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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FinTech: Block’s Q1 Numbers, Powered By Cash App, Beat Estimates
Block Inc. (NYSE: SQ), a digital payments company led by Jack Dorsey, has increased its forecast for full-year profit after its Cash App product saw a surge in usage during Q1 2023. Earnings at the company also beat Street estimates.
Venture Capital: Germany’s HV Capital Closes Ninth Fund At Record €710M ($782M)
HV Capital, a German VC fund, has successfully raised €710 million for its newest investment fund, HV Capital Fund IX, which will allow them to continue investing in high-growth companies across various sectors. The new fund will be divided into two vehicles, Fund IX Venture and Fund IX Growth, with investment sizes ranging from €500,000 to €60 million.
Artificial Intelligence: Language Models Such As Those That Power ChatGPT May Boost Antibodies
Scientists have shown that generative artificial intelligence (AI) can increase the effectiveness of antibodies against viruses like SARS-CoV-2 and ebolavirus. The technology, which utilizes so-called large language models, is a shortcut through a laborious process that requires isolation of antibody molecules from the blood of people who have recovered from COVID-19.
Uber Expands Its Strategic Payments Partnership With Stripe Across Major Markets
Uber (NYSE: UBER) has signed an expanded global partnership with Stripe, the financial infrastructure platform for businesses, to reduce payments costs and provide more payment options to customers.
Venture Capital: Convergent Therapeutics Lands $90M For Treatment Of Cancers Using Radiopharmaceuticals
Convergent Therapeutics Inc., a clinical-stage biotech firm specializing in developing next-generation radiopharmaceuticals for cancer treatment, has completed a $90 million Series A financing led by OrbiMed and RA Capital Management, with Invus participating.
Liquid Alternatives: Investing In Liquid Alts In 2023
As bonds failed to provide protection in 2022, investors have turned to liquid alternatives, which offer exposure to asset classes or investment strategies that are considered alternative to traditional assets with similar liquidity profiles. Examples include hedge funds, commodities, and REITs.
Artificial Intelligence: CMA, The UK’s Antitrust Watchdog, Launches An Investigation Into Generative AI
The UK’s Competition and Markets Authority (CMA) has announced a review of the artificial intelligence (AI) market, as concerns mount over the use of AI tools for the dissemination of false or misleading information. The CMA’s review will examine the foundational, or underlying systems that support AI tools such as OpenAI’s ChatGPT.
Venture Capital: Network Software Provider Mavenir Lands $100M
Telco network focused, cloud-based software developer Mavenir has closed on a $100 raise that will enable it to advance digitization of its clients with software including IMS, Converged Packet Core and Open RAN, and artificial intelligence.
Digital Assets: Nasdaq-Listed Bitdeer and Bhutan To Establish A US$500M Fund For Carbon-Free Mining Of Digital Assets
Bitdeer Technologies Group (NASDAQ: BTDR), a Singapore-based technology company for the cryptocurrency mining community, has partnered with Druk Holding & Investments (DHI), the commercial arm of the Royal Government of Bhutan, to develop green digital asset mining operations in the Kingdom of Bhutan.
Alternative Investments/ESG: DWS Launches Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF
DWS has launched a new Xtrackers ETF that focuses on equities in the Nordic region, which is part of its suite of Paris-aligned climate ETFs in Europe.
Artificial Intelligence: Top Tech Leaders To Meet In The White House To Discuss AI Safety
Top executives of the biggest technology companies, including Google (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), OpenAI, and Anthropic, have been summoned on Thursday to a meeting at the White House to discuss critical issues concerning artificial intelligence (AI).
Venture Capital: Delivery Drone Maker Zipline Lands $330M Series F Round
Drone delivery startup Zipline has raised $330 million in a Series F funding round, increasing its valuation to $4.2 billion, up from $2.7 billion two years ago. The company’s autonomous delivery drones were first deployed in Rwanda in 2016 and later expanded to Ghana, Cote d’Ivoire, Japan, Kenya, and Nigeria.
