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: (Coronavirus) New Service Matches Cash-Hungry Startups With Still-in-the-Game Investors
Laurent Grill has over a decade of experience in the Los Angeles venture finance industry. He is an investor at Luma Launch, the corporate venture arm of the film studio Luma Pictures. Realizing the current uncertainties startups are facing with their funding, Grill decided to put his not inconsiderable network to use.
Digital Assets: Asia-Pacific, the Most High Volume of Crypto Markets, Gets Cutting-Edge Exchange
The OSL Exchange, from the BCG Group, (HKG: 0863) is a cutting-edge exchange that deals in the world’s top digital assets. These are tradable with US dollars and certain stablecoins. Headquartered in Hong Kong, the exchange is strategically positioned to take advantage of the Asia Pacific region. The region accounts for the lion’s share of trading volume in cryptocurrencies. The Exchange is designed for professional traders.
Artificial Intelligence: Each of Us Can Help Predict The Spread of the Coronavirus
Roni Rosenfeld is a professor of computer science at Carnegie Mellon University. He leads the University’s machine learning department and Delphi research group. The latter has won kudos for its accurate predictions for the spread of the flu. Rosenfeld, at the behest of the Centers for Disease Control and Prevention (CDC), will now bring his phenomenal AI skills to mapping and predicting the spread of the coronavirus. In an interview with Vox, Rosenberg talks to Sigal Samuel about his new responsibility, the use of machine learning and inputs from common people to map the likely advance of the deadly coronavirus.
FinTech: Square Inc Cleared by the FDIC and Utah to Set Up Business Bank
The FDIC conditionally approved the application by Square Financial Services, a subsidiary of Square Inc., for deposit insurance.
The Utah Department of Financial Institutions also granted charter approval to Square Financial Services.
DailyAlts Playbook: Insider Trading in Congress, Stimulus Packages, and the Threat of a Credit Crisis
We start in Washington… but not on the stimulus plan. We’ll get into those details in a moment because the United States people have a new public enemy. This is perhaps one of the most frustrating stories about the recent downturn, and one of the reasons why the STOCK Act had to be passed several years ago.
Private Equity: KKR is Buying Recycling Firm Viridor for £4.2 Billion in Cash
In the largest deal since the coronavirus began crashing markets and economies, KKR (NYSE: KKR) is buying UK recycling company Viridor.
It will acquire the firm from Pennon Group for £4.2 billion in cash. Net proceeds to Pennon Group will be 3.7 billion pounds, with additional consideration of 200 million pounds contingent on future events. The Pennon Board of Directors said it intends to use the net cash proceeds to reduce Pennon’s company borrowings and make a return to shareholders.
Venture Capital: Fox Buys Streaming Startup Tubi for $440M; Sells Roku Stake
Fox Corporation (NASDAQ: FOXA) snapped up direct-to-consumer streaming startup Tubi for $440 million in cash. Simultaneously, Fox disposed of its 5% stake in streaming platform Roku, using the cash for the new acquisition. Tubi, a start-up based in San Francisco, is an ad supported streaming service providing content from over 250 partners, including Paramount and Lions Gate.
Digital Assets: Bitcoin Miners Could Pull Supply As Mining Becomes Unprofitable
The global sell-off has not spared bitcoin, and the cryptocurrency is licking its wounds after a gut-wrenching 53% decline from its February high to its recent low of $4,825. Prices have rallied somewhat, but the damage has been done – particularly to the financial health of bitcoin miners. At these prices, bitcoin mining has become unremunerative for many of them.
The DailyAlts Playbook: Corona Cases Surge, Warnings from 2012, Universa’s Massive Win, and Party Bros
Today, the DailyAlts Playbook talks the Surge in Corona Cases, Warnings from 2012, Universa’s Massive Win, and Party Bros.
Real Estate: Cohen and Steers Issues Report on Coronavirus
Cohen and Steers issued a report this week detailing the firm’s outlook for real assets in light of the coronavirus and its impact on the economy.
The virus is likely to cause significant disruptions to travel, trade, manufacturing, and confidence according to the report with a potentially dramatic impact on asset pricing.
Digital Assets: Russia’s Continuing Ambivalence on Cryptos
Russia’s regulatory machinery seems unable to make up its mind on cryptocurrencies.
In a somewhat dramatic U-turn, Russia’s central bank, the Bank of Russia, may ban outright dealings in cryptocurrencies.
Alexey Guznov, head of the bank’s legal department, said that the country’s draft bill “On Digital Financial Assets,” which is still hanging fire, may be amended to impose the aforesaid ban.
Alternative Investments: STOR Capital Letter to Shareholders on Coronavirus
STOR Capital CEO Christopher H. Volk sent a letter to shareholders this week to address concerns over the potential impact of the coronavirus on the REITs’ property portfolio.
STOR has investments in more than 2,500 property locations and 478 tenants. As investors bailed on REITs the persistent selling pressure forced some second wave selling from REIT exchange-traded funds, STOR has seen its share price decline by more than 50% in the past month.
