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/ESG: Sprott Asset Management Debuts ETF Focused On Nickel Miners
Sprott Asset Management has launched the Sprott Nickel Miners ETF (NASDAQ: NIKL), the only US-listed ETF focused on nickel mining companies providing a mineral critical for the clean energy transition.
FinTech: Rain Closes $116M For Its Earned Wage Access Product
Rain, a provider of financial wellness products that empower and engage employees, has raised $116 million in funding, including $66 million in equity and $50 million in debt, making it the largest HR tech funding round in history, based on Crunchbase data.
Digital Assets: Bitwise Launches A Bitcoin Futures ETF That Takes A Leaf Out Of Rollovers In The Energy Market
Bitwise Asset Management has launched the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC), which will provide investors with professionally managed exposure to Bitcoin through an “optimum roll” strategy.
Artificial Intelligence: Gates Calls AI (Such As GPT) A Revolution on Par With The PC And Internet
Microsoft (NASDAQ: MSFT) co-founder Bill Gates has described OpenAI’s GPT AI model as the most significant technological development since the introduction of the modern graphical user interface in 1980.
Venture Capital: JMI Closes Oversubscribed Fund XI At $2.4B
JMI Equity has closed JMI Equity Fund XI and JMI XI Executive Fund with total commitments of $2.4 billion. The oversubscribed fund received strong support from new and existing investors, bringing JMI’s total capital commitments to more than $8bn since its founding in 1992.
Alternative Investments/ESG: Fidelity Debuts Climate-Focused, Global Bond ETF In Europe
Fidelity International has launched a new fixed income ETF in Europe, targeting climate-conscious investors. The Fidelity Global Government Bond Climate Aware UCITS ETF is designed to provide exposure to a portfolio of local currency government bonds issued across the world while delivering an immediate reduction in the carbon emissions profile compared to similar market cap-weighted benchmarks.
FinTech: Users Can Now Receive Western Union Remittances Into Vietnam’s Highly Popular MoMo App
Western Union and MoMo have announced a collaboration enabling MoMo’s 31 million customers to receive Western Union money transfers through the MoMo app. This is the first time Western Union’s services have become available on a leading super app in Vietnam.
Artificial Intelligence: Accenture Snaps Up India-Headquartered Industrial AI Firm Flutura
Accenture (NYSE: ACN), a global professional services company, has announced its acquisition of Flutura, an industrial artificial intelligence (AI) company based in Bangalore, India. Flutura specializes in industrial data science services for manufacturers and other capital-intensive organizations.
Artificial Intelligence: Nuance And Microsoft Launch Clinical Document Application Powered By GPT-4
Nuance Communications, a Microsoft (NASDAQ: MSFT) Company, has announced the launch of Dragon Ambient eXperience (DAX) Express, a clinical documentation application that is the first to combine conversational and ambient artificial intelligence (AI) with OpenAI’s newest model, GPT-4. The solution is aimed at reducing administrative burden and empowering clinicians to spend more time with patients and less time on paperwork. DAX Express can create draft clinical notes for immediate clinical review and completion after each patient visit or
FinTech: Aeropostale Launches Brand Presence On the Metaverse
Fashion brand Aéropostale has partnered with MetaversePlus and Authentic Brands Group to create an immersive experience for its fans in the metaverse. The partnership will use non-fungible tokens (NFTs) and virtual experiences to build community and offer members-only perks and promotions.
Artificial Intelligence: Acer Launches ebii, An AI-Driven Smartbike For City Commutes
Acer (TPE: 2353) has recently launched a new e-bike called the ebii, which features an innovative modular design and an intelligent vehicle control box powered by AI. The control box integrates the battery pack and control box into one unit, allowing for easy maintenance and upgrades, all while being eco-friendly with a smaller carbon footprint.
Venture Capital: Saudi Arabia’s Venture Arm To Invest $80M In Fintech VC Firms
Saudi Venture Capital Company (SVC) has partnered with the Capital Market Authority (CMA) and the Financial Sector Development Program to launch a new investment program called “Investment in Fintech VC Funds”. The program aims to stimulate the establishment of venture capital funds in the financial technology (FinTech) sector. Around SR300 million ($80 million) has been earmarked from SVC’s investment portfolio for this new initiative, which was launched at the Financial Sector Conference 2023 in Riyadh.
