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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Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes

December 7, 2023

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: As AI Booms, Softbank Plans A Blockbuster IPO From Arm Ltd

August 16, 2023

The year’s most significant initial public offering (IPO) centers around Arm Ltd., a lesser-known company despite its integral role in the tech world. Arm, headquartered in Cambridge, UK, specializes in designing key components for the chips powering nearly all smartphones globally. It was acquired for $32 billion by SoftBank (TYO: 9984) in 2016 and delisted from the London Stock Exchange.

Alternative Investments/Digital: A New YieldMax ETF Uses Calls On CoinBase To Generate Income

August 16, 2023

YieldMax™ has introduced a new ETF on August 15, 2023, titled YieldMax™ COIN Option Income Strategy ETF (NYSEARCA: CONY). It employs a synthetic covered call approach to generate monthly income from Coinbase Global, Inc. (NASDAQ: COIN).

Venture Capital: Advanced Ionics Raises $12.5M In bp-Led Series A Round

August 16, 2023

Advanced Ionics, a company pioneering innovative hydrogen electrolyzers for green hydrogen production, has successfully concluded a $12.5 million Series A financing round, with prominent support from bp ventures, Clean Energy Ventures, Mitsubishi Heavy Industries (TYO: 7011), and GVP Climate.

Digital Assets: A Sustainability-Focused Spot Bitcoin ETF Launches In Europe

August 15, 2023

London-based Jacobi Asset Management has launched today Europe’s first Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, ahead of the U.S. The Jacobi FT Wilshire Bitcoin ETF, trading under the ticker BCOIN, charges a 1.5% annual management fee and is listed on Euronext Amsterdam. Fidelity Digital Assets serves as custodian, while Flow Traders acts as market maker, with authorized participants including Jane Street and DRW.

FinTech: d.light Lands $30M For Low-Cost Solar Devices In Tanzania

August 15, 2023

d.light, a global provider of affordable household products and financial solutions for low-income households, has successfully secured a $30 million securitization facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group), with the potential to acquire up to $125 million of receivable assets.

Venture Capital: EDAC Labs Raises $3M Seed For Direct Air Capture Of CO2

August 15, 2023

EDAC Labs, an innovator in electrochemistry, has secured $3 million in seed funding to expand its distinctive carbon removal technology. The funding round was spearheaded by the Grantham Foundation for the Protection of the Environment, renowned for investing in early-stage climate-related innovations, and supported by notable angel investors.

Artificial Intelligence: AI-Powered Trousers Help Stroke Victim To Walk Again

August 15, 2023

Julie Lloyd, a 65-year-old stroke survivor, is making strides towards regaining her ability to walk independently, all thanks to a cutting-edge AI-powered garment. She is a participant in the pioneering trial of the “smart garment” known as “NeuroSkin,” which employs AI-controlled electrodes to stimulate her paralyzed leg.

Digital Assets: Bernstein Paints Bullish Picture Of Crypto If SEC Flags Off A Spot Bitcoin ETF

August 14, 2023

A recent report from brokerage firm Bernstein highlights the potential significance of approving Bitcoin Spot Exchange-Traded Funds (ETFs) in driving a new cycle of growth in the cryptocurrency market. These ETFs not only create demand in the spot market but also trigger a positive market signal, attracting retail and institutional flows seeking legitimacy.

Venture Capital: Elon Musk’s Neuralink Raises $280M Round Led By Founders Fund

August 14, 2023

Elon Musk’s biotech startup Neuralink has secured $280 million in a Series D fundraising round, with Founders Fund leading the investment. Founders Fund is a San Francisco-based VC firm established by Peter Thiel, who previously was one of the founders of PayPal (NASDAQ: PYPL).

FinTech: Mastercard Buys Stake In MTN’s Fintech Unit For Undisclosed Amount

August 14, 2023

Mastercard (NYSE: MA) is set to acquire a minority stake in the financial technology division of MTN (JSE: MTN), South Africa’s largest mobile company, which focuses on payments and remittances. The valuation of this division is over $5 billion. The investment is expected to be finalized soon and is seen as a significant step in MTN’s fintech services expansion.

Artificial Intelligence: Korea’s SK Telecom Joins Hands With Anthropic On LLM, Invests $100M

August 14, 2023

South Korean telecommunications company SK Telecom (KRX: 017670) (SKT) has invested an additional $100 million in AI safety and research firm Anthropic, building on a previous investment by SKT’s venture capital arm. The companies have formed a partnership to develop a multilingual large language model (LLM) tailored for the telecommunications industry.

Digital Assets: Mike Novogratz Expects SEC To Greenlight Spot Bitcoin ETF In Six Months

August 11, 2023

Galaxy Digital CEO Mike Novogratz is hopeful that the U.S. SEC could approve a spot Bitcoin exchange-traded fund (ETF) within 4 to 6 months. He based this premise on his contacts at major asset management firms Blackrock (NYSE: BLK) and Invesco (NYSE: IVZ), both of which have filed for Bitcoin ETFs with the SEC.

