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.
Top Story
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.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on News
Alternative Investments/Digital: “Front-Running Opportunity Of A Lifetime”
Former Goldman Sachs (NYSE: GS) employee and hedge fund manager Raoul Pal cites recent developments as a regulatory thaw that may augur the approval of a bitcoin ETF.
FinTech: Indian FinTech Paytm Takes On Google, Alleges “Arm-Twisting”
Paytm, a major Indian payment app and fintech, said Friday that its app had been pulled from the Google (NASDAQ: GOOGL) Play Store because its recently launched “Paytm Cricket League” was allegedly violating policies regarding gambling. On Sunday, Paytm hit back with a strongly worded, and a detailed, blog post on the fracas. It alleged that Google arm-twisted the company to remove a UPI cashback scheme.
Digital Assets: MicroStrategy’s Labor of Love On Bitcoin
Michael Saylor, MicroStrategy’s (NASDAQ: MSTR) CEO, made waves with his bold decision to invest $425 million of the company’s cash reserves in bitcoin. He invested the money in two tranches of $250 million and $175 million, announced on August 11 and September 15, respectively. On Friday, in characteristic style, he tweeted what it took (apart from the money) to buy $175 million of BTC.
Venture Capital: Mobile-Based Banker Chime Raises $485 Million At $14.5B Valuation
According to an exclusive report Friday by CNBC, Chime, the branchless bank that delivers its services through mobile phones, has achieved a valuation of $ 14.5 billion in its latest funding round. Chime raised a monster $ 485 million in its Series F round, and its valuation has now leapfrogged past the $ 11.2 billion sticker garnered by fee-free trading app Robinhood.
Artificial Intelligence: Cameras Powered By AI Help Save Elephants
RESOLVE is a Washington, DC-based NGO that seeks sustainable solutions to critical environmental, social, and health, challenges. It has partnered with AI software company CVEDIA to develop WildEyes AI, a camera-based solution to detect elephants and alert wildlife managers and communities. These warnings would prevent conflict situations between elephants and human settlements before they occur.
Alternative Investments/ESG: The COVID-19 Pandemic Spurred ESG Investing To New Records
Sustainalytics Founder Michael Jantzi says people now want to do sustainable investing. And “they’re putting their money where their mouths are,” said Jantzi at the virtual Morningstar Investment Conference on Wednesday. The COVID-19 pandemic boosted an already strong movement in favor of sustainable investing.
FinTech: Buy-Now-Pay-Later Lender Affirm Raises $500M
Affirm announced Thursday its raise of $500 million in a G Round led by GIC and Durable Capital Partners LP. Other investors included Lightspeed Venture Partners, Wellington Management Company, Baillie Gifford, Spark Capital, Founders Fund, and Fidelity Management & Research Company LLC.
Venture Capital: Tonal, The Smart Home Gym Startup, Taps $110M
Tonal, a startup that makes compact, AI-powered, wall-mounted home fitness equipment, announced Thursday its raise of $110 million. Returning investors L Catterton, Sapphire Sport, Shasta Ventures, Mayfield, Evolution Media, and THVC, participated in the round along with new investors Delta-v Capital, the Amazon Alexa Fund, and Mousse Partners.
Artificial Intelligence: An AI-Controlled House Built By A Computer Scientist
It’s a striking, futuristic residence that commands panoramic views, combines home with a place to work, and is controlled by artificial intelligence having its own data center. Based outside Prague, Chechoslavika, the 5100-square-foot house is done up inside in stark white and has concrete-grey and glass exteriors. Named Villa Sophia, it’s home to a family of four and is purposely low-slung so as not to block the city view for the neighbors.
Digital Assets: Kraken Digital Exchange Wins U.S. Bank Charter
The State of Wyoming greenlighted Kraken’s application to form the world’s first Special Purpose Depository Institution (SPDI).
Kraken Financial, the new entity, can operate as a fully independent bank and is the first digital asset company in the U.S. to receive a bank charter recognized under both federal and state laws. As an SPDI, it can offer the full range of deposit-taking, custody, and fiduciary services for digital assets in a fully regulated manner.
Alternative Investments/Real Estate: Homebuilder ETFs In A Bull Grip
The NAHB/Wells Fargo National and Regional Housing Market Index (HMI) for single-family homes for the month of September rose from 78 in August to 83 in September. The reading indicates that homebuilder confidence and sentiment is at a record high – the highest in the survey’s 35-year record. It is a reflection of the strong demand for housing, particularly in the suburbs or exurbs.