Artificial Intelligence: Microsoft To Weave AI Into Its Office Software
Microsoft (NASDAQ: MSFT) is enhancing its suite of productivity tools with artificial intelligence (AI) software, demonstrating an AI “co-pilot” for its Office software. The globally popular Office suite includes Word documents, Excel spreadsheets and PowerPoint presentations.
FinTech: PhonePe, India’s Highly Popular Payment Network, Raises $200M From Majority Owner Walmart
PhonePe, a fintech platform, has raised an additional $200 million in primary capital from Walmart (NYSE: WMT) at a pre-money valuation of $12 billion. The company is in the process of raising $1 billion following its move to domicile in India, and has raised $650 million from several global investors so far.
FinTech: E-Commerce Focused, Corporate Credit Card Issuer Parker Raises $157M
Parker, a charge card built specifically for e-commerce, has raised $157 million in total funding to support the growth of online brands. The card offers differentiated features such as limits based on business performance, rolling terms, emphasis on credit duration over rewards, and software tools to help business operators invest in their best projects.
Venture Capital: Farmland CO2 Remover Andes Lands $30M
Andes, a climate tech startup, has completed a $30 million Series A funding round, bringing its total funding to $38 million. The company uses beneficial microorganisms to remove greenhouse gases from the atmosphere and convert them into minerals in the ground.
Digital Assets: Cathie Wood’s Ark Investment Raises $16.3M For Two Private Crypto Funds
Cathie Wood’s Ark Investment has launched two new private crypto funds, raising over $16 million from investors. The funds, split between a domestic and a Cayman Islands-based version, are open-ended and available only to a small number of investors.
Artificial Intelligence: Adept AI Raises $350M For AI That Does Your Bidding
Adept, a one-year-old startup founded by three AI experts, has raised $350 million as part of its Series B to develop an AI assistant that can turn text commands into sets of actions. This would hopefully enable a future where an engineer can ask an AI assistant draw up the construction plan of a house and stand by as it executes on the command.
Venture Capital: Indian Eyewear Startup Lenskart Lands $500M Funding From The Abu Dhabi Investment Authority
Indian eyewear retailer, Lenskart, has secured a $500 million investment from the Abu Dhabi Investment Authority (ADIA) to help scale its offerings and expand to international markets. This investment extends last year’s round and includes some secondary share purchases from early backers of Lenskart, which brings its total amount raised to $1.5 billion.
FinTech: Stripe Raises $6.5B At A Heavily Truncated Valuation Of $50B
Payment processor Stripe raised $6.5 billion in a non-dilutive Series I financing round, valuing the company at $50 billion, down almost 50% from the record valuation of $95 billion in garnered in a 2021 funding.
Alternative Investments/ESG: Amundi Rolls Out Climate-Change Focused ETFs In Europe
Amundi has introduced two new funds to its lineup of ETFs designed to combat climate change. These funds are focused on small-cap equity markets in Europe and the developed Pacific region. The Amundi MSCI Pacific ESG Climate Net Zero Ambition CTB UCITS ETF and Amundi MSCI Europe Small Cap ESG Climate Net Zero Ambition CTB UCITS ETF have been added to the Deutsche Börse Xetra in euros.
Venture Capital: Square And Social Change Fund United Launch Accelerator For Black and Latino Entrepreneurs
On March 14, Square (NYSE: SQ) and the Social Change Fund United jointly announced the launch of an accelerator program aimed at supporting Black and Latino entrepreneurs. The program, called “Forward,” offers mentorship, coaching, and funding to early-stage businesses.
FinTech: Lenovo and Tabit Tie-Up To Offer BNPL To Small Businesses In Canada
Lenovo (HKG: 0992) has partnered with Tabit, Canada’s first B2B Buy-Now-Pay-Later (BNPL) solution available at Point-of-Sale, to offer their business customers financing options of up to 12 months, including a 30-day interest-free option. This partnership will help small businesses access immediate and fully automated financing at the point of sale, relieving cash flow pressure while benefiting from attractive payment terms and a seamless customer experience.
Artificial Intelligence: OpenAI Announces GPT-4
OpenAI, backed by Microsoft (NASDAQ: MSFT), has announced the release of its latest AI model, GPT-4, which is capable of generating content in response to both text and image prompts, a capability described as “multimodal.”