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: Silo Technologies, An ERP System For Produce, Lands $132M
Silo Technologies, a leading provider of technology solutions for the food supply chain, has announced $132 million in new capital. The $32 million Series C funding round was led by Koch Disruptive Technologies, a subsidiary of Koch Industries known for investing in disruptive technologies. Existing investors Andreessen Horowitz, Haystack Capital, Tribe Capital, Collate Capital, and Moore Capital also participated in the round.
Artificial Intelligence: Tech Titans Launch Fresh Forays Into AI
Elon Musk recently discussed his plans for building a safer AI during a Twitter Spaces event. Instead of programming morality directly into the AI, his new startup company xAI aims to create a highly curious AI, said to be a challenger to ChatGPT.
FinTech: Google Calendar Integrates With Stripe To Enable Paid Appointment Scheduling
Google (NASDAQ: GOOGL) announced in a blog post that it was integrating its Google Calendar with Stripe to enable the scheduling of paid appointments. Users may either connect their existing Stripe account to Google Calendar, or open a new Stripe account through Calendar.
Venture Capital: Bedrock, Which Gathers Seafloor Data For Wind Energy Systems, Raises $25.5M
Bedrock, a seafloor data acquisition and distribution platform, has raised $25.5 million in a Series A funding round. The company aims to revolutionize seafloor exploration and accelerate offshore wind energy development. The funds will be used to bring its unique data offering to the offshore wind market and expand their unmanned autonomous underwater vehicle (AUV) acquisition system.
Artificial Intelligence: KPMG And Microsoft Ink $12B Multi-Year Cloud And AI Alliance
KPMG and Microsoft (NASDAQ: MSFT) have announced a partnership to invest over $2 billion in the development of cloud and generative AI tools over the next five years. This collaboration is significant as rival consulting giants like PwC and Accenture have also made substantial commitments to AI-powered advancements.
Alternative Investments: Simplify Launches ETF Driven By Select Quant Strategies Used By Institutions
Simplify Asset Management has introduced the Simplify Multi-QIS Alternative ETF (NYSEARCA: QIS), an innovative investment product that focuses on multiple quantitative strategies across various asset classes.
Artificial Intelligence: Anthropic Launches Its All New AI Chatbot Dubbed Claude 2
Anthropic, an AI company valued at $4.1 billion, has launched its new AI chatbot called Claude 2 and offered it for public use. Claude 2, hitherto under testing by enterprises including Slack, Notion, and Quora, will now be available to the 350,000 consumers on a waitlist.
FinTech: Paris-based Startup finres Harvests US$4.5M To Enable Better Agricultural Investments
Paris-based fintech startup finres has secured €4.1 million (US$4.5 million) in funding to enhance agricultural investments. The funds will support the launch of their investor platform, R&D activities, and expansion across Africa, the Americas, Asia, and Europe.
Venture Capital: Investors Including CBA Pour $220M Into Australian Climate Investment Firm Wollemi Capital
Wollemi Capital, a climate specialist investment firm, has successfully raised $220 million in one of Australia’s largest Series A capital rounds of 2023. The Commonwealth Bank of Australia (ASX: CBA) provided an equity investment to support the fundraising.
Digital Assets: Standard Chartered Projects $120K Price For Bitcoin By End-2024
Standard Chartered has forecasted that the value of the leading cryptocurrency, bitcoin, may reach $50,000 within this year and rise to $120,000 by the conclusion of 2024. The bank suggests that the recent surge in bitcoin’s price could incentivize miners to hold onto more of their supply. Another reason for the highly bullish projection is the banking sector crisis.
FinTech: Criminal Groups Exploit System Flaw To Defraud Revolut US Of $20M
A flaw in Revolut’s payment system in the US allowed criminals to steal over $20 million of the company’s funds last year, according to undisclosed sources. The incident, which has not been publicly disclosed, adds to the challenges faced by the fintech firm, including senior departures and a qualified audit.
Venture Capital: Indonesian Smart Aquaculture Startup eFishery Nets $200M
Indonesian startup eFishery has secured $200 million in a Series D funding round, propelling its valuation to over $1 billion and earning it unicorn status. Led by 42XFund, the funding round included participation from investors such as Kumpulan Wang Persaraan, responsAbility, and 500 Global.
Artificial Intelligence: OpenAI Faces Class Action Suit From Sarah Silverman And Authors For Copyright Violation
Comedian Sarah Silverman, and novelists Richard Kadrey and Christopher Golden are suing ChatGPT creator OpenAI and Meta (NASDAQ: META), claiming the two AI entities used copyrighted content without permission for AI training purposes.
