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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/ESG: Sustainable Lithium Extraction Startup EnergyX Lands IPO-Linked Funding Commitment Of $450M
Global Emerging Markets (GEM) has committed an investment of $450 million in lithium and battery technology startup Energy Exploration Technologies (EnergyX). The funds will be used to commercialize the latter’s direct lithium extraction and refining technologies. EnergyX’s LiTAS technology has been tested in the Lithium Triangle in South America and increases lithium production from 30% to 94% of what is normally recovered.
FinTech: With New BNPL Options, Dentistry Bills Become Painless
A third of U.S. consumers have gone without medical care, citing affordability as the main cause of the neglect. This is particularly acute in the case of dentistry, which can lead to sizable bills. New BNPL options are healthier for patients’ teeth, and dental practices.
Artificial Intelligence: Suspended Engineer, Of “Sentient AI” Fame, Is Fired By Google
A Google engineer put on paid leave last month after claiming that a company AI chatbot had developed consciousness and human reasoning, was finally fired on Friday. Blake Lemoine, the engineer, said he was dismissed in an interview on the Big Technology Podcast. He had been suspended on June 6 for talking to the media about Google’s (NAASDAQ: GOOGL) LaMDA, or Language Model for Dialog Applications, an AI chatbot that can simulate human speech.
Alternative Investments/ESG: State Street Launches Paris-Aligned Emerging Markets Stock ETF
State Street Global Advisors (SSGA) has launched a climate-friendly emerging market ETF. The SPDR MSCI Emerging Markets Climate Paris Aligned UCITS ETF (SPF7) is listed on Deutsche Boerse, Borsa Italiana, the London Stock Exchange, and Euronext Amsterdam.
FinTech: Australian Neo Bank Volt Returns Deposits, To Hand Back Banking License
The Australian Prudential Regulation Authority (APRA) notes that Australian digital bank Volt Bank (Volt) has refunded its customers’ deposits. The process began on June 29 when Volt declared it would no longer be a bank and that it would return its ADI licence to APRA.
Venture Capital: IQM, European Maker Of Quantum Computers, Lands €128 million ($128m) In Series A2 Funding
IQM Quantum Computers, which is based in Espoo, Finland, and makes world-beating quantum computers for the benefit of mankind, announced its €128 million Series A2 funding round led by World Fund with the participation of Bayern Kapital, EIC Fund, OurCrowd, QCI SPV, Tofino and Varma along with its existing investors Maki.vc, Matadero QED, MIG Fonds, OpenOcean, Salvia GmbH, Santo Venture Capital GmbH, Tencent, Tesi, and Vsquared. Quantum computing is expected to improve drug discovery, transform encryption and data protection, and predict financial systems. For example, a problem that could take a supercomputer 10,000 years to solve would take a quantum computer only four minutes.
Venture Capital: Thai Bank To Invest Up To $100M In Tech-Focused VC Arm
According to Thanapong Na Ranong, Managing Director of Thailand’s Kasikornbank, the company’s corporate venture capital arm, Beacon VC, is planning to raise $50 million to $100 million from its parent for tech investments this year.
Digital Assets: Sam Bankman-Fried Throws Bankrupt Voyager Digital’s Customers A Lifeline
Crypto exchange FTX has thrown bankrupt crypto broker Voyager Digital (TSE: VOYG) a lifeline. Voyager halted user transactions on July 1, and entered bankruptcy proceedings soon after. FTX CEO Sam Bankman-Fried is offering Voyager a plan that could help save a sinking ship – customers may be able to withdraw their tokens and get a refund if they have funds remaining in their wallets.
Artificial Intelligence: Robot Playing Chess In A Russian Tournament Fractures Child’s Finger
A chess-playing robot fractured a 9-year-old boy’s finger during a tournament in Moscow last week, when the kid attempted a quick move without giving the machine enough time to finish its work during the tournament. The incident occurred on July 19th.
Venture Capital/ESG: Meati, Which Makes Alt Meats From Mushroom Roots, Raises $150M
Meati Foods, which makes plant-based meats using mushroom roots as a major ingredient, announced its successful closing of a $150 million Series C round led by Revolution Growth, with participation from existing and new investors, including Grosvenor Food & AgTech, Canada Pension Plan Investment Board (CPP Investments), Wellington Management, and Cultivate Next, Chipotle Mexican Grill’s new venture fund which includes Meati Foods in its first cohort of investments.
Digital Assets: Bankman-Fried Founded FTX, The Crypto White Knight, May Raise Funds At $32B Valuation
Bloomberg said Sam Bankman-Fried, the CEO of crypto exchange FTX is in the market for raising fresh capital at a valuation of $32 billion, the same as it was in January. The entities conducting the raise are both FTX, and FTX.US, the American arm of the crypto exchange.
FinTech: “No Credit History Required” Card Offerer Tomocredit Lands $122M
Tomocredit, a credit card provider that does not insist on a FICO score from borrowers such as credit-invisible immigrants and international students with no credit history in the U.S, announced its raise of $122 million in equity and debt. The oversubscribed round met with participation by Morgan Stanley’s Next Level Fund, MasterCard, and debt from Silicon Valley Bank. Major fintech investors and culture funds including GoldHouse, Asian Hustle network, and Hyphen Capital, also participated.
