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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Venture Capital: Venture Capitalists Enjoy Solid Response To New Funds
Former executives-turned-venture capitalists are doing rather well, thank you. Lee Fixel, previously of Tiger Global Management, has just wrapped up a $1.4 billion fund, close on the heels of his first fund which closed less than four months ago. (FT) That fund was a monumental success too and nabbed $1.3 billion in June for Addition, Fixel’s VC vehicle.
Alternative Investments/ESG: A New UK Sustainable Equity UCITS ETF From HSBC
HSBC Global Asset Management launched earlier this month the HSBC UK Sustainable Equity UCITS ETF. Trading on the London Stock Exchange, the ETF is an extension of HSBC GAM’s range of sustainable ETFs. With a total expense ratio of just 0.12%, the ETF offers a highly cost-efficient solution to invest in UK equities with a sustainable slant.
FinTech: Stripe Buys Nigerian Payments Processor Paystack For $200M
Stripe, the fintech and payments processing giant last valued at $36 billion, has snapped up Paystack, the Nigeria-based international payments processor for a reported $200 million.
Artificial Intelligence: Singapore Researchers Develop Robots That Feel Pain And Heal Themselves Using AI
The NTU scientists innovated memtransistors, which are “brain-like” electronic devices that can process information and are capable of memory functions. They embedded these memtransistors, which function as artificial pain receptors and synapses, into AI-enabled sensor nodes in the robot. These nodes can process and respond to “pain” caused by impact from a physical force. In case of a minor injury, the robot can also repair its damage without human assistance.
Digital Assets: Crypto exchange OKEx Halts Withdrawals Following Investigation By Chinese Police
OKEx, one of the world’s largest cryptocurrency trading platforms, suspended withdrawals after the Chinese police launched an investigation that linked to the exchange.
Venture Capital: Whisper gets $50M For Its AI-Powered Hearing Aids
San Francisco-based Whisper, which launched in 2017, announced Thursday its Whisper Hearing System. The company simultaneously announced the successful close of its $ 35 million Series B which was led by Quiet Capital and received participation from Sequoia Capital, First Round Capital, and IVP.
Liquid Alternatives: The Wilshire Liquid Alternative Index Declines 0.73% in September
The Wilshire Liquid Alternative Index was down 0.73% in September. The index provides a representative baseline for the performance of the broader liquid alts space. This figure fell short of the -0.17% return from the HFRX Global Hedge Fund Index in the month of September.
Artificial Intelligence: FireCompass Launches AI-Powered Red Teaming Platform To Counter Hackers
FireCompass Technologies, a Bangalore headquartered technology company, launched today its new artificial intelligence-powered Continuous Automated Red Teaming (CART) platform named FireCompass.
FinTech: PayPal Challenges Klarna In U.K. BNPL Tussle
Fresh from its “Pay in 4” launch in the U.S. last month, payments behemoth PayPal (NASDAQ: PYPL) ratcheted up the ante in the BNPL wars with its launch Wednesday of a “Pay in 3” offer in the Buy-Now-Pay-Later (BNPL) category in the U.K.
Venture Capital: Driscoll’s, Of Strawberries Fame, And SoftBank Invest In Vertical Farmer Plenty
Plenty builds indoor vertical farms that create the optimum environment for food plants and reduce the vagaries from changing weather and climate conditions. The startup announced Wednesday its Series D raise of $140 million led by existing investor Softbank Vision Fund 1 and including new investor Driscoll’s, the world’s leader in fresh berries.
Digital Assets: Grayscale Reports A Blow-Out Third Quarter; Nabs $1.05B Inflows
Grayscale Investments, the largest asset manager of digital currencies in the world, said it gained $1.05 billion of inflows into its digital investment products during the third quarter of 2020. It was the biggest quarterly inflow in the firm’s history.
Liquid Alternatives: Investors May Cold-Shoulder Bonds In “Great Rebalancing” (HSBC)
HSBC Global Asset Management’s latest quarterly outlook report suggests that investors should brace for a prolonged phase of low output ahead amidst a continuing COVID situation, high unemployment, and elevated savings. HSBC Chief Global Strategist Joe Little says that low bond yields may be around for a while given current macroeconomic trends, and that core bonds as an asset class may be a spent force.
