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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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Dreading the ‘R’ Word? Don’t, Says This Investment Manager
A recession is not imminent says Esty Dwek, Head of Global Market Strategy, Dynamic Solutions, Natixis Investment Managers
Here is an opinion that is a counterpoint to all the recent doom-and-gloom recession prophecies.
Small Business Debt Funding Platform Now Available on Your iPhone
Apple has approved the SMBX app, a crowdfunding debt financing platform for small business
Small businesses now have an alternative to their banks on their iPhones. SMBX, an app recently approved by Apple, has come to the rescue of small businesses that are unable to access financing from banks because of their insufficient credit history.
Goldman Sachs and Ping An lead $ 72.5 million funding round in AI firm H2O.ai
Goldman Sachs and Ping An lead $ 72.5 million funding round in AI firm H2O.ai
Wells Fargo, NVIDIA and Nexus Venture Partners also made repeat investments in the India-based artificial intelligence startup
With the latest Series D funding round, H2O.ai has raised a cumulative amount of $ 147 million. Other investors include Barclays, Capital One, New York Life, Walton River Wood, and Transamerica.
Ray Dalio: China Could “Weaponize” its US Treasury Holdings
Hedge fund titan Ray Dalio said to CNBC that China might well use its massive US Treasury holdings to gain a strategic advantage over the United States in the ongoing trade war
Will China use the nuclear option? That refers to China’s ability to dump its holdings of US Treasury bonds and thereby cause a massive rise in US interest rates that could potentially derail the US economy.
Ray Dalio: The Fed May Be Running Out of Bullets
The Fed tackled the last crisis through monetary easing. “But the power to do this is limited,” says Dalio. “Think of central banks cutting interest rates and purchasing financial assets (QE) as shooting doses of stimulants into their economies and markets.”
Accenture: Global Fintech Investments Plunge in H1 of 2019
The US-China trade war took a toll on global fintech investments, which slumped 29% in the first half of the year.
According to a report from consulting firm Accenture, fintech deals across the globe in the first half of 2019 amounted to $22 billion, sharply lower than $31.2 billion in the same period in 2018.
The number of deals was higher by 2% to 1,561 this year, however.
Mohamed El-Erian: Negative interest rates in the U.S. “will break things”
El-Erian, chief economic adviser at the financial powerhouse Allianz, warns that negative interest rates in the US would be a recipe for disaster
El-Erian has viewed with some trepidation the recent yield curve inversion that occurred in the US. With negative interest rates already entrenched in Japan and Europe, it may only be a matter of time before the US faces yields below zero.
Cerebras Systems Launches AI Chip with a Record 1.2 trillion Transistors
Cerebras Systems, the hitherto stealth mode AI start-up, has come out swinging with its Cerebras Wafer-Scale Engine (WSE), the largest chip ever built
“56x larger than any other chip, the WSE delivers more compute, more memory, and more communication bandwidth. This enables AI research at previously-impossible speeds and scale,” the company says on its website.
Canadian private lenders suffer higher delinquencies versus traditional banks
Delinquency rates on loans advanced by private lenders are many times higher than those by traditional banks.
An analysis of data from the Canada Mortgage and Housing Corporation for the third quarter of 2018 reveals that mortgage investment entities (MIEs) suffered delinquency rates of 1.93% compared to just 0.24% at traditional banks.
Softbank Will Loan $ 20 billion to Employees to Invest in Vision Two Fund
With investors not exactly lining up to park money in his second Vision Fund, Softbank head honcho Masayoshi Son plans to loan money to employees to invest in it
This is a highly unusual move by Son, aimed to garner subscription of as much as 20% of the $ 108 billion targeted raise for the second avatar of the mega-Vision Fund.
However, even in the original Vision Fund, which had a target of $ 100 billion, employees were given loans to subscribe to $ 8 billion of that amount.
EU Member States Harder on Crypto Assets
Do cryptocurrencies present a more significant risk to individual EU states than to Brussels?
It would seem so, because many European countries have implemented crypto regulations that are stricter than the EU’s Fifth Anti-Money Laundering Directive, which came into force in July 2018.
Negative Interest Rates: Danish Bank Unit Pays Interest to a Borrower
For the first time in its history, Realkredit Danmark, a lending unit of the Danske Bank Group, has had to pay out interest on a loan taken by a customer
A fallout of the negative interest phenomenon, more such events are expected where a lender pays out interest to a borrower (rather than the other way round, as in the case of positive interest rates).
