone
Also participating in the lead was Moment Ventures, a Palo Alto-based venture capital firm.
Other seed-round investors were Foundation Capital, Sequoia’s Scout Fund, and Amplify.LA.
Shanghai: 2019 World Artificial Intelligence Conference
The Shanghai expo on artificial intelligence commenced Thursday with plenty on the cards: A debate between Jack Ma and Elon Musk, deal-making and networking
The highlights of the conference so far, on Day 1 of the three-day conference:
The American Investment Council Lists PE as Top Asset for Pensions
In an impressive run, PE has topped the returns table at pensions for seven consecutive years.
A study by the American Investment Council (AIC) of 165 US public pension funds that represent over 20 million public sector workers and retirees found that private equity (PE) has been a star-performing asset class.
Chinese Artificial Intelligence Start-Up Megvii Filing for $ 1 Billion IPO
Undeterred by the political turbulence in Hong Kong, Megvii Technology is going ahead with an initial public offering on the Hong Kong Stock Exchange
The China-based artificial intelligence start-up, which was recently valued at about $ 4 billion in its latest funding round in May, appears to be confident that the supercharged political environment in Hong Kong and jittery global markets will not affect its capital float.
The Libra Association Announces $10,000 Bug Bounty for Libra
The Libra Association has launched a bug bounty program that will reward up to $10,000 for a critical flaw found in the testnet code of its Libra stablecoin
The Libra Association, tasked with processing Libra transactions and maintaining the digital currency’s underlying blockchain, has expanded the scope of testing its code for bugs.
For the initial beta bug testing, conducted when Libra first launched, the Association invited 50 security researchers with blockchain expertise. This private program has now been thrown open to the public with rewards promised to anyone finding a bug in the code.
Hedge Fund Starboard Value Gets Papa John’s a New CEO
Rob Lynch, the Arby’s executive behind the “We have the meats” campaign is the new CEO of Papa John’s International. Hedge fund Starboard Value invested $250 million earlier this year into Papa John’s International. As the stock slumped thanks to weak same-store sales and PR damage from its founder, Starboard pressed a turnaround plan. Today,…
Preqin Survey: Alternatives investors wary of ‘toppy’ markets
According to the Preqin Investor Update on Alternative Assets H2 2019, a rising number of investors believe that equity markets are at a top and likely to correct
Preqin, the data provider specializing in alternative assets, surveyed 177 institutional investors in July 2019 to gauge investor sentiment across various alternative asset classes.
According to the report, investment enthusiasm for alternative assets remains undiminished, with industry AUM at $9.5 trillion as at end-2018. Though investors’ outlook on the future performance of alternatives remains optimistic, this may not last.
Peter Thiel’s Founders Fund Exits Stake in Facebook.
The Founders Fund, which backed Facebook from its earliest days, has exited its stake in the social media company. The decision was part of a broader plan from the venture capital firm’s trading partner. The announcement came in an SEC filing on Monday, Reuters reports. Thiel now owns 63,550 Class A shares both independently and…
World’s Largest Asset Manager: CEOs Should Not Serve on Other Boards
BlackRock voted against 94 CEOs who wanted to serve on more than one board outside their company The world’s largest asset manager is taking aim at chief executives who sit on the board of directors of different companies. In a 32-page report, the company showed it had voted against 94 different CEOs who ran for…
The 30-Year Bond Yield Falls Below the S&P 500 Dividend Yield
The last time that happened was at the depths of the financial crisis in 2008-2009
Treasury bond yields are plunging because investors are bidding up bond prices in a rush to safety from macroeconomic fears such as trade wars and geopolitical turmoil. When bond prices rise, yields fall.
The Top 10 Sizzling AI Startups
Innovative AI start-ups out of the CRN Emerging Vendors 2019 list
These companies were asked by CRN to describe the AI features and functions of their products.
Global Reserve Currency: Mark Carney Pitches Crypto Replacement to U.S. Dollar
Bank of England governor Mark Carney wants to switch to a “Synthetic Hegemonic Currency” as a means to stabilize global financial systems
Trade and currency wars have rocked global financial systems in recent times. In a speech at Jackson Hole, Carney proposed the creation of a “Synthetic Hegemonic Currency” (SHC) that would replace the US dollar as the global reserve currency.
Post-Swiss Trip, Maxine Waters is Still Not Convinced on Facebook’s Libra
Congresswoman Maxine Waters, the Chairwoman of the House Financial Services Committee, went on a bipartisan trip to Switzerland for an in-depth understanding of Facebook’s proposed Libra stablecoin
The exploratory trip, partly coordinated by the Swiss Government, was organized to visit Libra’s Swiss headquarters as well as the Swiss Parliament.
PNC Investments Creates List of Recommended Liquid Alts Funds
PNC collaborates with Morningstar on new liquid alts project PNC Investments has launched a recommended list of liquid alternative mutual funds. The broker-dealer arm of PNC Financial is creating the PNCI Liquid Alternatives Conviction list consists of 18 open-ended mutual funds. The firm’s five-person diligence team collaborated with Morningstar’s manager selection team to build the…
Look Ma, No Banks. Small Business Bernal Cutlery Shop Issues SMBX Bonds Instead
Small businesses getting the go-round from banks now have an alternative: Issue bonds on the SMBX platform
Bernal Cutlery, a well-known cutlery shop in San Francisco, raised $130,000 within two weeks by floating a small business bond on SMBX, in what is claimed to be the world’s first such issue.
Sumitomo Mitsui Trust Asset Management to Open NYC Office
The new office will start with 10 employees and follow the blueprint of its London operations Sumitomo Mitsui Trust Asset Management (SMTAM) will open an office in Manhattan as soon as 2020. Japan’s largest asset manager, with $600 billion in AUM, plans to start with a staff of roughly 10 people. The announcement came from…