FinTech: Mining Giant Rio Tinto Ties With Chinsay To Digitize Commodity Contracts
Rio Tinto Limited (ASX: RIO) has picked Chinsay, a firm specializing in the automation of systems for the commodities and freight markets, for digitizing its commercial contracting process. Rio Tinto will use Chinsay’s ICP to leverage blockchain technology and digitize the process from issue of a contract through to its completion.
Digital Assets: “Bitcoin Is An Uncorrelated Asset,” Says Fidelity Report
A new report from Fidelity Digital Assets titled “Bitcoin Investment Thesis – Bitcoin’s Role As an Alternative Investment,” finds that the cryptocurrency has a very low correlation with mainstream assets such as stocks or gold.
Venture Capital: Razorpay Is India’s Latest Unicorn
Razorpay, which enables businesses in India to accept, process, and disburse payments with its product suite, has achieved the hallowed unicorn status. The fintech raised $100 million in a Series D funding round led by Singapore sovereign wealth fund GIC and Sequoia with participation from previous investors Ribbit Capital, Tiger Global, Y-Combinator, and Matrix Partners.
Artificial Intelligence: Agroknow’s AI-Powered Platform Flags Food Safety Risks
As a company, it may be crucial to monitor and minimize food safety risks in your supply chain. Agroknow, a specialist in the analysis of food and agricultural data over the past 12 years, has created FOODAKAI, a platform that helps the food industry safe from potential hazards in raw materials, ingredients and products.
Alternative Investments/ESG: Haitong MSCI China A Shares ESG ETF To Debut In Hong Kong On October 15
On October 15, the Haitong MSCI China A ESG ETF will open for trading on the Hong Kong Stock Exchange Main Board. It is the first ESG ETF offering exposure to Chinese A-shares to be listed on the Hong Kong bourse.
Artificial Intelligence: India’s Potential To Be A World Leader In AI
Intel India has joined hands with IIIT Hyderabad, Public Health Foundation of India, and the Telangana government for the establishment of an AI Research Centre. The establishment will leverage artificial intelligence to address challenges facing India in healthcare, smart mobility, and other sectors.
Digital Assets: G20, IMF, WorldBank, Formulating Global Stablecoin Rules
The Group of Twenty (G20) organization of the finance heads from the EU and 19 other countries announced today that it is working alongside the International Monetary Fund (IMF), the World Bank, and the Bank for International Settlements (BIS) to standardize and formalize the use of digital currencies such as stablecoins in banking systems.
Venture Capital: SoftBank’s Vision Fund Planning A SPAC
SoftBank Vision Fund chief Rajeev Misra said during the 2020 Milken Institute Global Conference on Monday that the Fund is planning a special purpose acquisition company (SPAC). SPACs are the latest craze in the stock market, and 80 of them have raised more than $32 billion in the third quarter of 2020. That amount is up 4X from the second quarter. According to CNBC, the Vision Fund’s plans around its SPAC are likely to firm up in the next two weeks.
FinTech: Revolut Sets Sights On U.S. Banking License
Revolut, the European fintech giant and digital bank, is likely to apply for a U.S. banking license at the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions in the coming weeks
Alternative Investments/ESG: Invesco Launches ESG ETF For The Canadian TSX Index
Invesco’s new ETF launch will trade on the Toronto Stock Exchange and allow investors to invest in Canadian large-cap equities that have been screened for ethical concerns. The Invesco S&P/TSX Composite ESG Index ETF is the first Canadian-listed ETF to track the S&P/TSX Composite ESG Index.
Artificial Intelligence: InoBat Auto Launches “Intelligent,” AI-Built EV Batteries
European electric vehicle (EV) battery producer, InoBat Auto announced Friday the launch of the world’s first intelligent electric vehicle battery. The company said the battery was developed through a combination of artificial intelligence (AI) and High Throughput (HTP) technologies within just a year of research and development.
Digital Assets: Tyler Winklevoss Predicts Investment “Tsunami” In Bitcoin
Tyler Winklevoss, the famous bitcoin billionaire and co-founder of Gemini, said in a tweet that there will a tsunami of capital flows into the bitcoin cryptocurrency. He was referring to the recent multi-million dollar investments in bitcoin by MicroStrategy (NASDAQ: MSTR) and Square (NYSE: SQ).