Digital Assets: State Regulators Roll Out Multi-State Compliance For Crypto and FinTech Firms
Nationwide payments firms now have to undergo a single comprehensive exam to effectively satisfy all states’ regulatory compliance requirements. The Conference of State Bank Supervisors (CSBS) announced Tuesday its “MSB Networked Supervision” initiative in this regard, effective 2021.
Artificial Intelligence: Intelligent Sugarcane Herbicide Sprayer Helps Save Great Barrier Reef
James Cook University College of Science and Engineering senior lecturer, Mostafa Rahimi Azghadi, is overseeing a project to develop a new robotic sprayer for weeds in canefields. The sprayer will reduce the use of herbicides by up to 80% because it uses a targeted spraying method instead of a wider, “at-will” distribution. Herbicides in the water run off from canefields alongside river catchments connected to the Great Barrier Reef are a hazard.
FinTech: Jetty’s New Offering Frees Up Renters’ Deposits
Jetty, which describes itself as a modern security deposit alternative, has expanded its services for renters. Its newly launched Unlock Deposit offering frees up renters’ cash deposits in exchange for a small one time or monthly fee.
Venture Capital: Indoor Fitness App Maker Zwift Snags $450M
Zwift, which blends serious indoor workouts with the fun of virtual events and video games on its online “connected-fitness” platform for runners and cyclists, raised a humongous $450 million.
Artificial Intelligence: Microsoft and Nuance Team Up For AI-Powered Telemedicine Consults
Nuance Communications (NASDAQ: NUAN) and Microsoft (NASDAQ: MSFT) announced Tuesday the integration of an artificial intelligence-based clinical solution into Microsoft Teams to capture all details of clinical telemedicine via accurate documentation.
FinTech: Amazon Shoppers In The UAE Can Now “BNPM,” Courtesy Standard Chartered Bank
Buy Now Pay Monthly. According to a report in The Fintech Times, Standard Chartered Bank and Amazon’s United Arab Emirates (UAE) website, Amazon.ae, are now offering installment payment plans to shoppers. Credit cardholders of Standard Chartered Bank can now convert their Amazon purchases into payment through installments up to 12 months.
Digital Assets: Vertalo To Launch STOs For REI Capital, A New Commercial Real Estate Fund
Vertalo is a digital transfer agent that specializes in the tokenization of assets. Its real estate division, Vertalo Real Estate (VRE) launched in June 2020. VRE focuses on the digitization and tokenization of real estate assets. REI Capital Growth, an innovative commercial real estate (CRE) fund, has licensed Vertalo’s platform for the launch of two security token offerings (STOs) utilizing a Reg S exemption from registration.
Venture Capital: Uruguay-Based Payments Processor dLocal Gets Its Horn
General Atlantic led a $200 million funding round for Uruguay-based cross-border payment processor dLocal, catapulting the latter into the hallowed, three-comma-club. dLocal became Latin America’s latest unicorn and Uruguay’s first. New investor Addition also participated in the fundraising.
Artificial Intelligence: Brightseed, Which Uses AI To Explore Phytonutrients, Taps $27M
Brightseed, a biosciences and AI company based in the U.S., achieved fame with its discovery of a phytonutrient – a substance that plants produce to support their growth and defend against pathogens or predators. However, inside the human body, these compounds display anti-inflammatory, cardioprotective and neuroprotective abilities.
Artificial Intelligence: Robotic Dogs Conduct Advance Recces For The US Air Force
The U.S. Air Force recently tested robotic dogs to conduct a reconnaissance (recce) as a part of its thrust to boost the use of artificial intelligence (AI). The Ghost Robotics Vision 60 robots, four-legged, headless dog-like mechanical robots, emerged from inside an Air Force LC-130 Hercules transport. The aircraft had flown from Buckley Air Force Base in Colorado to Nellis, carrying with it airmen from the 621st Contingency Response Wing.
Liquid Alternatives: The Wilshire Liquid Index Returns 1.3% in August
The Wilshire Liquid Alternative Index returned 1.3% in August. The index provides a representative baseline for the performance of the broader liquid alts space. This figure fell short of the 1.54% return from the HFRX Global Hedge Fund Index in August.
Venture Capital: Airtable Raises $185M At A $2.5B Valuation
Airtable, whose products deliver the power of a database with the familiarity of a spreadsheet, has raised $185 million. The funding brings the startup’s total fundraising to over $350 million. Thrive Capital led the current Series D round which also saw participation by existing investors including Benchmark and Coatue Management.
FinTech: Klarna Gains More BNPL Muscle With $650M Mega Round
A team of marquee investors, led by Silver Lake, invested $650 million in Klarna, the payments and shopping service known for its “buy-now-pay-later” (BNPL) offering. Klarna now ranks as the biggest fintech unicorn in Europe, and fourth globally, after the round valued it at $10.65 billion.