News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
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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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Alternative Investments/Digital: As Hackings Get Bigger, More Sophisticated, CyberSecurity ETFs May Benefit
Last week Microsoft blamed the “Hafnium” group and the Chinese state for hacking its Outlook email software, allegedly compromising 20,000 U.S. organizations. On Sunday, the White House warned that though Microsoft (NASDAQ: MSFT) had issued a patch for its software, unresolved vulnerabilities remained. “This is an active threat still developing and we urge network operators to take it very seriously,” a White House official said.
Digital Assets: More Listed Corporates Across The Globe Opt For Bitcoin
Chinese internet behemoth, Meitu Inc (HKG: 1357), which boasts of over a billion users of its flagship app, announced on Sunday that it had made a sizable investment of approximately $40 million in cryptocurrencies.
Venture Capital: SunFunder Raises $70M For Its Solar Energy Transformation (SET) Fund
An investment from OesterreichischeEntwicklungsbank AG (OeEB), the Austrian government’s development bank, has helped SunFunder close its oversubscribed $70 million Solar Energy Transformation Fund. Other participants in the fund included Swedfund, the IKEA Foundation, Bank of America, Mercy Investment Services, the Schmidt Family Foundation, and members from the Toniic impact investor network.
FinTech: Starling Bank Raises £272 Million Series D Funding At £1.1 Billion Pre-Money
U.K.-based neobank Starling Bank announced on Monday its £272 million ($376 million) Series D funding round led by Fidelity Management & Research Company, alongside Qatar Investment Authority, RPMI Railpen, the investment manager for the £31 billion Railways Pension Scheme, and the global investment firm Millennium Management.
Artificial Intelligence: Boeing’s AI-Powered Loyal Wingman Drone Completes Maiden Flight In Australia
The Loyal Wingman is an unmanned military aircraft that is designed to fly as a partner with crewed Air Force formations. It is meant to complement and extend manned air combat systems. Tuesday’s successful flight confirmed the possibilities of combining AI and an autonomous system thereby creating smart human-machine teams.
Alternative Investments/Digital: The CI Galaxy Bitcoin ETF Launches On The TSX Tomorrow
After bitcoin ETFs from the Evolve Funds Group and Purpose Investment both listed on the TSX last month, a third ETF, this time from CI Global Asset Management, will debut on the Toronto Stock Exchange tomorrow (March 9).
Venture Capital: AM Ventures Floats First-Ever Fund Focused On 3D Printing
Here’s a specialist, industry-specific venture fund dedicated to the industrial 3D printing industry. AM Ventures closed last week on a €100 million fund that will back founders looking to transform the world with 3D printing.
FinTech: The UAE Gets YAP, Its First Digital Banking Platform
Neobank YAP has launched the U.A.E’s first digital banking platform. Applicants on a waiting list, numbering over 25,000, can hope to get a bank account, a YAP Mastercard Debit Card, and an app that provides spending analytics. It also offers means to transfer money and pay bills, and real-time notifications of purchases, withdrawals, and transfers.
Digital Assets: White House Warns Of “Active Threat” From Outlook Email Vulnerabilities
On Sunday, the White House warned that though Microsoft (NASDAQ: MSFT) had issued a patch for its software, unresolved vulnerabilities remained. “This is an active threat still developing and we urge network operators to take it very seriously,” a White House official said.
Artificial Intelligence: Lee’s Famous Recipe Chicken Using Conversational AI
Drive-thru, fast food restaurants such as Lee’s Famous Recipe Chicken at Englewood, Ohio, face both staff shortages and a surge in customer demand due to the pandemic. Employees are getting harder to find because they are reluctant to work in a customer-facing position for hours on end while wearing a mask. On the other hand, pandemic -wary customers find drive-thru’s a good solution to pick up food quickly and at minimal contagion risk.
Alternative Investments/Digital: Goldman Survey Shows Investors Are Bullish On Cryptos
The Block, which had access to the results of a survey of 280 Goldman Sachs (NYSE: GS) clients on the subject of digital asset investing, reported that investors are bullish on the prospects of cryptocurrencies.
FinTech: More Stern Rhetoric On Regulation Of Chinese Fintechs From Premier Li Keqiang
Chinese Premier Li Keqiang said at the opening of the National People’s Congress today that Chinese regulators will further tighten supervision of the country’s financial holding companies and its fast-growing fintechs. He also warned that the government will deepen its efforts to discourage monopolies and the use of capital as an anti-competitive tool.
