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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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Artificial Intelligence: Italy Blocks ChatGPT On Data Privacy Concerns
Italy has temporarily blocked ChatGPT, a popular artificial intelligence chatbot developed by US firm OpenAI, over concerns of data privacy. OpenAI has been accused by the Data Protection Authority of the country of collecting and storing personal data on a large scale for training the algorithms of their platform without any legal justification.
FinTech: In Tech Overhaul, Liberty Bank Picks Alkami’s Digital Banking Platform
Connecticut-based Liberty Bank has adopted Alkami’s digital banking platform for its business, retail, and mobile banking. Liberty Bank aims to provide an innovative user experience to its customers and position itself for future growth.
Venture Capital: Accel-KKR Wraps Up $5.3B For Two New Funds
Accel-KKR, a technology-focused private equity firm, has raised $5.3 billion in new capital commitments for two funds: Accel-KKR Capital Partners VII LP and Accel-KKR Emerging Buyout Partners II LP. Accel-KKR invests in technology companies through various funds and strategies, including Buyout, Emerging Buyout, Growth Capital, and Credit, and has $19 billion in cumulative capital commitments.
Alternative Investments/ESG: MKS PAMP Launches ETF Backed By Carbon-Neutral Gold Bars
Swiss gold trading house MKS PAMP has partnered with UBS to launch the world’s first carbon-neutral gold ETF, which is backed by carbon-neutral gold bars sourced from MKS PAMP and certified by the Carbon Trust. The initiative will allow climate risk-oriented clients to invest in certified gold that meets strict environmental criteria and reduce the carbon footprint of their portfolios.
Artificial Intelligence: Now, An AI Mattress Designed For “Sleep Tourism”
Hotels are incorporating mattresses with artificial intelligence (AI) to enhance the sleep experience for their guests. These mattresses, like the one developed by Bryte, have 90 cushions that adapt to individual needs, detect discomfort and adjust firmness and position accordingly. They also detect heart rate and respiratory movements to track sleep cycles and adjust texture and temperature.
Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance Group, True Global Ventures and Cité Gestion SPV.
FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in making sense of energy data. The partnership aims to provide information and support for banking customers as they deal with the challenges posed by climate change and energy crises.
Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life Sciences, aims to invest in companies that are developing breakthrough drug therapies and medical technologies for neurodegenerative diseases. These diseases are some of the biggest healthcare challenges in the world, with 54 million patients affected globally.
Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning. The model, called DAGGER (Deep Learning Geomagnetic Perturbation), analyses spacecraft measurements of the solar wind, a stream of material from the Sun, and forecasts geomagnetic disturbances worldwide.
FinTech: Revolut’s Response To Audit Report Irks Both Its Board And Accounting Fraternity
Revolut, a UK-based fintech company, has been criticized by its own board for portraying a critical audit report as a clean bill of health. The company issued a public statement insisting that the audit by BDO confirmed that the financial statements gave a true and fair view of the company’s affairs.
Digital Assets: Hong Kong’s Crypto Renaissance Spurs The $100M ProDigital Fund
A new fund in Hong Kong plans to raise $100 million this year to invest in digital asset startups, with the aim of boosting the city’s position as a fintech hub. The ProDigital Future Fund, led by Ben Ng and Curt Shi, has already secured at least $30 million in funding commitments from investors, including Sunwah Kingsway Capital Holdings and Golin International Group.
Artificial Intelligence: America’s Pacific Northwest National Laboratory (PNNL) Uses AI To Detect Illegal Nuclear Weapons
Researchers at Pacific Northwest National Laboratory (PNNL) in the United States are using machine learning techniques to identify rogue nuclear weapons. The analysis of the chemicals and infrastructure required to produce these weapons is key to detecting undesirable nuclear activity.
Venture Capital: Farmers’ Fintech Agreena Raises €46M For Its Soil Carbon Platform
Climate and fintech company Agreena has raised €46 million in its Series B round of funding. Led by Germany’s HV Capital, the round also included new investors such as AENU and Anthemis, as well as existing shareholders such as Gullspång Re:food, Kinnevik, and Denmark’s Export and Investment fund.
