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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: Insurtech wefox Lands $400M Round Series D At $4.5B Valuation
Berlin-based insurtech wefox has raised $400 million in a Series D equity round led by Mubadala Investment Company with participation from EDBI, Eurazeo, LGT, Horizons Ventures, OMERS Ventures and Target Global. In the present environment rife with down rounds (e.g. Klarna), layoffs and collapsing public market values of listed fintechs, wefox said it bucked the trend currently experienced in the insurtech market and more broadly across the tech sector.
FinTech: Agrotoken Backs Its Visa Alliance With Blockchain For Agro-Focused Card
Agrotoken, which is developing a tokenized infrastructure for trading agrocommodities, announced Monday its partnership with Pomelo (a provider of technological infrastructure for financial services) and Algorand (a layer-1 blockchain) to develop a card for the agrocommodity sector. Agrotoken previously entered an alliance with Visa (NYSE: V) to create a payment method allowing agricultural producers to use their grains as a form of payment through a card.
Digital Assets: UK Jeweller Graff Sues Insurer For Not Reimbursing Bitcoin Ransom Payment
Graff, a British luxury jeweller, is taking insurer The Travellers Companies to court for not paying up a claim of $7.5 million on account of a bitcoin ransom that it paid to Russian hacker gang Conti. Graff was forced to pay the amount to prevent a leak of data relating to its big clients, including Middle East royalty.
Artificial Intelligence: AI Model Detects Alzheimer’s Disease From Audio Recordings
Researchers at Boston University have developed a new machine-learning based tool that detects Alzheimer’s Disease from voice recordings of neuropsychological exams. This could help automate the time-consuming and cumbersome process of a manual evaluation of the person’s responses, as well as make it possible for the diagnosis to be made online because an in-person appointment is not required.
FinTech: Klarna Raises $800M At Slashed Valuation To Pursue US Expansion
It’s a monster down round (one in which the startup is forced to accept a lower valuation than that in a previous round) for Klarna, showing how risk averse venture firms have become in an environment that punishes tech companies first and asks questions later. It is also a pointer to the slowing allure of buy-now-pay-later (BNPL), a fintech product that is Klarna’s bread and butter line. The fintech’s latest round received investment from existing investors including Sequoia, the founders, Bestseller, Silver Lake and Commonwealth Bank of Australia. New investors included the Mubadala Investment Company and the Canada Pension Plan Investment Board.
Digital Assets: Three Arrows Capital Founders Allegedly Absconding
The founders of Three Arrows Capital, the collapsed crypto hedge fund operating out of Singapore, are untraceable, says the legal team of the fund in a Chapter 15 bankruptcy filing in the U.S. Bankruptcy Court of the Southern District of New York. The whereabouts of the fund’s cofounders, Su Zhu and Kyle Davies, are not known, said the filing.
Venture Capital/ESG: Blackstone Invests $400M In Carbon Platform Xpansiv
Blackstone announced that funds managed by Blackstone Energy Partners have invested $400 million in Xpansiv Limited, a market infrastructure platform for carbon and environmental commodities, as a strategic investment.
Artificial Intelligence: China Has AI Systems Claimed To Be Able To Read Minds
Researchers claim the Comprehensive National Science Center in Hefei, China, has developed brainwave-reading artificial intelligence systems to detect whether or not an individual supports the CCP, China’s Communist Party. In addition, the system purportedly registers a person’s allegiance to the CCP by measuring their brainwaves, facial expressions, and reactions to ‘political and thought education.’ The system ‘measures loyalty’ or reads minds in some manner. People took a stand in opposition to the post and it was subsequently taken down.
Fintech: With The Plum Card, Users Can Set Their Budgets And Spending Limits
London-based fintech Plum, known for its personal finance app, has built these features into its debit card – the Plum Card. Said to be the company’s latest addition to its money management toolkit, it aims to give you better visibility and control over your finances.
Venture Capital: Cyber Insurance Provider Coalition Lands $250M After Year Of Torrid Growth
Coalition, a provider of insurance against cyber risks, announced today it had closed a $250 million funding round in June. Allianz X, Valor Equity Partners, Kinetic Partners and other existing investors participated in the investment which valued Coalition at $5 billion.
Digital Assets: Niches Of The Cryptocurrency Market Have “Real Crash Potential” (Bankman-Fried)
Speaking on an interview with CNN, Bankman-Fried made some sobering comments on the state of the cryptocurrencies market, which is currently getting some much-needed love from investors. Bitcoin the leading cryptocurrency, is trading at $21,690.03, up over 3% in 24 hours, and gaining nearly 24% from its recent, 52-week low of $17,614.34.
FinTech: Payments Platform Wirex Offers Credit Against Collateral Of Your Crypto
Wirex, the London-headquartered digital payments platform which aims to blur the gap between traditional currencies and crypto, has announced Wirex Credit, a product that offers highly competitive interest rates and no origination fee for crypto-backed loans. Users can easily borrow, within the Wirex app, up to $100,000 in stablecoins, with a loan to value (LTV) of up to 80%.
