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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: Square Eyes UK BNPL Market With Clearpay Integration
Square has leveraged its acquisition of fintech Clearpay by integrating the latter’s BNPL functionality in all its platforms at the same time, including in-store, online, and integration by Square’s developers and partners. Square sellers in the UK can now offer a pay-later solution that allows their customers to pay for their purchases in four interest-free instalments over six weeks. Merchants, however, get paid right away.
Alternative Investments/Digital: Invesco Launches Metaverse Fund
Invesco, the global asset management firm, is launching the Invesco Metaverse Fund, to be registered in Luxembourg, and having a size of about $ 30 million. It will invest in large, medium, and small cap companies across the Metaverse Value Chain which includes many distinct and interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds.
Artificial Intelligence: Developer AI Platform Inworld Raises $50M For AI Driven Virtual Characters
Inworld is a developer platform for creating AI-driven virtual characters for gaming, metaverse, and business applications. It was founded by conversational AI pioneers Ilya Gelfenbeyn, Michael Ermolenko, and Kylan Gibbs to enhance the social interactions in the immersive worlds of gaming, metaverses, entertainment, and brand experiences.
FinTech: Saudi-Based BNPL Firm Tamara Scores $100M Round
A report by Reuters says Tamara, a Saudi-based BNPL fintech, raised $100 million in a Series B round. Investors included Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF. “We believe the region has a different situation today than globally. The region is thriving with high oil prices,” Chief Executive Abdulmajeed Alsukhan told Reuters. “We want to make sure our customers find the right products that suit them and find amazing deals.”
Artificial Intelligence: Smart Cyber Lawnmower Is Crowdfunding
Kickstarter features a crowdfunding campaign for Lawna, a robotic lawn mower that uses visual AI to map out its virtual mowing territory, and does away with the perimeter wire. The futuristic lawn mower is every bit as smart as it looks, and is operable with a smartphone app.
Digital Assets: This Dangerous New Crypto Scam Is Called “Pig Butchering”
A new scam is making the rounds, and the criminals typically locate and home in on their victims using social media or dating portals such as Tinder and LinkedIn. After establishing contact, they develop an ongoing relationship with the victim, gradually leading to trust. This could easily be a romance-cum-investment scam unfurling over weeks, even months, a period that could be described as a grooming period.
FinTech: Indian Savings App Jar Lands $22.6M Series B At A $300M Valuation
Jar, an Indian fintech app that wants to “reintroduce this generation to the concept of piggy banks by helping them save in digital gold,” has raised $22.6 million in its Series B round, led by existing investor Tiger Global. Existing investors Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital and WEH Ventures also participated in the funding. New investors included 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures and others.
Digital Assets: Ethereum Merge Could Boost CoinBase’s Bottom Line By $80 – $100M (JPMorgan)
Coinbase (NASDAQ: COIN) is likely to benefit substantially from the Ethereum Merge, according to JPMorgan analyst Kenneth B Worthington. In a note to clients, Worthington estimated that Coinbase likely accounted for a 15% share of Ethereum assets, and that recent steps it took “to maximize the value of Eth staking for its clients” would help to bolster its own revenues.
Venture Capital/Digital: Shima Capital Launches $200M Fund For Early-Stage Blockchain Startups
The debut fund, Shima Capital Fund I , received funding from investors including Dragonfly Capital, Bill Ackman, Animoca, OKex, Mirana Ventures, Republic, and Andrew Yang, among others.
FinTech: eToro To Acquire Options Trading Platform Gatsby For $50M
Social investment network eToro has signed a definitive agreement to acquire options trading platform Gatsby for $50 million. Founded by Co-CEOs and Co-founders Jeff Myers and Ryan Belanger-Saleh in 2018, Gatsby aims for a clientele among younger US investors.
Artificial Intelligence: Virtual, AI-Powered Rapper Signs Record Deal With Capitol Records
FN Meka, a virtual rapper, much like a gaming character, has an Instagram page, millions of followers, and more than a billion views on TikTok. Meka now has the added distinction of having released a single after signing with the famous Capitol Records label.
Artificial Intelligence: AI Enables Dead UK Woman To Address Mourners At Her Own Funeral
Marina Smith MBE, a Holocaust survivor from Nottingham, England, expired in June 2022, appeared at her own funeral as a hologram, looking realistically alive. What’s more, she was even able to talk to her beloved mourners using the AI-powered ‘holographic’ video tool. (AnalyticsIndiaMag)
Alternative Investments/ESG: Vanguard Files For Global Environmental Opportunities Stock Fund
Vanguard has revealed its plans to launch the Vanguard Global Environmental Opportunities Stock Fund, to be actively managed by Ninety One, an experienced active investment manager with a proven track record in environmental, decarbonization, and global investing. Founded in 1991, Ninety One manages approximately $160 billion globally.
