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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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Digital Assets: Swiss Hospitality Company Gabbani Converts Surplus Energy From Food Facility For Use In Bitcoin Mining
Gabbani has installed a 100k KW solar panel production system at its production facility. Gabbani, a renowned hospitality company based in Lugano, is set to elevate Lugano’s reputation as the premier European blockchain hub. The company’s groundbreaking project integrates sustainable energy practices with cryptocurrency mining, specifically Bitcoin mining. This initiative leverages excess energy generated by…
Artificial Intelligence: Universal Music Sues Anthropic For Illegally Scraping Copyrighted Songs
Universal Music (AMS: UMG), along with two other major music companies, has initiated a copyright infringement lawsuit against Anthropic, an AI startup. The complaint revolves around Anthropic allegedly scraping copyrighted songs without permission and using them to create lyrics that are almost identical to the original content. This action is primarily related to Anthropic’s AI model known as Claude, which competes with ChatGPT.
FinTech: Marqeta And Italy’s Scalapay Join To Boost BNPL Use In Europe
Marqeta (NASDAQ: MQ) has unveiled an exciting partnership with Scalapay, the leading Buy Now, Pay Later (BNPL) provider in Southern Europe. This collaboration aims to deliver BNPL services across Europe, catering to over five million customers.
Artificial Intelligence: AI-Chipmaker Nvidia And iPhone Maker Foxconn Join Hands To Make “AI Factories”
Nvidia (NASDAQ: NVDA) and Foxconn (TPE: 2354) are joining forces to establish “artificial intelligence factories,” signifying a diversification move for the Taiwanese electronics manufacturer. This development comes in the wake of the US tightening regulations on AI chip sales to China, impacting Nvidia and other high-performance semiconductor suppliers in the nation.
Venture Capital: General Catalyst And German VC Firm La Famiglia In Rare Merger Transaction
The German early-stage fund La Famiglia, known for its successful investments in companies like Personio and Deel, is teaming up with the prominent US venture capital firm General Catalyst, which has notably backed Airbnb (NASDAQ: ABNB) and other ventures. This merger is a rare occurrence in the world of venture capital, with one of the United States’ largest and most active investors strengthening its presence in Europe, reflecting the growing global importance of the European tech ecosystem.
Alternative Investments/ESG: DWS Unveils Suite Of High Dividend, Low Carbon ETFs
DWS has unveiled a set of four high dividend ETFs in Europe, catering to environmentally conscious investors. These exchange-traded funds (ETFs) are linked to indices within the MSCI High Dividend Yield Low Carbon SRI Screened Select Index family, focusing on various regional markets, including global developed, US, European, and eurozone stocks. The quartet includes the Xtrackers MSCI World High Dividend Yield ESG UCITS ETF, the Xtrackers MSCI Europe High Dividend Yield ESG UCITS ETF, the Xtrackers MSCI EMU High Dividend Yield ESG UCITS ETF, and the Xtrackers MSCI USA High Dividend Yield ESG UCITS ETF.
Alternative Investments/ESG: HSBC Launches Global Climate Tech UCITS ETF On London Stock Exchange
HSBC Asset Management has introduced a new addition to its range of thematic ETFs, unveiling the HSBC NASDAQ Global Climate Tech UCITS ETF (HNCT). This ETF, with a total expense ratio (TER) of 0.50%, is now listed on the London Stock Exchange and will soon be available on the Deutsche Boerse and Borsa Italiana.
FinTech: Revolut Doubles Its Financial Crimes Headcount
Revolut has significantly expanded its Financial Crime (FinCrime) department, doubling its headcount since 2021. This expansion is in response to the growing threat of financial fraud. In the face of over £1.12 billion in fraud losses in the UK in 2022, Revolut is investing in top-tier talent to combat this menace. Currently, more than a third of Revolut’s workforce is dedicated to fighting financial crime, with over 2,500 FinCrime experts across six markets, spanning various functions.