Digital Assets: Revolut Launches In Brazil, Offers Crypto
Revolut has launched its financial app in Brazil, marking its entry into the Latin American market. The company has established a strong team on the ground, with Glauber Mota, formerly of BTG Pactual, as its local CEO. Revolut aims to tap into Brazil’s large remittance corridors and the growing trend towards digital services. Its global account will enable foreign exchange and remittance capabilities in 27 currencies, along with a card that can be used in over 150 countries.
FinTech: Stripe And Microsoft Join To Offer Card Payments In Real Time Within Microsoft Teams
Microsoft (NASDAQ: MSFT) has partnered with financial infrastructure platform Stripe to enable businesses on Microsoft Teams to accept payments directly through the platform. Stripe will power Teams Payments, enabling meeting hosts to accept card payments during virtual appointments, classes, events, and more.
Artificial Intelligence: Innovative AI Technology Deciphers Brain Activity To Generate Text Without Surgical Implants
Researchers at the University of Texas at Austin have developed an artificial intelligence system called a semantic decoder that can transform an individual’s neural signals, either while they are listening to a narrative or mentally visualizing narrating a story, into a coherent and uninterrupted text.
Digital Assets: Sotheby’s Launches Secondary NFT Marketplace
Sotheby’s, the art auction house, has launched a peer-to-peer secondary marketplace for non-fungible tokens (NFTs) via its Web3 arm, Sotheby’s Metaverse.
FinTech: Amazon Credit Card Holders Get New Benefits Including From Chase On Travel
Chase and Amazon have announced new features and benefits on their Amazon Visa card portfolio, including increased opportunities to earn cash back on purchases and the ability to earn and redeem rewards daily.
Venture Capital: Top VCs Lap Up OpenAI’s $300M Tender Offer Of Shares
OpenAI, the startup that created ChatGPT, a widely used conversational AI model, has reportedly gained new financial backers, including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global. The venture capital (VC) firms have invested more than $300 million at a valuation of $27 billion – $29 billion.
Artificial Intelligence: AI Pioneer Geoffrey Hinton Quits Google
Geoffrey Hinton, known as the “Godfather of AI,” has left Google (NASDAQ: GOOGL), where he worked for over a decade, to freely speak out about the risks of artificial intelligence (AI). Hinton, a lifelong academic whose career was driven by his personal convictions about the development and use of AI, is among a growing number of critics who claim that tech companies are racing toward danger with their aggressive campaign to create products based on generative AI.
Digital Assets: FDIC Report Says Signature Bank Collapsed Due To Mismanagement And Banking Turmoil
The Federal Deposit Insurance Corp. (FDIC) has released a report stating that Signature Bank’s collapse was due to mismanagement by its officers and “contagion effects” from the collapse of Silicon Valley Bank and voluntary liquidation of Silvergate Bank.
Venture Capital: As Generative AI Booms, Pinecone Lands $100M Series B
Pinecone Systems Inc. has secured $100 million in funding in a recent investment round led by Andreessen Horowitz, which puts the company’s valuation at $750 million. The New York-based startup provides vector data storage for large language models that form a core component of the infrastructure that supports AI tools.
Artificial Intelligence: Norway’s Oil Fund Calls For Governmental Regulation Of AI
The CEO of Norway’s $1.4 trillion wealth fund, also known as its oil fund, has urged governments to regulate the use of artificial intelligence (AI) and announced plans to set ethical guidelines for the 9,000 companies in which it invests.
Liquid Alternatives: As Rates Rise, Multi-Asset Fund Manager Pendal Recommends Liquid Alternatives
According to Alan Polley, a portfolio manager at Pendal, it is time to consider moving from illiquid alternative investments to liquid alternatives. Polley believes that illiquid assets, which have been benefiting from a falling interest rate environment, are no longer supported by a tailwind, and the rising interest rates are creating headwinds for these assets.
FinTech: Sezzle’s Consumer Financing Solution For “Buy Now, Pay Later” Integrates Into Celerant’s Ecommerce Platform
Celerant Technology has partnered with Sezzle Inc. (ASX: SZL) to integrate the “buy now, pay later” consumer financing solution into its eCommerce platform. Retailers can now offer Sezzle Pay with 0% APR on their eCommerce website to attract more customers and increase online sales.