Venture Capital: Fyto, Which Grows Unique Aquatic Plants For Dairy Feed, Raises $15M
Fyto, a sustainable foodtech startup headquartered in the San Francisco Bay Area, has developed hardware and software systems for the sustainable production of “superplants,” or highly nutritious aquatic plants that can be grown and harvested round the year. Fyto announced Thursday its $15 million Series A raise led by GV (formerly Google Ventures), with existing investors AgFunder, Refactor Capital, First Star Ventures, and Bolt also participating in the funding.
Artificial Intelligence: After Fintechs And Crypto, Lay Off Contagion Hits Argo AI
A report in Tech Crunch says recession fears have led Argo AI, a startup focused on self-driving technology, to lay off as many as 150 people and take it easy on new hiring. Argo AI is backed by Ford (NYSE: F) and Volkswagen (ETR: VOW3).
FinTech: Fintechs In Kenya And India Under Regulatory Glare For Alleged Money Laundering
Alleged money laundering by fintechs has drawn regulatory wrath in unconnected matters in Kenya and India. A court in Kenya has frozen more than $40m in accounts belonging to Africa-focused fintech payments giant Flutterwave under the country’s anti-money laundering laws. In India, the country’s Enforcement Directorate attached 86.6 crore rupees (about $11 million) from various fintechs and finance companies under the criminal sections of the Prevention of Money Laundering Act (PMLA).
Digital Assets: In Domino Effect, Voyager Digital Files For Chapter 11 Bankruptcy
Crypto broker Voyager Digital (TSE: VOYG) filed for bankruptcy protection under Chapter 11 on Tuesday, according to an announcement by the company. The move follows after a bankruptcy filing by Three Arrows Capital, a crypto hedge fund that owes Voyager more than $650 million in loans. Voyager had previously halted withdrawals, trading, and deposits from customers following a default by Three Arrows Capital on loan repayment.
Venture Capital: BASF Invests In VC Climentum Capital To Develop CO2 Reducing Technology
BASF Venture Capital GmbH, the corporate venture arm of BASF (ETR: BAS), has invested in Climentum Capital’s first €150 million venture fund focusing on CO2 emission reductions. Other investors in the fund include Danish growth fund Vaekstfonden and Arbejdernes Landsbank, corporate investors, banks, industrial conglomerates as well as prominent family offices and successful tech entrepreneurs.
Alternative Investments/ESG: VanEck Launches European ETF Focusing On Sustainable Food Megatrend
The VanEck Sustainable Future of Food UCITS ETF has been listed on London Stock Exchange in US dollars (VEGI LN) and pound sterling (VEGB LN) as well as on Deutsche Börse Xetra in euros (VE6I GY). This new ETF will look for opportunities in plant-based meat and dairy alternatives, vertical farming, precision agriculture, functional ingredients, and vegan organic and health foods.
Artificial Intelligence: An Advanced AI-Enabled Virtual Assistant Referee Will Detect Offsides At The World Cup 2022
At the FIFA World Cup 2022™ in Qatar starting on 21 November, FIFA will use a semi-automated offside technology to assist video match and on-field officials in making more accurate and quicker offside decisions.
Venture Capital: Volvo’s Venture Arm Invests In Optibus, Which Optimizes Public Transportation
Volvo Group Venture Capital AB, the corporate venture arm of the Volvo Group (STO: VOLV-B), has invested an undisclosed amount in Optibus Ltd, a software platform for making transportation more efficient and sustainable. The investment is expected to accelerate the digitalization and electrification of the global public transportation sector, given that the Optibus platform is used in 1,000 cities in 26 countries globally.
Digital Assets: Atlantic Equities Downgrades Coinbase Citing “Misinformation” Around the Company
Simon Cinch, an analyst at Atlantic Equities, has downgraded Coinbase (NASDAQ: COIN) to Neutral from Overweight, and flagged a potential downside of another 37% to the stock price, or $35 per share. Coinbase is currently trading at $52.62 per share. The analyst cited a slew of concerns for the downgrade, chiefly market developments that would possibly severely impact Coinbase’s revenue.
Liquid Alternatives: “A Diverse Range Of Strategies That Can Zig When The Market Zags”
Lukas Strobl, editorial manager for EMEA at Morningstar, interviews Francesco Paganelli. The topic: Liquid alternatives as a “hedge fund-lite” kind of strategy.
Artificial Intelligence: Diabetes Can Be Identified By AI Through Analysis Of Retinal Images
An eye doctor is likely to be the first person to detect diabetes, if only coincidentally, when they find evidence of diabetic retinopathy, a common complication arising from diabetes. However, by the time this is detected, it means the patient has suffered the disease for a long time, and is likely to have other complications such as periodontal disease and foot-and-ankle disease. AI technology goes a step ahead, however. It is even able to detect diabetes from retinas that appear healthy.
Digital Assets: After Liquidation Order In The British Virgin Islands, Three Arrows Files For US Bankruptcy
On Friday, according to a CNBC report, troubled crypto hedge fund Three Arrows Capital (3AC) applied for protection from creditors by filing for bankruptcy in the US under Chapter 15 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the Southern District of New York on Friday.