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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Artificial Intelligence: China Should Participate In Global Oversight Of AI, Says Altman
OpenAI’s CEO, Sam Altman, believes that China should play a significant role in establishing guidelines for the safe development of artificial intelligence (AI) systems. Altman made this statement during a conference in Beijing, emphasizing the need for global cooperation as AI technology becomes more powerful.
Artificial Intelligence: AI Being Trialled At Aberdeen Royal Infirmary To Detect Breast Cancer
A trial is underway at Aberdeen Royal Infirmary to investigate the use of artificial intelligence (AI) in assisting radiologists with the review of mammograms. Mammograms are low-level X-rays used in breast cancer screenings to detect changes too small to see or feel. The trial has already proven successful in identifying early-stage breast cancer for one participant, who will now undergo surgery.
Digital Assets: Banks’ Response To SEC Action Forces Binance.US To Halt US Dollar Deposits And Withdrawals
Binance.US, a cryptocurrency exchange, is facing consequences following a lawsuit filed by the US Securities and Exchange Commission (SEC). The exchange has received notifications from its banking partners indicating a pause in US dollar fiat channels, affecting its ability to process USD fiat deposits and withdrawals.
Fintech: American Express And Plaid Announce API-Based Integration
American Express (NYSE: AXP) has announced a data sharing agreement with Plaid, a data network that powers the digital financial ecosystem, to offer customers enhanced digital finance options while ensuring their account security. Through an API-based integration, American Express customers will gain secure connections to over 8,000 financial apps and services within Plaid’s network, without having to share their American Express password with third parties.
Venture Capital: Cohere AI Gets Investment From Top Tech Names
Toronto-based AI company Cohere has raised $270 million in a funding round led by Inovia Capital and featuring investors such as Nvidia (NASDAQ: NVDA), Oracle (NYSE: ORCL), Salesforce Ventures, and SentinelOne (NYSE: S). The funds will support Cohere’s language models used in chatbots, search engines, and other AI applications.
Digital Assets: Bitcoin Denominated, AI-Powered Life Insurance Provider Meanwhile Raises $19M
Meanwhile, a digital asset-denominated life insurance provider, has secured approximately $19 million in funding from investors including Sam Altman, the CEO of OpenAI, and Gradient Ventures, backed by Google (NASDAQ: GOOGL).
FinTech: Ualá Turns Up The Heat On Mexican Fintech Rivals
Ualá, a fintech company based in Buenos Aires, has introduced a high-yield savings account in Mexico shortly after obtaining a banking license in the country. The savings account offers an annual yield of 9%, and the banking license enhances the safety guarantee, making it ten times greater than what fintechs with a “sofipo” license can provide.
Artificial Intelligence: Adobe Throws Open Firefly To Enterprise
Adobe (NASDAQ: ADBE) has introduced a new solution called Adobe Firefly for Enterprise, which leverages its Firefly generative AI model to assist organizations in meeting the increasing demand for content creation in the workplace. The announcement was made at the Adobe Summit event.
Venture Capital: Digibee Raises $60M In Round Led By Goldman Sachs Asset Management
Digibee, a company specializing in integration platform as a service (iPaaS), has announced that it has secured $60 million in Series B funding. The lead investor in this funding round is the Growth Equity business within Goldman Sachs Asset Management, with participation from other notable investors including Leadwind, Vivo Ventures, Kinea, and G2D.
Digital Assets: CFTC Approves Trading In Margined Bitcoin And Ether Futures Contracts At Cboe Digital
Cboe Digital, the crypto exchange and clearinghouse, has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to offer margined bitcoin and ether futures contracts. This regulatory nod allows Cboe’s clients to trade cryptocurrency futures with less collateralized capital upfront. Previously, the exchange only offered fully collateralized trading, where users had to provide the full contract amount before trading.
Artificial Intelligence: Andreessen Strikes Contrarian Stance On AI, Says It Will Save The World
Venture capitalist Marc Andreessen recently published a lengthy essay discussing his views on artificial intelligence (AI) and the need to build and embrace it rather than succumb to fear and regulation. He emphasizes that AI is not sentient and lacks goals or intentions, debunking claims of AI posing an existential threat.