Listed Lending Platform Funding Circle Hits $10 Billion in Funds Issued
Listed lending P2P platform Funding Circle, headquartered in London, has surpassed the magic figure of $10 billion in funds loaned
Launched in 2010, Funding Circle is the first P2P platform to be listed in the UK.
Bill Ackman at Pershing: He’s really pushing it
What a stark difference. The S&P500 is up 17.35% through June 30, while Bill Ackman’s Pershing Square Holdings, his publicly traded vehicle, rose 45.3%.
This, despite 2019 being the best annual start for the index since 1997.
Crescat Capital Celebrates the “Macro Trade of the Century”
This August one couldn’t have called it better: long precious metals, short yuan, and short equities
Those are the three legs of Crescat Capital’s “macro trade of the century,” and together they netted a 16% gain for the fund in the early days of August.
Crescat Capital founder Kevin Smith, therefore, has cause for celebration.
30-Year Treasury Bond Slumps Under 2% for First Time
Markets fear a global recession. The old reliable 30-year bond just hit an all-time low. The 30-year treasury bond just hit an all-time low. While the Dow slumped 800 points Wednesday, the 30-year bond dropped under 2% for the first time in history. We witnessed a drop to 1.991% during Asian trade. It’s also the…
That iconic Mustang from Bullitt may set a new muscle car record at 2020 auction
Mecum’s 2020 Kissimmee auction in January will notably feature the 1968 Ford Mustang driven by Steve McQueen in the movie Bullitt.
This would be the first time the renowned car will feature in an auction after it was miraculously found intact in Tennessee 18 months ago.
According to Dana Mecum, company president and founder, the Mustang might well pull past the previous American muscle car record of $ 3.5 million held by a 1971 Plymouth Hemi Cuda convertible. Considering the highest auction price for a Mustang so far has been $ 2.2 million for a 1967 Shelby GT500 Super Snake, that would be quite an achievement.
Bill Ackman: Berkshire Stock to “Increase Substantially”
Has Pershing Square been summoned to bail out the Oracle of Omaha? Bill Ackman said in a letter to shareholders that Berkshire Hathaway stock will bolster returns for the fund. The letter comes shortly after Ackman revealed a sizeable stake in Warren Buffett’s iconic firm. The timing of the $700 million purchase of Berkshire B…
Harry Markopolos: GE Operating $38B Accounting Scam
Markopolos working with an unnamed hedge fund that is shorting GE
Harry Markopolos is an accounting expert reputed for exposing Bernie Madoff’s Ponzi scheme.
On Thursday, Markopolos released a 170-page report that alleged various accounting irregularities at GE. The report says that many of GE’s filings with regulators could be inaccurate and fraudulent.
Cambridge Taps Tilly Franklin as New Endowment CIO
Franklin replaces Nick Cavalla, who left in 2018 for Talisman Global Asset Management. Tilly Franklin is the new CIO of the University of Cambridge’s £3.2 billion endowment fund. The role shouldn’t bring any surprises to Franklin. She has been on the school’s investment board since 2014 and is an alumna. She assumes the CIO role…
Softbank-Backed Brazilian Fintech Looks to Boost Resources and Innovation
São Paulo-based secured lending platform Creditas announced a $231 million funding round on July 10 that values the fintech at $750 million.
The funding round is led by SoftBank Group. Existing investors Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital will also participate.
M&A Deal News – August 15, 2019
A merger in media, antitrust busts, a REIT sells two hotels… and more M&A deal news M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Here’s our recap for Thursday morning. First, Summer Redstone’s entertainment…
Lapis Advisers Pressures University on Technical Default
Bethune-Cookman University, in technical default on bonds worth $17 million, is under fire from hedge fund Lapis Advisers, the largest holder of those bonds
Lapis Advisers and bond trustee U.S. Bancorp are alleged to be pressuring the college for a first mortgage on its property worth about $161 million, as part of a forbearance agreement with tenure until December.
Pershing Square Bets on Warren Buffett
Bill Ackman’s secret investment we discussed last week was just a big bet on Berkshire Hathaway Pershing Square Capital Management has made a passive investment on Warren Buffett. A new SEC filing disclosed a 3.5-million stake in Berkshire B shares during the second quarter. Reuters reports it’s a passive investment for Ackman’s firm. As of…