Artificial Intelligence: Startups Join Forces To Boost Citrus Production In Florida
Agriculture Intelligence and Satlantis, two University of Florida (UF) startups, have combined their core competencies of precision agriculture and aerospace technology respectively to boost citrus production in Florida. The state’s citrus industry just reported its lowest production in eight decades due to factors such as citrus greening disease, citrus canker and black spot disease.
Liquid Alternatives: Alternative Investments Pick Up As The 60/40 Mantra Fades
Rising interest rates, runaway inflation, and geopolitical turmoil have combined to ruin the pitch for the go-to 60/40 portfolio allocation between bonds and equities. Result: Advisors are leaning increasingly towards alternative investments and portfolio allocations to such products have risen sharply this year, according to a study by Cerulli Associates.
Venture Capital: Meals Provider FreshRealm Raises $200M
FreshRealm announced its raise of $200 million led by a premier global cornerstone institutional investor. The funds will enable the company to further drive its growth in the meal industry, which it estimates as a $30 billion market opportunity with retail partners.
Venture Capital: Contentsquare Lands $600M Series F, Doubles Valuation To $5.6B
Contentsquare announced the close of its $600 million round comprising a $400 million Series F round and $200 million in debt financing. Sixth Street Growth led the round alongside Bpifrance, Canaan, Eurazeo, Highland Europe, KKR, LionTree, SoftBank Vision Fund 2, and funds and accounts managed by BlackRock. BNP Paribas, Crédit Agricole Corporate & Investment Bank, Goldman Sachs, JP Morgan, and Société Générale participated in the debt facility.
Digital Assets: Tesla Sells Off Bitcoin Worth $936M On Liquidity Concerns
Elon Musk’s EV maker company Tesla (NASDAQ: TSLA) sold off $936 million, or three-quarters of its stash of bitcoins, in a bid to raise fiat money amidst lockdowns in China and a volatile global economic environment. The company had invested $1.5 billion in bitcoin early last year, saying the crypto offered “long-term potential.”
Artificial Intelligence: OpenAI Opens Up Beta Version Of DALL-E 2 To Millions On Waitlist
DALL-E 2 is a new AI system that can create realistic images and art from a description in natural language. In the coming weeks OpenAI will invite a million people from its waitlist to create images from text using the DALL-E 2 AI system. Users can create with DALL·E using free credits that refill every…
FinTech: UK Digital Bank Starling Clocks First Full Year Of Profitability
Starling Bank, the UK-based digital challenger bank, announced a maiden profit in its accounts for the financial year ended on March 31, 2022. Compared to a pre-tax loss of £31.5 million for the 16-month period to 31 March 2021, Starling earned a pre-tax profit of £32.1 million for the financial year ending 31 March 2022. Revenue for the latest year was £188 million, nearly doubling from the previous year.
Digital Assets: More Entities Halt Withdrawals, Layoff Staff Amidst The Crypto Bear Market
Even while bitcoin, the leading cryptocurrency is enjoying some bullish tailwinds that have nudged it above the $24K level, news flow in the digital assets market shows it may still be premature to call an end to the so-called crypto winter that commenced in November last year.
Venture Capital/ESG: TAE Achieves 75 Million Degrees Celsius In Fusion Energy Reactor, Raises $250M From Marquee Investors
TAE Technologies, the fusion energy startup on track to commercialize its technology by the mid-2030s, has raised a $250 million Series G-2 round from investors including Google (NASDAQ: GOOGL), Chevron (NYSE: CVX), Sumitomo Corporation (TYO: 8053) of Americas, TIFF Investment Management, Reimagined Ventures, a large U.S. West coast based mutual fund manager, a big U.S. pension fund, and others. The round recognized TAE’s progress towards commercial fusion energy after Norman, the company’s fifth-generation fusion reactor, sustained stable plasma at more than 75 million degrees Celsius, 250% higher than its original goal.
Alternative Investments/ESG: ARK To Shutter Its Transparency ETF
Cathie Wood’s ARK Investment Management LLC announced the closure of its ARK Transparency ETF (BATS: CTRU) with effect from July 26, on which date it will stop trading on the CBOE. The investment manager said it decided to shutter the ETF because Transparency Global, the provider of the ETF’s index, will stop calculating the Transparency Index (TRANSPCY) effective July 31, 2022.
Artificial Intelligence: Olive AI Lays Off 450 Employees Citing Unfocused Growth
Healthcare-focused AI startup Olive AI has let go of 450 employees in an organizational and strategic rejig which it attributed to strategic missteps in pursuing a high-growth path.
Liquid Alternatives: Fidelity Investments Launches Two New Liquid Alt Mutual Funds
As the standard 60/40 portfolio allocation looks increasingly shaky, a hunt is afoot for alternative products, and liquid alternatives are tracking higher on investors’ radar. Fidelity Investments launched last week the Fidelity Macro Opportunities Fund (FAQFX) and Fidelity Risk Parity Fund (FAPZX), two new mutual funds marking the firm’s foray into liquid alternatives.