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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: Revolut Reaches Profitability Milestone In 2021
Revolut has reported revenues of £636.2 million ($766.9 million) in 2021, three times what it made the previous year, and swung to a net profit of £59.1 million. The main drivers of its profitability were higher subscriptions to its paid packages and growing use of its app.
Digital Assets: Tel Aviv Stock Exchange Circulates Discussion Paper To Allow Crypto Trading
The Tel Aviv Stock Exchange (TASE) has proposed regulatory amendments that would allow clients of non-banking institutions (NBMs) to trade cryptocurrencies. NBMs, which provide investment, advisory, and brokerage services, currently cannot accept direct deposits or act as custodians, but TASE intends to expand their authorized activities to include crypto trading.
Venture Capital: Bain Capital Ventures Raises $1.9B Across Two Funds
Bain Capital Ventures (BCV) has raised $1.9 billion in two oversubscribed funds, furthering its support for technology startups from seed to growth. The funds will be used to discover and grow the most innovative and promising companies within fintech, infrastructure, apps, and commerce.
Artificial Intelligence: A New AI Tool More Accurately Assesses Organs For Transplant
A team of researchers in the UK has developed a pioneering method to score potential organs for transplant using artificial intelligence (AI). The new AI tool, known as OrQA (Organ Quality Assessment), compares images of potential donor organs with tens of thousands of other organs that have been used in transplant operations.
Venture Capital: Cloud Security Startup Wiz Nabs $300M Series D Financing
Wiz, a cloud security provider, has raised $300 million in a recent funding round, led by Lightspeed Venture Partners and supported by Greenoaks Capital Partners and Index Ventures. Wiz’s latest valuation is now $10 billion, making it the largest cybersecurity unicorn globally and the fastest SaaS company to reach such a valuation.
FinTech: Italian Paytech Nexi Buys 80% Of Banco Sabadell’s Merchant Acquiring Business For €280M
Italian paytech company Nexi (BIT: NEXI) has acquired an 80% stake in the merchant acquiring business of Banco Sabadell (BME: SAB), the second-largest merchant acquirer in Spain, for €280 million. The transaction reflects an Enterprise Value of 350 €M for 100%. The business is expected to generate an EBITDA of around 30 €M based on 2023 figures, resulting in an implied EV/EBITDA 2023E of ~11.5x.
Artificial Intelligence: Robin AI Raises $10.5M For Legal Services Powered By Generative AI
Robin AI, a legal tech startup, has announced that it has secured $10.5 million in Series A funding led by Plural with participation by Episode 1 and a cohort of angel investors. Robin AI will use the funding to scale its mission of changing the way the legal industry operates by using AI and generative models with “lawyers-in-the-loop” to cut legal costs and make simple legal tasks even easier. The company offers access to legal services, including a first-in-class AI-driven contract editor, to individuals, startups, and beyond, to process legal contracts at little to no cost.
Digital Assets: Coinbase to Delist Binance-Branded BUSD Stablecoin Effective March 13
However, Coinbase assures that holders can withdraw their BUSD funds anytime. Coinbase (NASDAQ: COIN), one of the largest crypto exchanges in the world, has announced that it will suspend the trading of Binance-branded BUSD stablecoin on its platform, citing its failure to meet Coinbase’s internal listing standards. The stablecoin will be de-listed on March 13th…
Venture Capital: Skydio, Maker Of Autonomous Drones, Lands $230M Series E
Drone manufacturer Skydio has raised $230m in a Series E funding round, led by Linse Capital, which values the company at $2.2 billion, more than double its valuation two years ago. Andreessen Horowitz, Next47, IVP, DoCoMo, Nvidia, the Walton Family Foundation, UP Partners, Hercules Capital, and Axon also participated in the round.
Artificial Intelligence: Snapchat+ Now Features An AI Chatbot
My AI, an OpenAI-powered chatbot, makes its appearance on Snap and is accessible to Snapchat+ subscribers. In a statement, Snap (NYSE: SNAP) said “My AI can recommend birthday gift ideas for your BFF, plan a hiking trip for a long weekend, suggest a recipe for dinner, or even write a haiku about cheese for your cheddar-obsessed pal.”
Digital Assets: G20 Asks The IMF And FSB To Prepare Technical Paper On Global Crypto Regulation
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) are working together to develop a technical paper that proposes a coordinated global approach for regulating crypto assets. The paper will be presented at the next meeting of G20 Finance Ministers and Central Bank Governors in October.
Venture Capital: Dutch AI Agtech Source.ag Raises $23M Series A
Dutch company Source.ag has raised $23 million in a Series A funding round led by Astanor Ventures, with further investment from Acre Ventures Partners and several of the Netherlands’ leading greenhouse operators. Source.ag develops artificial intelligence (AI) tools to provide growers with guidance on optimal crop cultivation techniques.