Venture Capital: Keros Therapeutics Files With the SEC for an $86M IPO
The stock markets have been hammered by panicked investors fearing the worst from the coronavirus epidemic. Roiled by fear, the CBOE VIX index is currently ruling at a high 75.91, after closing Monday at an all-time high of 82.69. Its previous closing high was 80.86 in 2008 at the time of the global financial crisis. The index is also known as the “fear gauge.” Surely, this is not the best of times to float an IPO, as Keros Therapeutics proposes to do.
FinTech: Banking Challenger Penta Raises €18.5M
Penta is a Berlin-based business banking startup bank focusing on small and medium-sized enterprises. Also operating in Italy, Penta was acquired in 2019 by Finleap, the co-founder of solarisBank. In the same year, Penta acquired Beesy, an Italian micro-business banking startup, and started operating an office in Milan. It raised €18.5 million in a funding round.
The DailyAlts Playbook: Buyback Blowback, Hyperbolic Growth, and the Movement to Stop Short-Selling (for now).
The Dow Jones projected an 821-point decline as the futures market hit limit down yet again Wednesday morning. The volatile opening comes a day after the Trump administration announced plans to inject roughly $1 trillion into the U.S. economy to help consumers manage their finances. The Dow is now off 28% from its record high. Should another 7% drop in the S&P 500 come this morning, it would trigger the first level of three circuit breakers.
Artificial Intelligence: AI-Controlled Robot Tanks Soon
Robot tanks will soon enter the battlefield. Using AI, their operators will command the robots to perform surveillance, acquire targets, even fire weapons.
The Army Research Laboratory (ARL) is working on a project to control unmanned robotic vehicles using an AI-powered interface. These “forward operating” vehicles would perform a variety of functions in response to commands from a manned vehicle such as a tank.
Hedge Funds: Ricky Sandler is Buying Stocks Despite Coronavirus
Hedge fund manager Ricky Sandler said Monday that he is buying stocks while markets continue their historic selloff.
In an interview with CNBC, the head of Eminence Capital said that he believes that the market reaction has been too extreme.
Private Equity: Big Changes Are Coming to the Industry, Says Tim Melvin
DailyAlts market strategy Tim Melvin says that the game is changing for private equity.
“We will see a pullback in deal multiples, and leverage levels are going to decline,” he said on Tuesday.
Venture Capital: (Coronavirus) How Gig Economy Companies Do NOT Flatten the Curve
According to Edward Ongweso Jr and Jason Koebler, writing in Vice/Motherboard, gig economy companies are a public health risk. The business models of companies such as Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) depend upon workers characterized as independent contractors (not employees). This practice flies under the regulatory radar, and as a result, these hapless workers are generally uninsured, or at best underinsured. They work long hours, regardless of the risk from the coronavirus pandemic – to themselves, or their ride-hailers.
Liquid Alternatives: Despite Meltdown, YTD Net Inflows to Global ETFs/ETPs Are Higher Than Last Year
Year to date net inflows into global ETFs/ETPs as at end February’20 are USD 98.68 billion, versus USD 61.57 billion as of end February’19.
ETFs and ETPs listed globally gathered US$31.52 billion in net inflows in February, according to ETFGI’s February 2020 Global ETFs and ETPs industry landscape insights report.
Artificial Intelligence: The White House Spearheads Global Effort to Analyze Coronavirus Research Database for Clues
The White House, the crème-de-la-crème of tech companies, universities and health institutes are in a race against time to stop coronavirus in its tracks.
About 29,000 articles and research papers on the deadly coronavirus have been amassed into a research database titled COVID-19 Open Research Dataset (CORD-19). It is the most comprehensive coronavirus-related collection of literature compiled till date. Best of all, it is machine-readable, rendering it ideal for analysis by artificial intelligence (AI).
The DailyAlts Playbook: March 17, 2020
DAILYALTS PLAYBOOK March 17, 2020 Today, the DailyAlts Playbook talks about Medical Properties Trust, Roof Monsters, and What’s Happening in Washington. PRIME OVERVIEW Good morning: Apologies that Monday’s Playbook didn’t make it out. MailChimp had some issues. We have been following our models and sitting on cash since late February, so we’re riding this out….
Digital Assets: Beware, Scam Actors Using Coronavirus to Bilk Victims
The UK’s Financial Conduct Authority issued a warning last Wednesday against scams related to coronavirus (Covid-19). The advice was a part of a consumer support page that also covered access to cash, insurance, and the fair treatment of customers. “Watch out for scams related to coronavirus (Covid-19),” said the FCA. “These scams take many forms and could be about insurance policies, pensions transfers, or high-return investment opportunities, including investments in crypto assets.”
Real Estate: Are Home Sellers Complacent? Palm Off Your Property to an iBuyer NOW
Wall Street is wasting no time discounting the economic effect from the deadly coronavirus, as seen from the very sharp cut in stock prices. It appears, however, that the real estate market is still ensconced in a cocoon of complacency, judging from the results of a recent survey by the National Association of Realtors (NAR). Home sellers may do well to dispose of their property to an iBuyer.