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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Artificial Intelligence: An AI-Powered Breathalyzer Test For COVID-19
A sophisticated breathalyzer device that uses artificial intelligence and advanced mass spectrometry technology to detect whether a person is COVID positive has been developed and tested by Worlds Inc, the Texas A&M System, and the U.S. Air Force. Housed inside a kiosk, the Worlds Protect device analyses the exhaled breath from an individual and delivers the test result to a smartphone almost instantly.
Digital Assets: Banking-As-A-Service Provider ClearBank To Partner Gemini For U.K. Banking
Leading crypto exchange and custodian Gemini has engaged ClearBank, the cloud-based clearing bank, to provide banking services in the UK. Gemini has rolled out its trading and custody services in the UK after receiving an Electronic Money Institution license from the Financial Conduct Authority (FCA) last month.
FinTech: Financial Fraud Detecting Platform Verafin Sold To Nasdaq
Global technology company Nasdaq (NASDAQ: NDAQ) announced today its acquisition of Canada-based Verafin for $2.75 billion payable in cash. Verafin’s cloud-based software platform serves customers with fraud detection, money laundering protection, and high-risk customer management. The 2003-founded firm counts more than 2,000 financial organizations as its customers.
Artificial Intelligence: IBM Acquires Germany-based Software Firm Instana
IBM (NYSE: IBM) announced Wednesday its acquisition of German software company Instana for an undisclosed amount. The acquisition will help businesses better manage the complexity of modern applications, considering they span the hybrid cloud landscape and use AI extensively.
Liquid Alternatives: Leatherback Asset Management Launches Its First ETF
Leatherback Asset Management is led by Michael Winter (pictured above), founder and 20 year veteran of the mutual fund an alternative asset management industry. The firm announced Tuesday the launch of its first exchange-traded fund: The Leatherback Long/Short Alternative Yield ETF (NYSEARCA: LBAY).
Venture Capital: As Marketplace Commerce Booms, HeyDay Raises $175M In Series A Funding
Heyday, the platform which provides e-commerce sellers with technology, tools, and resources to build brands, emerged from stealth and raised $ 175 million. Investors included General Catalyst, Khosla Ventures, Arbor Ventures, and executives from Amazon, eBay, PayPal, and Magento. Sebastian Rymarz and Adam Gerchen founded Heyday in August.
Digital Assets: Is Crypto Adoption Breaking Out?
Novogratz of Galaxy Digital fame, who is also a noted crypto evangelist, recently said on Twitter that the “network effect” might have caught up with bitcoin. He assigned a target of $65,000 for the cryptocurrency.
Here’s a look at recent, interesting developments surrounding crypto and bitcoin that suggest Novogratz might be on point.
FinTech: Heavyweights Are Match-Making In Global Cards And Payments
The rapid and global pivot towards digital payments as a result of the virus pandemic appears to have unleashed another trend. Biggies in the payment and card sectors are forming strategic partnerships to draw in a larger share of the transactions pie. Card issuing company Marqeta has partnered with Uber (NYSE: UBER) on a global cards and payment system. Mastercard (NYSE: MA) enabled Google Pay for its cardholders in a host of European countries.
Alternative Investments/ESG: JP Morgan Launches Carbon Transition Focused Equity ETF
The new JPM Carbon Transition Global Equity UCITS ETF – USD (acc) from JP Morgan Asset Management provides investors exposure to companies that contribute to a reduction in carbon dioxide emissions. These are large or medium-sized companies drawn from industrialized countries globally and are constituents of the MSCI World Index.
Artificial Intelligence: AI Found Bariticinib As A Potential Treatment For COVID-19
In July, we wrote about how researchers at BenevolentAI found that baricitinib, a drug used for rheumatoid arthritis developed by Eli Lilly (NYSE: LLY), could be used to treat COVID-19, the deadly virus disease afflicting the globe. A new study dated November 13 has found that baricitinib can reduce the risk of death by Covid 19 in elderly people.
Venture Capital: Relativity Space, Whose Rockets Are 3-D Printed, Is Raising $500M
Relativity Space, a startup building rockets in a “factory of the future” using 3D printing, artificial intelligence, and autonomous robotics, is raising $500 million. The funding round will be led by Tiger Global Management. Existing investors including Social Capital, Playground Global, Y Combinator, Bond Capital, Tribe Capital, Jared Leto, and Mark Cuban, are also expected to join the round. People familiar with the financing told CNBC that the funding would value Relativity at $ 2.3 billion.
Digital Assets: Singapore’s Propine And Skyhook Capital Tie Up For Institutional Digital Business
Singapore-based Skyhook Capital’s “Digital Assets Wealth Network” or Skyhook DAWN™, offers a “total solution” for business integration of digital securities into conventional investment product distribution channels. Propine is Singapore’s first independent and regulated digital asset custodian.