FinTech: Global Trade Financing Platform Mitigram Secures $11M To Drive Growth
Stockholm-based digital platform Mitigram has raised an additional $11 million in its latest funding round, bringing the total amount raised to $38 million. The funds will be used to scale up the organization and enhance its product capabilities.
Venture Capital: Eduardo Saverin’s B Capital Looking To Raise $500M For Third Ascent Fund
Eduardo Saverin’s B Capital Group is currently engaged in discussions to raise $500 million for a fresh venture fund targeting early-stage startups. According to anonymous sources familiar with the matter, the fund will be the company’s third Ascent Fund and will concentrate on investments in seed and Series A rounds.
FinTech: Payments Platform Thunes Lands $60M Series C
Thunes, a global B2B payment infrastructure platform, has achieved significant growth milestones and secured a successful Series C funding round, surpassing $60 million. Led by Marshall Wace, a London-based hedge fund, with support from Bessemer Venture Partners and Southeast Asian private equity firm 01Fintech, the funding will support Thunes’ vision of creating a next-generation payment system that enables instant, quick, and secure cross-border transactions.
Artificial Intelligence: Broadridge Brings AI To Bond Trading Via BondGPT
Broadridge Financial Solutions has introduced an AI-powered application called BondGPT on its LTX platform, aiming to revolutionize bond selection and portfolio construction processes. BondGPT utilizes OpenAI GPT-4 technology to provide a conversational interface that helps traders identify corporate bonds based on specific criteria.
Digital Assets: Binance Yesterday. Coinbase Today. SEC On The Warpath.
The Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase (NASDAQ: COIN), a prominent cryptocurrency exchange, accusing the company of operating as an unregistered exchange and broker. The SEC is also alleging that 13 assets listed on Coinbase’s platform are considered crypto asset securities. The regulatory body is seeking a permanent injunction to prevent Coinbase from continuing these activities.
Venture Capital: Storied Venture Capital Firm Sequoia To Split Up In Three Units
In response to the increasingly complex geopolitical landscape and escalating tensions between Beijing and Washington, venture-capital giant Sequoia plans to separate its China and other Asia operations from its U.S. business.
Digital Assets: SEC Charges Binance And Its CEO Changpeng Zhao With Securities Violations
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, the popular cryptocurrency exchange, as well as its CEO Changpeng Zhao (CZ) and Binance.US. The SEC alleges that Binance violated federal securities laws by offering unregistered securities, including the BNB token and Binance-linked BUSD stablecoin, to the public.
FinTech: PayNearMe Scores $45M Series D Round
PayNearMe, a fast-growing fintech company based in Santa Clara, California, has successfully raised $45 million in Series D funding. The investment round was led by Queensland Investment Corporation (QIC) and saw participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management, and H. Barton Asset Management.
Digital Assets: Rosbank Clients Can Now Make International Payments Via Crypto
Rosbank, a major Russian bank, has introduced a new option for clients to use cryptocurrencies in international transactions, focusing on businesses engaged in foreign partnerships. The bank is currently testing the service with corporate and individual clients, while ensuring compliance with Russian legislation and regulations.
Venture Capital: Aster’s New Fund Acquires Portfolio Sold By Totalenergies Ventures
Aster, a venture capital firm based in Paris, has completed its first private equity secondary market transaction. The company acquired a portfolio of minority stakes in about twenty companies from TotalEnergies Ventures, the CVC arm of TotalEnergies. This acquisition strengthens Aster’s position in the Climate Tech innovation financing market and demonstrates its international experience and expertise in technologies contributing to carbon neutrality.
FinTech: Adyen Launches ‘Payout Services’ For Faster Payouts To The Gig And SMB Economies
Adyen, a global financial technology platform, has launched Payout Services, allowing its customers to make instant payouts to their users or partners. By connecting directly to real-time payment rails, Adyen’s banking infrastructure enables faster processing of payouts, freeing up millions in daily cash flow for customers. This move supports greater operational efficiency, empowering businesses and helping them achieve their goals more quickly.
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer 1 blockchain and smart contract platform launched in May, offers innovative on-chain experiences and assets.
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and products for the beauty industry. This investment makes L’Oréal the exclusive beauty industry investor in Debut and aims to support the company in scaling its manufacturing platform to meet the growing demand for breakthrough ingredients in cosmetics, skincare, and packaging.