Venture Capital: Indian Space Startup Agnikul Raises $26.7M For Small Satellite Rockets
IIT Madras-incubated Agnikul Cosmos recently completed its Series B fundraise, securing an impressive $26.7 million. This round included investments from notable funds like Celesta Capital, Rocketship.vc, Artha Venture Fund, and Artha Select Fund, along with continued support from existing investors like pi Ventures, Speciale Invest, and Mayfield India.
Artificial Intelligence: Researchers Devise A System Of AI And Robots To Detect A Supernova
In a groundbreaking development, a fully automated process, driven by a new artificial intelligence (AI) tool, has successfully detected, identified, and classified a supernova. This remarkable achievement comes courtesy of an international collaboration led by Northwestern University. The new system, named the Bright Transient Survey Bot (BTSbot), has effectively removed humans from the process, radically accelerating the search and classification of supernova candidates while eliminating the potential for human error.
Alternative Investments/ESG: KraneShares Offers ETF Focused On Chinese Clean Tech Companies
KraneShares, a prominent asset management firm renowned for its global exchange-traded funds (ETFs) and groundbreaking investment strategies, has unveiled the KraneShares MSCI China Clean Technology Index UCITS ETF (Ticker: KGRN) on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. This ETF, KGRN, is a passive fund that mirrors the MSCI China IMI Environment 10/40 Index, centered around four pivotal Clean Technology environmental themes: Alternative Energy, Sustainable Water, Pollution Prevention, and Energy Efficiency.
Venture Capital: Laphair Capital Partners Launches $100M Alpha Fund I, Targeting Companies Focused On Social Responsibility
LaPhair Capital Partners has unveiled its flagship venture capital fund, Alpha Fund I, with a substantial goal of raising $100 million for investment. This fund has a unique focus on social responsibility within high-growth markets, aiming to address systemic disparities by serving underserved communities. The fund’s strategy centers on early-stage companies and aspires to achieve a minimum return of 35 percent.
Artificial Intelligence: Low-Paid Workers In Poor Countries Label Data For AI Tech Giants
An article in Wired exposes how large tech companies are using workers in poorer countries, from Philippines to Colombia, to label data for training AI at wages amounting to a pittance.
Digital Assets: ProShares Files For Short Ether ETF
After recently expanding its exchange-traded fund (ETF) offerings by introducing three ether futures ETFs, ProShares is now gearing up to present an innovative product in the form of the Short Ether Strategy ETF (SETH). The new ETF is expected to hit the market shortly, approximately two weeks after the debut of the initial ether futures ETFs. The registration filing was submitted to the U.S. Securities and Exchange Commission on October 13.
Digital Assets: Mastercard and Reserve Bank Of Australia Conduct Successful Pilot Of CBDC On Multiple Blockchains
Mastercard (NYSE: MA) recently participated in a groundbreaking initiative, the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre’s (DFCRC) central bank digital currency (CBDC) pilot project. This venture explored potential use cases for CBDC in Australia. During the project, Mastercard unveiled innovative technology that facilitates the interoperability of CBDCs with various blockchains, ensuring secure utilization by authorized entities.
FinTech: LendingClub Fires 14% Of Employees Citing Difficult Economic Conditions
LendingClub (NYSE: LC), a prominent player in the financial industry, has unveiled a comprehensive plan aimed at aligning its cost structure with the rapidly changing, and increasingly adverse, macroeconomic landscape. In light of persistent macroeconomic challenges, driven primarily by rising interest rates, the company has decided to take proactive measures. Scott Sanborn, the Chief Executive Officer of LendingClub, acknowledges the difficulties ahead and highlights the need to streamline their workforce. This tough but necessary decision will result in a reduction of about 14% of the company’s workforce, equating to 172 employees. Importantly, this move is expected to yield substantial annualized cost savings, ranging from $30 to $35 million compared to the second quarter of 2023.