Fintech: Clair Scores $175 Million In Funding To Launch The First Free On-Demand Pay Solution
Fintech company Clair has secured $175 million in funding to launch a free, on-demand pay solution backed by an FDIC-insured bank. The program, called Pathward, allows front-line workers to take wage advances and provides access to Clair Spending and Savings Accounts.
Venture Capital: PharmEasy May Become India’s First Unicorn To Raise A Down Round
Indian online pharmacy startup PharmEasy is seeking new funding of about $300 million, but at a significant valuation cut of 90%, according to anonymous sources cited by TechCrunch. If successful, this funding round would result in PharmEasy’s valuation dropping to half of the capital it has raised so far.
Artificial Intelligence: Visitors Queue Up For Astro Readings From A Co-Star Machine In NoLIta
The Co-Star machine, developed by a technology company called Co-Star, is attracting attention at the Iconic Magazines store in NoLIta. Resembling a large washing machine with celestial labels and blinking lights, the device allows users to ask questions and receive answers based on astrological calculations.
Alternative Investments/ESG: UBS Debuts ‘Dividend Aristocrats ESG Elite’ ETF Suite
UBS Asset Management has introduced a new suite of income-focused ETFs designed for investors interested in sustainable dividends and ESG (Environmental, Social, and Governance) criteria. The suite, called ‘Dividend Aristocrats ESG Elite,’ consists of two funds that provide exposure to global developed and US equity markets.
Venture Capital: Japanese Robotics Startup Telexistence Nabs $170M
Telexistence, a robotics company based in Tokyo, has successfully raised USD 170 million in a Series B funding round. The funding came from both existing investors, such as Monoful Venture Partners, KDDI Open Innovation Fund, and Airbus Ventures, as well as new investors including SoftBank Group Corp., Foxconn Co-GP Fund, and Globis Capital Partners.
Fintech: FIS Inks Deal To Sell Worldpay To GTCR At A Valuation Of $18.5 Billion
Financial services technology leader FIS has pushed ahead with its separation plan to create two distinct global companies for increased strategic flexibility and a reduction in debt. The company has entered into a definitive agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR. The transaction values Worldpay at $18.5 billion, including $1 billion contingent on certain returns achieved by GTCR.
Artificial Intelligence: The 2023 World Artificial Intelligence Conference (WAIC) In Shanghai Draws Record Participation
The 2023 World Artificial Intelligence Conference (WAIC) in Shanghai has attracted a record number of companies, reflecting the heightened activity in China’s AI industry. With over 400 participating companies, this year’s event marks a significant increase compared to previous years. The conference, themed “Intelligent Connectivity, Generating Future,” aims to bring together more than 1,400 distinguished guests, including scientists, entrepreneurs, government officials, and international delegates.
Digital Assets: BlackRock’s Fink Expects The Bitcoin ETF To Revolutionize Finance
BlackRock CEO Larry Fink believes that a spot Bitcoin exchange-traded fund (ETF) could level the playing field for investors and make cryptocurrency more accessible and affordable. In an interview, Fink expressed his hope that regulators would consider BlackRock’s application for a Bitcoin ETF as a means to democratize the crypto market.
Digital Assets: Aussie Regulators Conduct Searches At Multiple Binance Locations
The Australian Securities and Investments Commission (ASIC) has conducted searches at Binance Australia’s offices as part of an investigation into the company’s defunct local derivatives business. The probe focuses on Binance Australia’s classification of clients as retail or wholesale investors.
Artificial Intelligence: Now, Use Salty Sally To Pay Back Pesky Telemarketers!
AI-driven chatbots can now be employed to consume the time of scammers and telemarketers. A particular chatbot, Salty Sally, now utilizes the advanced capabilities of ChatGPT-4, an AI language model developed by OpenAI. These chatbots, created by the Jolly Roger Telephone Company (JRTC), imitate engaged but confused respondents to frustrate and waste the time of unwanted callers.
FinTech: Klarna Partners With Stellar Global For Virtual Shopping Solution
Klarna, a Swedish fintech company, and Stellar Global, a retail experience consultancy, have collaborated to unveil a virtual shopping solution for e-commerce firms. This innovative tool combines Stellar’s product demonstration teams and studio space with Klarna’s online tech connections, aiming to provide unique purchasing experiences and support brands in boosting conversions.