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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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FinTech: Coastal Property Insurer SageSure Nabs $250M Equity Funding
SageSure, a general underwriter specializing in catastrophe-exposed property insurance, has secured $250 million in equity financing from Amwins and Flexpoint Ford. The funding will support SageSure’s capital-efficient growth strategy. The investment round, which also involved Ares Management Corporation, brings in experienced strategic and financial investors while partially recapitalizing the company’s stakeholders.
Artificial Intelligence: What Sam Altman Said To The Senate Panel
OpenAI CEO Sam Altman addressed US lawmakers in a Senate panel hearing, discussing various aspects of artificial intelligence (AI) and its impact on society and democracy. Altman emphasized the need for AI regulation, despite political divisions, and outlined five key points during the hearing.
FinTech: BNPL Player Sezzle Is In The Black For The Third Quarter In A Row
BNPL fintech Sezzle (ASX: SZL) experienced a rise in its business volumes during its most recent quarterly financial period, along with sustained profitability. The company, which specializes in the buy now, pay later (BNPL) model, reported its earnings on Monday (May 15), revealing a 25% year-over-year increase in quarterly revenue.
Venture Capital: Industrial Robots Startup ANYbotics Lands $50M Funding
Swiss startup ANYbotics, a spinout from ETH Zurich, has raised $50 million in a Series B funding round led by Walden Catalyst and NGP Capital. ANYbotics develops four-legged autonomous robots for industrial use, specifically for inspection purposes in sectors such as oil and gas, mining, and chemicals.
Digital Assets: Valkyrie Files For Leveraged Bitcoin Futures ETF With BTFD Ticker
Valkyrie, an investment firm, has filed a new application for a Bitcoin futures-based exchange-traded fund (ETF) called BTFD. The firm aims to list the ETF on NASDAQ. Unlike their existing BTF fund, this new fund will be leveraged, allowing speculators to increase their exposure to Bitcoin. The ticker symbol “BTFD” is a reference to a popular meme in the finance Twitter community. The initial plan was to use this ticker for the first fund, but it was later changed in October 2021. Valkyrie has not yet commented on the matter.
Artificial Intelligence: AI Deployed To Carry Out Sound Surveys Of The Ocean
A decade-long, US$50 million project had scientists collaborating across numerous international organizations, universities, and even military entities to collect nearly 4,000 recordings across the globe.
Scientists have made a major breakthrough in using algorithms to identify marine life sounds in the ocean. Instead of relying on human interpretation, researchers recorded underwater sounds and used an algorithm to quickly identify species in a matter of minutes.
Fintech: MPOWER Financing Wraps US$150M Funding From Goldman Sachs For Loans To International Students.
MPOWER Financing, a mission-driven fintech firm, has closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs (NYSE: GS). The funding will be used to expand their portfolio of student loans for international and DACA students studying in the U.S. and Canada.
Venture Capital: Kenyan Fintech M-Kopa Nabs over $250M In Debt And Equity Funding
Kenyan fintech company M-Kopa has raised over $250 million in debt and equity to support its expansion plans in sub-Saharan Africa. Standard Bank Group, the largest lender in Africa, led the debt-funding round, with participation from other investors such as the International Finance Corp., British International Investment, Mirova SunFunder, and Nithio. Additionally, $55 million was raised through equity investments from Summit Corp., Blue Haven Initiative, Lightrock, Broadscale Group, and others.
Digital Assets: Sam Altman Said To Be Homing In On $100M Raise For Worldcoin Cryptocurrency
OpenAI CEO Sam Altman is on the verge of securing approximately $100 million in funding for his project, Worldcoin, which aims to create a secure global cryptocurrency using iris-scanning technology. This development comes as a welcome positive turn for the cryptocurrency sector, which has experienced a challenging year.
Artificial Intelligence: Amazon Will Pair AI With Regionalization To Speed Deliveries
Amazon is leveraging artificial intelligence (AI) to accelerate its delivery operations, according to a senior executive interviewed by CNBC. The company is focusing on using AI to minimize the distance between its products and customers to offer quicker shipping.
Digital Assets: Marathon Digital Holdings And Zero Two To Build Large-Scale Immersion Bitcoin Mining Operations In Abu Dhabi
The Marathon and Zero Two venture would be the first such operation in the Middle East. Marathon Digital Holdings (NASDAQ: MARA) and Zero Two have formed a joint venture to establish the first large-scale immersion bitcoin mining operations in the Middle East. The new entity, Abu Dhabi Global Markets JV, will initially build two digital…
FinTech: Paysend Business Makes Its Debut In The US
Paysend Business, an international payments platform for small and medium-sized enterprises (SMEs), has launched in the United States, following a successful UK implementation in 2022.