FinTech: Africa-Focused, Mobility Financier Moove Raises $78M

August 11, 2023

African-founded mobility fintech, Moove, has secured a substantial investment to further its mission of revolutionizing financial services for mobility gig workers. The company has raised a total of $76 million in new funding, comprising $28 million in equity from both existing and new investors, $10 million in venture debt from funds managed by BlackRock, and an undisclosed $38 million raised over the past year.

Venture Capital: Serve Robotics, The High-Growth Maker Of Delivery Robots, Scores $30M Fund Raise

August 11, 2023

Serve Robotics Inc., the well-known autonomous sidewalk delivery company, has revealed a significant step in its growth strategy, announcing a successful financing round that secured $30 million in funds. This funding brings the total capital raised by Serve to more than $56 million since its inception in 2021.

Artificial Intelligence: Chinese Internet Companies Place Billions Of Dollars’ Worth Of Orders For Nvidia AI Chips

August 11, 2023

China’s internet giants, including Baidu (HKG: 9888), ByteDance, Tencent (HKG: 0700), and Alibaba (HKG: 9988), are aggressively purchasing Nvidia (NASDAQ: NVDA) chips valued at $5 billion to build generative artificial intelligence systems. This rush is fueled by concerns that the US might impose new export controls.

Artificial Intelligence: An AI-Powered Microscope Detects Malaria Parasites With 88% Accuracy

August 10, 2023

A new high-tech microscope utilizing AI technology has been developed to detect malaria in returning travelers. Malaria, caused by Plasmodium parasites, results in millions of illnesses and hundreds of thousands of deaths annually.

Venture Capital: Nervous Of Misuse By Its Military, The Biden Administration Restricts Investment In Certain Chinese Tech Sectors

August 10, 2023

The Biden administration has issued an executive order restricting US investors from funding Chinese companies engaged in certain technology development that could have military applications. The order aims to prevent these technologies from being utilized by China’s military.

FinTech: SumUp Amasses $100M Firepower To Lend To UK Merchants

August 10, 2023

SumUp has introduced a novel cash advance solution for merchants to address the escalating costs of running their businesses. This offering, known as SumUp Cash Advance, involves the repayment of advances through transactions carried out on SumUp’s card readers. To facilitate the launch and implementation of this initiative, SumUp has secured a credit facility of $100 million from Victory Park Capital (VPC), an alternative investment firm.

Alternative Investments/ESG: USCF Advisers Launch Commodity Facing ETF With Sustainable Focus

August 10, 2023

The US Commodity Fund (USCF) has introduced the USCF Sustainable Commodity Strategy Fund (ZSC), an actively managed exchange-traded fund (ETF). This fund aims to achieve overall returns by providing broad exposure to commodities in three sustainability-focused areas: agriculture, renewable energy, and electrification.

Digital Assets: Billionaire PE Investor David Rubenstein Speaks Well Of Bitcoin

August 9, 2023

Billionaire investor David Rubenstein, co-founder of The Carlyle Group, said he believed Bitcoin was here to stay due to its significant and enduring appeal.

FinTech: Sweater Launches Platform To Boost Inclusivity In Venture Investing

August 9, 2023

Sweater, a pioneering fintech company, has unveiled an innovative venture, the Public VC Funds platform, which marks a breakthrough in the traditional venture capital landscape. This groundbreaking offering enables qualified partners to establish their own venture capital funds, opening the doors for participation by their communities and the general public, regardless of accreditation status.

Venture Capital: OMERS Ventures Shutters London Office Amidst Bleak European Tech Venture Scenario

August 9, 2023

The Ontario Municipal Employees Retirement System (OMERS) is discontinuing its venture capital (VC) efforts in Europe after four years and refocusing on North America due to better opportunities in the region’s technology sector. The pension fund is shuttering its London office and letting go of certain team members, among them one of its two managing partners named Harry Briggs, along with an associate. The remaining managing partner, Henry Gladwyn, along with another associate, will be moving to New York to oversee OMERS Ventures’ current portfolio of 18 European investments.

Artificial Intelligence: Disney Exploring Company-Wide Deployment Of AI

August 9, 2023

Disney (NYSE: DIS) has established a task force to explore the applications of artificial intelligence (AI) across its entertainment conglomerate, including Walt Disney Studios, theme parks, television, and advertising. This move comes amidst concerns within the Hollywood industry about the potential exploitation of AI, with writers and actors recently going on strike over these issues.

Venture Capital: Meatable Raises $35M Series B For Its Cultivated Pork Products

August 8, 2023

Dutch food tech company Meatable has secured $35 million in new funding, bringing its total funding to $95 million. The investment was led by Agronomics and joined by Dutch impact fund Invest-NL along with existing investors, such as BlueYard, Bridford, MilkyWay, DSM Venturing and Taavet Hinrikus.