Venture Capital: Bedrock Energy Lands $8.5M For Its Geothermal Energy Solution Aimed At Commercial Buildings
Bedrock Energy, a tech startup specializing in geothermal heating and cooling systems, has secured $8.5 million in seed capital. This funding round, led by Wireframe Ventures and featuring participation from various investors including Overture Climate VC, Long Journey Ventures, and Climate Capital, is set to accelerate the manufacturing and deployment of innovative technologies. These advancements aim to enhance the economic viability of all-electric geothermal HVAC systems, ultimately contributing to Net Zero operations for real estate properties.
Artificial Intelligence: AI Helps Decipher A Word On The Herculaneum Scrolls
In a monumental breakthrough, the Herculaneum scrolls, long considered unreadable due to their damage from the eruption of Mt. Vesuvius in 79 CE, have yielded their secrets. Computer science professor Brent Seales, along with partners from EduceLab, the Library of the Institut de France, and the Vesuvius Challenge, hosted an event to announce the reading of an entire word from the scrolls. The Greek characters, πορφύραc, were revealed to mean “purple dye” or “clothes of purple.”
Venture Capital: Sony Establishes Entertainment-Focused Venture Fund For Startups In Africa
Sony Group Corporation (TYO: 6758) has unveiled the “Sony Innovation Fund: Africa,” an initiative designed to bolster the growth of the entertainment industry across the African continent. This move extends Sony’s commitment to fostering new business ventures worldwide, which began in 2016. The corporation has previously contributed to the expansion of startup companies through various funds, such as the “Sony Innovation Fund” (2016), focused on seed to early-stage companies, and the “Innovation Growth Fund” (2019), established in partnership with Daiwa Capital Holdings Co. Now, Sony is adding the “Sony Innovation Fund: Africa” to its lineup.
Digital Assets: Bitcoin Superior To Gold Says Report By Fidelity Digital Assets
In its September 2023 study, Fidelity Digital Assets presents a compelling case for Bitcoin as a distinctive asset class, highlighting its potential over traditional investments like gold and stocks. This report, authored by Chris Kuiper and Jack Neureuter, underscores the uniqueness of Bitcoin in terms of asset diversification.
FinTech: Goldman Sachs Jettisons GreenSky; To Focus On Core Businesses
Goldman Sachs (NYSE: GS) has announced its plan to sell the GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street. This significant transaction is set to be completed in the first quarter of 2024, subject to usual closing conditions. David Solomon, Chairman and CEO of Goldman Sachs, emphasized that this move aligns with their strategy of narrowing their focus on core franchises in Global Banking & Markets and Asset & Wealth Management.
Artificial Intelligence: In Five Years’ Time, AI Could Escape Human Control – Geoffrey Hinton, the Godfather Of AI
Geoffrey Hinton, renowned as a “Godfather of AI,” has issued a warning that artificial intelligence could potentially surpass human control within the next five years due to rapid advancements in AI technologies. In a recent interview on CBS’ “60 Minutes,” the 75-year-old computer scientist expressed concern about AI systems writing their own code, making them difficult to manage. Hinton, who received the Turing Award in 2018 for his pioneering work in AI and deep learning, left his position at Google (NASDAQ: GOOGL) in May to openly address the risks associated with AI.
FinTech: Revolut Launches Version 10 Of Its App – “The Era Of Ease”
Revolut 10 has launched on a significant day, 10.10, is set to redefine customers’ money management experience. This latest version of the Revolut app brings a fresh, streamlined look and a host of features designed to make handling finances a breeze.
Alternative Investments/ESG: Franklin Templeton And Clearbridge Investments Launch Sustainable Global Value Equity Fund
Franklin Templeton and ClearBridge Investments have collaborated to introduce the FTGF ClearBridge Global Sustainability Improvers Fund, a new global value equity fund. This fund represents a significant move towards investing in companies that are actively enhancing their Environmental, Social, and Governance (ESG) profiles.