Digital Assets: Troubles Mount At Crypto Giant Binance
Binance, the world’s largest cryptocurrency exchange, is facing mounting problems as traders pull billions of dollars from the platform. The Commodity Futures Trading Commission (CFTC) recently sued Binance, alleging that it operated illegally in the US and violated rules designed to prevent illegal financial transactions.
Venture Capital: Fusion Energy Startup Type One Energy Nabs $29M
Type One Energy has successfully closed an over-subscribed $29 million funding round to commercialize its stellarator fusion technology through the FusionDirect program. The program aims to develop practical fusion power plants using stellarators, which are more stable and require less electric current to create magnetic fields compared to tokamaks.
Artificial Intelligence: AI Could Disrupt 300M Jobs (Goldman Sachs); More Than 1,000 Sign Letter From Future Of Life Institute To Pause AI Research
A group of AI experts and researchers have written an open letter calling for a pause on the development of AI systems more powerful than GPT-4 for at least six months. Extensive research and top AI labs acknowledge that such systems could greatly risk society and humanity, according to the authors. The letter, which was issued by the non-profit Future of Life Institute (FLI) was signed by over 1,000 individuals.
FinTech: Apple Launches Apple Pay Later, Its Own BNPL Product
Apple (NASDAQ: AAPL) has introduced a new feature called Apple Pay Later in the US, allowing users to split their purchases into four payments without any interest or fees. Users can apply for loans ranging from $50 to $1,000 for online and in-app purchases made on iPhones and iPads with merchants that accept Apple Pay.
Venture Capital: Europe’s Isar Aerospace Lands $165M Series C Round
German satellite launch service provider Isar Aerospace has raised $165m in a series C funding round. The round is the largest financing round in the SpaceTech sector so far this year and is backed by investors including Bayern Kapital, Earlybird Venture Capital, HV Capital, Lakestar, Porsche SE, UVC Partners and Vsquared Ventures. According to the company’s CFO, the round was concluded “at an increased valuation compared to our Series B in July 2021.”
FinTech: Brazilian Fintech Pismo In Play, Mastercard, Visa Likely Suitors
Mastercard (NYSE: MA) and Visa (NYSE: V), two of the largest payment processing companies in the world, are reportedly in negotiations to purchase Brazilian fintech firm Pismo. The company provides cloud-based payment and banking platforms and is currently valued at around $1 billion. According to sources familiar with the matter, Pismo is working with Goldman Sachs (NYSE: GS) on a sale, and the interested parties include a bank and private equity funds.
Artificial Intelligence: Levi Strauss Ties With Lalaland.ai For AI-Generated Fashion Models
Levi Strauss & Co. (NYSE: LEVI) has announced a partnership with Lalaland.ai, a digital fashion studio that creates AI-generated models. The Amsterdam-based company uses advanced AI technology to create hyper-realistic models of different body types, ages, sizes, and skin tones to provide a more inclusive, personal, and sustainable shopping experience for fashion brands, retailers, and customers.
Alternative Investments/ESG: Healthcare Of Ontario Pension Plan (HOOPP) Unveils Climate Plan For Achieving Net Zero In Its Portfolio By 2050
The Healthcare of Ontario Pension Plan (HOOPP) plans to invest nearly US$17 billion in green investments by 2030 to reduce the carbon footprint of its portfolio, as part of its strategy to achieve net-zero greenhouse gas emissions by 2050.
Digital Assets: Bitcoin Down After The CFTC’s Legal Salvo Against Binance
On Monday, cryptocurrencies fell after the Commodity Futures and Trading Commission (CFTC) sued Binance, the world’s largest crypto exchange, for allegedly violating trading rules. Bitcoin’s price slid over 3% to $27,112.71, while Ether fell 3% to $1,714.68.
FinTech: Mambu And Purpl Unveil Digital Wallets For Lebanese Citizens
Purpl, a remittance and cash out aggregator, has announced its successful launch on Mambu’s cloud-native banking platform. This new offering provides Lebanese citizens, both domestically and abroad, with seamless ways of transacting.
Venture Capital: OpenView Lands $570M For Its VIIth Fund
OpenView has closed its seventh fund, totaling $570 million, a 25% increase over the firm’s sixth fund and its largest to date. The venture capital firm will continue to invest in high-growth software startups, globally across all business software categories, with a focus on expansion stage companies.