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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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Venture Capital: Farmland CO2 Remover Andes Lands $30M
Andes, a climate tech startup, has completed a $30 million Series A funding round, bringing its total funding to $38 million. The company uses beneficial microorganisms to remove greenhouse gases from the atmosphere and convert them into minerals in the ground.
Digital Assets: Cathie Wood’s Ark Investment Raises $16.3M For Two Private Crypto Funds
Cathie Wood’s Ark Investment has launched two new private crypto funds, raising over $16 million from investors. The funds, split between a domestic and a Cayman Islands-based version, are open-ended and available only to a small number of investors.
Artificial Intelligence: Adept AI Raises $350M For AI That Does Your Bidding
Adept, a one-year-old startup founded by three AI experts, has raised $350 million as part of its Series B to develop an AI assistant that can turn text commands into sets of actions. This would hopefully enable a future where an engineer can ask an AI assistant draw up the construction plan of a house and stand by as it executes on the command.
Venture Capital: Indian Eyewear Startup Lenskart Lands $500M Funding From The Abu Dhabi Investment Authority
Indian eyewear retailer, Lenskart, has secured a $500 million investment from the Abu Dhabi Investment Authority (ADIA) to help scale its offerings and expand to international markets. This investment extends last year’s round and includes some secondary share purchases from early backers of Lenskart, which brings its total amount raised to $1.5 billion.
FinTech: Stripe Raises $6.5B At A Heavily Truncated Valuation Of $50B
Payment processor Stripe raised $6.5 billion in a non-dilutive Series I financing round, valuing the company at $50 billion, down almost 50% from the record valuation of $95 billion in garnered in a 2021 funding.
Alternative Investments/ESG: Amundi Rolls Out Climate-Change Focused ETFs In Europe
Amundi has introduced two new funds to its lineup of ETFs designed to combat climate change. These funds are focused on small-cap equity markets in Europe and the developed Pacific region. The Amundi MSCI Pacific ESG Climate Net Zero Ambition CTB UCITS ETF and Amundi MSCI Europe Small Cap ESG Climate Net Zero Ambition CTB UCITS ETF have been added to the Deutsche Börse Xetra in euros.
Venture Capital: Square And Social Change Fund United Launch Accelerator For Black and Latino Entrepreneurs
On March 14, Square (NYSE: SQ) and the Social Change Fund United jointly announced the launch of an accelerator program aimed at supporting Black and Latino entrepreneurs. The program, called “Forward,” offers mentorship, coaching, and funding to early-stage businesses.
FinTech: Lenovo and Tabit Tie-Up To Offer BNPL To Small Businesses In Canada
Lenovo (HKG: 0992) has partnered with Tabit, Canada’s first B2B Buy-Now-Pay-Later (BNPL) solution available at Point-of-Sale, to offer their business customers financing options of up to 12 months, including a 30-day interest-free option. This partnership will help small businesses access immediate and fully automated financing at the point of sale, relieving cash flow pressure while benefiting from attractive payment terms and a seamless customer experience.
Artificial Intelligence: OpenAI Announces GPT-4
OpenAI, backed by Microsoft (NASDAQ: MSFT), has announced the release of its latest AI model, GPT-4, which is capable of generating content in response to both text and image prompts, a capability described as “multimodal.”
Alternative Investments/ESG: BNP Paribas Debuts Two New ESG-Focused Fixed Income ETFs
BNP Paribas Asset Management has launched two new ESG-oriented fixed income ETFs, each with an expense ratio of 0.15%. The BNP Paribas Easy JPM ESG EMU Government Bond IG 1-3Y ETF tracks the JP Morgan ESG EMU Government Bond IG 1-3 Year Index, while the BNP Paribas Easy Euro Aggregate Bond SRI Fossil Free ETF is linked to the Bloomberg MSCI Euro Aggregate ex Fossil Fuel SRI Select Index.
Artificial Intelligence: Microsoft Reportedly Lays Off Its AI Ethics Team
Microsoft (NASDAQ: MSFT) has reportedly laid off its entire ethics and society team that was tasked for the ethical and responsible development of its artificial intelligence (AI) technology. The layoffs are part of a recent restructuring that affected almost 10,000 employees, and come as the company makes a determined effort to successfully integrate AI into its market-laggard Bing search engine, according to a report attributed to Platformer.
FinTech: Indonesian Fintech Broom, Which Finances Auto Dealers, Nabs US$10M
Indonesian automotive SME solutions startup Broom has secured $10m in a pre-Series A funding round led by Openspace Ventures, with participation from MUFG Innovation Partners, BRI Ventures and existing investors AC Ventures and Quona Capital.