Venture Capital: Norway-based Urban Planning Startup Spacemaker Acquired For $240M
Autodesk (NASDAQ: ADSK), a company that makes software for the engineering and design industries, has acquired Spacemaker, a startup developing cloud-based AI software, empowering users to collaborate, analyze and design real estate sites, and urban planners to envision cities.
Alternative Investments/Digital Assets: Bitcoin Perma-Bull Mike Novogratz Is On A Roll
The Galaxy Digital boss sees bitcoin at $65,000.
The “network effect” has taken bitcoin over, says Novogratz. In a nutshell, the network effect is a rapid improvement in the value of an asset or service because of its adoption by an increasing number of people. As this is being written, bitcoin is hovering around $17,000. The cryptocurrency is in a bull grip, having risen from a March low of $3,966 to today’s (and 52-week) high of $17,092.
Artificial Intelligence: AI Startups AliveCor And Ride Vision Raise Money
AliveCor’s AI-based products provide personal cardiological services. Its FDA-approved KardiaMobile device instantly detects heart conditions such as atrial fibrillation, bradycardia, tachycardia, and normal heart rhythm in an ECG. The company’s Kardia platform is AI-enabled and helps in the early detection of atrial fibrillation, which is very highly likely to cause a stroke.
FinTech: Now Use PayPal And Venmo QR Codes For Contactless Payments At 8,200 CVS Pharmacy Stores
Customers at 8,200 locations of CVS Pharmacy across the country can now safely make contactless payments using the QR codes of PayPal (NASDAQ: PYPL) and Venmo. Announcing this on Monday, the retail chain, a division of CVS Health (NYSE: CVS), said customers need no longer touch a keypad or sign a receipt at the checkout points-of-sale at its standalone locations.
Digital Assets: Why Citi Sees Bitcoin At $318K By December 2021
Fitzpatrick is also the global head of the award-winning CitiFXTechnicals product within the G10 FX business. In a report addressed to Citi’s (NYSE: C) institutional clients, he dubbed bitcoin as the new gold. He also went on to assign a ‘hold-your-breath’ price target of $318,000 for the cryptocurrency by the end of 2021.
Alternative Investments/AI: A New “Disruptively Themed” Index From Goldman Sachs And Solactive
In August, Goldman Sachs Asset Management (GSAM) announced that its trustees had approved the merger of five thematic ETFs into a single fund – the Goldman Sachs Innovate Equity ETF (NYSEARCA: GINN) – on an equal-weighted basis in a single ticker solution.
FinTech: Glint Pay Raises £2.5 Million
Glint Pay, a currency fintech that encourages people to ‘buy, sell, spend and share’ their physical gold through its app, announced Friday its fundraise of an additional £2.5 million. Of this amount, the startup received £1.25 million as a private investment, with a matching amount contributed by the U.K. Government’s Future Fund.
Artificial Intelligence: An IPO, And An Acquisition
C3.ai, the software company launched by former Oracle executive Tom Siebel, filed papers for an IPO sized $100 million. The company intends to list on the New York Stock Exchange under the ticker symbol AI. Snap Inc (NYSE: SNAP) acquired Israeli voice assistant solutions startup Voca.ai for about $70 million.
Venture Capital: SpaceX Launches A Full Crew Into Orbit In Historic Milestone
SpaceX’s Crew Dragon spacecraft, “Resilience,” took off from Florida on Sunday on its Crew-1 mission to transport NASA astronauts Mike Hopkins, Victor Glover, Shannon Walker, and Japan Aerospace Exploration Agency astronaut Soichi Noguchi to the International Space Station.
Liquid Alternatives: The Wilshire Liquid Alternative Index Declines 0.51% in October
The Wilshire Liquid Alternative Index was down 0.51% in October. The index provides a representative baseline for the performance of the broader liquid alts space. This figure fell short of the -0.22% return from the HFRX Global Hedge Fund Index in the month of October.
Digital Assets: Belarusbank Trying To Tiptoe Around Sanctions With New Crypto Exchange Service
Belarus is joining the ranks of countries such as Venezuela, Iran, and Turkey that are facing economic pressures, from sanctions or otherwise, and taking recourse to cryptocurrencies. Belarus is burdened by EU sanctions against its officials and president Alexander Lukashenko. The country’s biggest bank, state-owned Belarusbank is offering to transact cryptocurrencies using Visa payment cards.
Artificial Intelligence: Vaiot, IBM’s Watson, And Cosmos Combine To Sell Car Insurance
. Enterprise AI developer VAIOT has integrated AI using IBM’s (NYSE: IBM) Watson Assistant to sell car insurance via an app and record the contracts on the Cosmos blockchain.