Alternative Investments/Fintech: BlackRock Launches Another ‘Megatrend’ ETF Focused On Disruptive Fintech
BlackRock (NYSE: BLK) announced the expansion of its Megatrends suite with the launch of the BlackRock Future Financial and Technology ETF (NYSEARCA: BPAY), an ETF that invests in companies delivering innovative and emerging technologies that are driving disruption within the financial services industry. The actively managed fund will be run by Lead Portfolio Manager Vasco Moreno of BlackRock’s Fundamental Equity (FE) franchise.
Digital Assets: Ether Options To Debut On CME September 12
Derivatives exchange CME Group (NASDAQ: CME) intends to launch options on its ether future contracts on September 12. The new option contracts are based on one ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether.
Artificial Intelligence/VC: G42, The Abu Dhabi AI Firm, Forms $10B Fund For Tech Investments In Emerging Markets
G42, the Abu Dhabi-based artificial intelligence firm, announced the launch of the $10 billion G42 Expansion Fund to invest in late-stage growth companies with disruptive technologies and strong business fundamentals. The fund is being set up in partnership with the Abu Dhabi Growth Fund, an arm of the state-owned ADQ, and will be run by a G42 subsidiary. US private equity firm Silver Lake is an investor in G42.
FinTech: Dutch Payments Giant Adyen Disappoints On Earnings
Shares of payments technology provider Adyen NV (AMS: ADYEN) plunged by over 15% to a low of 1544.20 EUR after its earnings report for the first half underwhelmed against market expectations. The company reported revenues of 609 million EUR against expectations of 615 million EUR. Net income was 9.09 EUR per share against a consensus of 9.11 EUR. Earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at 356.3 million EUR versus the FactSet consensus.
Digital Assets: Revolut Bags Crypto License In Cyprus
UK digital bank Revolut will now be able to offer additional and regulated crypto services to its 17 million customers in Europe. The bank seeks an opportunity in the potential compliance required in upcoming EU regulations, and the Cyprus hub will enable it to support digital asset innovation, offer strong customer protection, and expand its crypto business.
Venture Capital: UNDP To Launch “Timbuktoo,” A $1B Investment Initiative For African Startups
The United Nations Development Programme (UNDP) plans to bankroll $1 billion in start-up funding for African businesses over a period of ten years and will involve both public and private capital.
The UNDP Africa aims to engage a large number of private and public sector partners to establish eight Timbuktoo hubs across Africa’s leading startup ecosystems (Accra, Nairobi, Cape Town, Lagos, Dakar, Kigali, Casablanca, and Cairo, among others) and begin operations in 2023, according to a statement.
Artificial Intelligence: Atomwise To Collaborate With Sanofi On AI-Powered Drug Discovery
AI-powered drug discovery startup Atomwise has entered a strategic and exclusive research collaboration with Sanofi (NASDAQ: SNY) for computational discovery and research of up to five drug targets. AtomWise’s AtomNet platform incorporates deep learning for structure-based drug design, enabling the rapid, AI-powered search of Atomwise’s proprietary library of more than 3 trillion synthesizable compounds.
Artificial Intelligence: Shrimps On Tap From The Shrimpbox – An AI-Powered, Temperature Controlled Cargo Container
The Shrimpbox is described as an intelligent, automated shrimp farm that is disconnected from the oceans, and located close to the consumer. It enables the production of shrimp without the ill effects of traditional shrimp farming – which pollutes oceans, destroys habitats and contributes to overfishing.
Venture Capital: Property Management Platform Guesty Lands $170M Series E
Guesty, which provides management software for the short-term rental, vacation rental, and hospitality industry, has raised a $170 million Series E round led by Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. Guesty will use the funds to scale its operations, develop new technology and solutions, expand into now business verticals and for strategic acquisitions.
Alternative Investments/ESG: Morgan Stanley To Debut In ETFs With Four ESG Equity Funds
Morgan Stanley (NYSE: MS), which coined the term “exchange traded fund” in the 1990s, is making a comeback into the $6.9 trillion ETF market with four socially conscious and sustainable funds under the Calvert label that will invest in US and international stocks. Though late to the party in terms of both ETFs and ESG, Morgan Stanley will bring to bear its $1.4 trillion AUM and marketing muscle on a market that recently saw the advent of the Capital Group and Neuberger Berman.
Digital Assets: Crypto Adoption Makes Progress In Brazil – XP Inc Unveils Crypto Trading
After Nubank and Mercadolibre, XP Inc., the Brazilian brokerage with over 3.6 million customers, has launched a crypto trading platform dubbed XTAGE. Initially, trading will be offered only in bitcoin and ether. XTAGE has been integrated into XP’s trading systems and app. The platform utilized technology from Nasdaq, the US stock exchange, and crypto custody firm BitGo.