Venture Capital: Y Combinator Warns Of Catastrophic Implications From SVB Collapse, Itself Lays Off 20% Of Staff
Y Combinator, the storied startup accelerator, has petitioned the US government to intervene on behalf of 10,000 small businesses and startups with accounts at Silicon Valley Bank (SVB) who may be unable to pay employees in the next 30 days due to the bank’s insolvency.
Digital Assets: Federal Support Action For Resolving SVB And Signature Bank Crises
The US Government has taken swift action to stem the economic backlash from the failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank. While Silvergate and Signature were both crypto-focused banks, Silicon Valley was the go-to bank for the venture capital industry. Silvergate, however, voluntarily chose to down shutters. A statement from the Department of Treasury detailed a concerted strategy to protect depositors at SVB and Signature.
Alternative Investments/ESG: A New Franklin Templeton ETF Targets Stocks In Decarbonizing EM Countries
Franklin Templeton has launched the Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF, which will track the MSCI Emerging Markets Climate Paris Aligned Index. This index spans large- and mid-cap stocks in 24 emerging regions that are taking active steps to decarbonize their economies.
FinTech: Depositors Relieved After HSBC Acquires SVB UK For £1
HSBC has acquired Silicon Valley Bank UK for £1 in a rescue deal that was confirmed by the UK Treasury. HSBC will take on the accounts of SVB UK’s 3,500 customers with deposits worth more than £6.7bn, and the customers will be able to access their deposits and banking services as normal.
Artificial Intelligence: Drone-Mounted, Standard RGB Cameras And AI Enable Precision Agriculture
A recent study from the University of Illinois and Mississippi State University (MSU) suggests that artificial intelligence (AI) combined with standard red-green-blue, or RGB cameras can provide the equivalent crop prediction tools as expensive multispectral cameras. This procedure can dramatically reduce costs of crop surveillance.
FinTech: Worldline Launches White-Label Shopping Mall In The Metaverse
Global payment services provider, Worldline, has launched a shopping mall in Decentraland to help companies across all industries get an easy entry into the Web 3.0 world, and create an initial presence in the Metaverse. The white-label solution provides retailers, service providers, and banks with an opportunity to prepare for the Metaverse now and gain initial experience ahead of the estimated global market volume of Metaverse commerce of between $2 and $2.6tn by 2030.
Venture Capital: Troubles At Silicon Valley Bank Trigger Warnings From Top Drawer VC Firms
Silicon Valley Bank (NASDAQ: SIVB), a major lender to start-ups, has faced a crisis after announcing a $2.25bn share sale following a significant loss on its portfolio. The company’s shares fell by 60% and its bonds posted record declines. The shock development sent tremors through the venture capital world, with many top VC firms advising their portfolio startups to bail out from Silicon Valley Bank (SVB).
Alternative Investments/ESG: Goldman Sachs Launches Muni Bonds ETF With ESG Focus
Goldman Sachs Asset Management has launched the Goldman Sachs Community Municipal Bond ETF, which aims to maximize tax efficiency by providing exposure to investment-grade, tax-exempt municipal securities.
Artificial Intelligence: ChatGPT, OpenAI’s World-Beating AI Chatbot, Now Available On The Apple Watch
Apple Watch users can now access ChatGPT, the AI-powered chatbot that became a runaway hit since its launch in November, through a dedicated app named watchGPT. The app is available on the App Store for $3.99.
FinTech: Uber May Hive Off Uber Freight, Its Truck Broking Business
Uber (NYSE: UBER) is considering spinning off its Uber Freight logistics unit in a sale or as a separate publicly traded company in order to focus on its core ride-hailing and food delivery businesses. The company is discussing options with advisers, but no decision has been taken and plans could change, according to a Bloomberg report, which cited confidential sources.
Venture Capital: Humane, Founded by An Ex-Apple Husband-Wife Duo, Raises $100M For AI-Centric Consumer Device
Humane, a software platform and consumer device builder focused on artificial intelligence (AI), has raised $100m in a Series C funding round. The round was led by Kindred Ventures and featured participation from Microsoft, SK Networks, LG Technology Ventures, Volvo Cars Tech Fund, Top Tier Capital, Hudson Bay Capital, and Socium Ventures, as well as existing investors Tiger Global, Qualcomm Ventures, Valia Ventures, Forerunner Ventures, Lachy Groom, and Sam Altman, founder of OpenAI.
Digital Assets: Silvergate Announces Voluntary Liquidation
Silvergate Capital Corporation (NYSE: SI) has announced its intention to wind down operations and voluntarily liquidate Silvergate Bank due to recent industry and regulatory developments. The bank’s wind down and liquidation plan includes repaying all deposits.