Venture Capital: Aero, Which Promises “Premium Semi-Private Jets All First Class,” Nabs $20M
Luxury air travel provider Aero launched its inaugural flight between Los Angeles’s Van Nuys Airport and Aspen’s Pitkin County Airport on Thursday. Tickets are $ 990 each way through February. Aero is backed by Uber’s co-founder Garret Camp. Aerospace engineer veteran Uma Subramanian is CEO. The service offers flights without queues, private lounges for boarding, and in-flight social distancing with just 16 seats per aircraft. The start-up raised $ 20 million in Series A funding.
Digital Assets: Ripple Refutes The SEC’s Charges In 100-Page Reply
Ripple claims XRP is a virtual currency, not a security, and the SEC has no authority to regulate it as one. Ripple Labs on Thursday filed its answer to the complaint by the US Securities and Exchange Commission that ripples distributions of XRP constituted investment contracts and were subject to registration under the Securities Act…
Artificial Intelligence: TytoCare Uses AI For Remote Medical Checks
TytoCare, has developed a platform and devices that use AI to perform remote medical examinations for doctors and clinicians. Healthcare organizations, hospitals, and insurers around the world recommend TytoCare’s telehealth kits (pictured below) for monitoring the health of patients remotely and virtual caregiving. The Israeli telehealth startup just raised $50 million in a Series D round, doubling its valuation.
Alternative Investments/ESG: Invesco Launches Global Clean Energy ETF In London
Invesco has launched its Global Clean Energy UCITS ETF on the London Stock Exchange denominated in US dollars (GCLE LN) and pound sterling (GCLX LN). The new thematic ETF is linked to the WilderHill New Energy Global Innovation Index from WilderShares, LLC. The expense ratio of the ETF is 0.60%.
Digital Assets: A $200M Fund From Crypto.com To Support Crypto Startups
Crypto.com launched today a $200 million fund for investing in crypto startups at seed and series A stages. The venture arm, Crypto.com Capital, will lead seed rounds with cheque sizes between $100k and $3m and Series A rounds from $3m to $10m.
FinTech: Square Acquires Jay-Z Led Streaming Service Tidal For $297M
Square Inc (NYSE: SQ), the payments giant, announced today its acquisition of a majority interest in TIDAL, the audio and video streaming platform led by Jay-Z, for $297 million in cash and stock. Existing artist shareholders will be the remaining stakeholders, the announcement said, and Shawn “JAY-Z” Carter would be named to Square’s board of directors.
Venture Capital: Virtual Events Provider Hopin Collects $400M In A Series C Round
Online events, once necessitated from the pandemic’s demand for social distancing, are here to stay it seems. Companies can scale up virtual events, earn a broader and global reach without boundaries, and do so at much lower costs. What’s more, there are so many more digital data payoffs from the interactions during virtual conferences. These can prove invaluable for marketing teams. Virtual events provider Hopin, which promises to help you set up a virtual event in just minutes, is clearly in a clover patch, judging from its latest raise.
Artificial Intelligence: Tiny Aerial Robots From MIT That Are Collision Proof
MIT Assistant Professor Kevin Yufeng Chen has developed small drones that are powered by soft “actuators” instead of conventional motors. These actuators are capable of absorbing and recovering from collisions, high winds, and drops, much like those pesky mosquitos that keep returning after you’ve swatted them away. Because of this resilience, and their small size, these mini drones are capable of many tasks that larger drones cannot accomplish.
Digital Assets: India’s Tata Power Testing Blockchain-Based P2P Solar Energy Trading Marketplace
Tata Power DDL, a power distribution utility in Delhi, India, Australian technology company Power Ledger and the India Smart Grid Forum (ISGF) are collaborating on a project to enable the peer-to-peer (P2P) trading of solar energy using the blockchain.
Artificial Intelligence: Beam Provides AI-Powered Dental Insurance Cover
Beam Dental, a dental insurer, uses AI in its operations (and toothbrushes) to assess people’s dental health and issue quotes in just 30 seconds. Beam’s app-connected brushes incentivize users to brush regularly and improve dental hygiene. In turn, they qualify for rebates on their dental insurance.
Alternative Investments/Hedge Funds: Man Group Reports Alternatives Funds AUM At $77.2B
Man Group (LON: EMG), the listed London-headquartered global hedge fund group, reported a strong set of numbers for 2020. Aggregate AUM moved up sharply to a record $123.6 billion as of end-December. Despite the pandemic, Man attracted net investor inflows of $1.8 billion, which reversed 2019’s outflows of $1.3 billion.
Venture Capital: Instacart Raises $265M; “Incredible Opportunity Ahead”
Online grocery delivery platform Instacart announced on Tuesday its raise of $265 million as part of a new funding round. The company confirmed the round boosted its valuation to $39 billion. Existing investors including Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company LLC, and T. Rowe Price Associates, Inc. participated in the funding.