Venture Capital: AMP Robotics Raises Series C Funding From Microsoft’s Climate Innovation Fund
Microsoft’s (NASDAQ: MSFT) Climate Innovation Fund has invested in AMP Robotics Corp. (AMP), a company that applies AI, robotics, and infrastructure to the waste and recycling industry. The latest investment is part of AMP’s Series C round and brings the total funding to over $99 million.
Artificial Intelligence: Meet CarynAI, The First Influencer Transformed Into AI
The AI-powered digital replica already has 1,000 digital boyfriends who pay $1 per minute. A 23-year-old influencer named Caryn Marjorie created an AI-powered chatbot called CarynAI that mimics her voice, personality and mannerisms, with the intention of offering a “flirty and fun” experience for users. However, following its launch, the chatbot started providing sexually explicit…
FinTech: Rapid Finance Ties With Mambu To Offer Lending-as-a-Service (LaaS) To Lenders Across The United States
Rapid Finance and Mambu have partnered to offer a comprehensive Lending-as-a-Service (LaaS) solution for lenders. The integration of Mambu’s loan management system (LMS) with Rapid Finance’s Decisioneer loan origination system (LOS) provides a streamlined, digital experience for end-to-end lending, from loan origination to servicing.
Digital Assets: Grayscale Files For New ETFs Even As Its Application For Spot Bitcoin Hangs Fire
Grayscale Investments is forming a new trust called Grayscale Funds Trust to manage its products as it expands its ETF business. Grayscale has filed a new registration statement with the SEC for a new Ethereum Futures ETF, a new Grayscale Global Bitcoin Composite ETF, and a Grayscale Privacy ETF.
Artificial Intelligence: Google Tries To Close The Gap With Microsoft On AI
Google is introducing generative artificial intelligence (AI) to its core search engine in a move to compete with Microsoft’s GPT-4 on Bing. The new feature, called Search Generative Experience, will craft responses to open-ended queries but is still in the experimental phase and only available to a limited number of users. It was announced at the search giant’s annual developer conference.
Alternative Investments/Real Estate: Index IQ Launches Real Estate ETF In Collaboration With CBRE
IndexIQ has launched its latest ETF, the actively managed IQ CBRE Real Assets ETF (IQRA) sub-advised by CBRE Investment Management Listed Real Assets LLC. The ETF aims to provide total returns through a diversified portfolio of core real assets securities that seek to generate capital growth and current income.
Venture Capital: 8fig, A Finance Provider To E-Commerce Sites, Lands $140M Series B
8fig, a company that offers growth and funding solutions to small to medium-sized eCommerce businesses, has secured $140 million in a Series B funding round. The funding was led by Koch Disruptive Technologies, with participation from existing investors Battery Ventures, Localglobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank.
Digital Assets: The Canton Network, A Blockchain For Financial Markets, Launched May 9
Digital Asset, in collaboration with major financial market participants and industry partners, has announced the launch of the Canton Network, a privacy-enabled interoperable blockchain network for institutional assets. The Canton Network creates a “network of networks” that enables previously siloed systems in finance to interoperate, leading to new efficiencies and innovation in the industry.
FinTech: Singapore Businesses Can Now Pay From Within WhatsApp Courtesy Of A Tie-Up Between Meta And Stripe
Stripe has partnered with Meta-owned (NASDAQ: META) WhatsApp to allow businesses in Singapore to receive payments directly in WhatsApp chats using the integrated Stripe Connect API and Stripe Checkout payment page. The new feature allows customers and businesses in Singapore to make purchases and sales directly on WhatsApp without requiring them to visit a website, use a different application, or pay cash physically.
Artificial Intelligence: An AI Algorithm Predicts Risk Of Pancreatic Cancer Occurring In 36 Months (Study)
A recent study suggests that an AI tool can predict the risk of pancreatic cancer up to three years in advance by analyzing patients’ medical records. The study used an AI-based population screening method that helps identify a specific biomarker of certain diseases, which can be difficult to catch in the early stages.
Digital Assets: Crypto Exchange Bittrex Files For Bankruptcy
Bittrex, a Seattle-based cryptocurrency exchange accused by the SEC of operating an unregistered securities exchange, has filed for bankruptcy protection in Delaware court. Though Bittrex closed down operations in the US on April 30, its non-US operations in Liechtenstein will not be affected.
FinTech: Boss And Founder Nik Storonsky Criticizes Delay In Decision On Revolut’s Banking Application
The decision on whether to grant a banking license to Revolut, a British financial technology company valued at £14 billion and one of the UK’s most valuable start-ups, is still hanging fire but is expected to be made in the coming weeks by regulators. However, Nik Storonsky, founder and CEO, gave vent to his frustrations last week in an outburst that severely criticized the delay considering the application has been pending for over two years.