FinTech: Hong Kong-Based FundPark Provides Collateral-Free Loans To SMEs
Hong Kong-based start-up FundPark is seeking a new round of fundraising to help small and medium enterprises (SMEs) access trade finance. Unlike banks, FundPark provides SMEs with a range of financing options for working capital without collateral requirements.
Artificial Intelligence: Raphael Painted A Mystery Painting, According To AI
New facial recognition technology has been used to examine a painting known as the de Brécy Tondo, leading researchers to conclude that it is highly likely to be a masterpiece by Raphael. The technology was developed by Professor Hassan Ugail, of the University of Bradford, and uses a deep neural network to identify patterns in images with greater accuracy than the human eye.
Digital Assets: Russian Perpetrators Of Ponzi Forsage DeFi Platform Indicted
Four individuals from Russia, Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov, have been indicted in the US for allegedly running a global Ponzi scheme through their decentralized finance (defi) crypto platform, Forsage. The US Justice Department announced that the platform had defrauded investors of around $340 million. The accused are each charged with conspiracy to commit wire fraud and could face a maximum of 20 years in prison if found guilty.
Venture Capital: Senior-, And Value-Based Care Focused Vytalize Health Raises $100M Series C
Vytalize Health, a provider enablement platform, has secured $100 million in funding led by Enhanced Healthcare Partners and Monroe Capital, with North Coast Ventures also participating. The investment will enable Vytalize Health to strengthen primary care practices and accelerate responsible value-based care for seniors.
FinTech: FinTech Powers LatAm E-commerce Giant MercadoLibre Inc To Quarterly Profit
Mercadolibre (NASDAQ: MELI), a leading e-commerce company in Latin America, reported better-than-expected profits in Q4, leading to a surge in its stock price by over 6% during Thursday’s extended session. The company’s earnings per share for the quarter were $3.25, exceeding consensus estimates by $0.93. The 40.8% increase in revenue from the previous year was also slightly higher than analysts’ expectations.
Alternative Investments/ESG: The Energy And Remediation ETF From Horizon Kinetics Rides Two Boats
Horizon Kinetics has unveiled the Horizon Kinetics Energy and Remediation ETF (NYSEARCA: NVIR), a fund listed on the New York Stock Exchange that aims to strike a balance between meeting global energy needs and investing in existing remediation technology. The actively managed fund will hold both attractive, carbon-based energy companies and remediation companies that use existing technology to generate carbon-based energy in a more environmentally sensitive manner.
Artificial Intelligence: NVIDIA’s Blockbuster A100 Chip Is The Preferred Workhorse For AI Such As ChatGPT
Despite a 21% decline in overall sales, Nvidia’s (NASDAQ: NVDA) AI chip business, reported as data centers, rose by 11% and generated sales of over $3.6 billion in the fiscal fourth quarter. This growth in the company’s AI chip business contributed to the company’s shares rising 14% on Thursday, outperforming the S&P 500 and other semiconductor stocks with a 65% increase so far in 2023.
Digital Assets: Binance And Ingenico Tie Up For In-Store Crypto Payments In France
Ingenico, the world leader in payment acceptance solutions, has partnered with Binance, the world’s largest blockchain ecosystem and digital asset exchange, to offer an in-store cryptocurrency payment acceptance solution in France.
Artificial Intelligence: Consulting Firm Bain Announces Global Services Alliance With OpenAI
Bain & Company, a top-level management consulting firm, has announced a global services alliance with OpenAI, the parent company of ChatGPT. Bain will be integrating AI into its client operations and various other tasks. The company aims to use AI to support the necessary changes to improve technology, processes, operating models, and data assets.
FinTech: Mission Lane Customers To Get Access To Plaid Apps In Expanded Tie-Up
Mission Lane strives to extend financial inclusion to credit excluded people. Fintech company Mission Lane has announced an expansion of its partnership with data network Plaid to provide the latter’s secure open finance solutions to its over two million customers. The partnership will leverage Plaid’s open finance API data connectivity solution to enable customers to…
Venture Capital: South African, Cars-On-Subscription Startup Planet42 Raises $100M
Planet42, a South African startup that offers car subscriptions to those who cannot access traditional bank credit, has raised US$100 million in combined equity and debt funding to support its expansion.
Alternative Investments/ESG: Global X Debuts ESG-Focused, Options-Based ETFs
Global X ETFs, a company based in New York that offers exchange-traded funds (ETFs), has revealed the introduction of two new funds. These funds, the Global X S&P 500 ESG Covered Call ETF (XYLE) and the Global X Nasdaq 100 ESG Covered Call ETF (QYLE), add to the company’s range of options-based funds.