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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Digital Assets: Amidst Crypto Winter, Singapore’s DBS Bank Enjoyed Robust Growth At Its DDEx Digital Exchange
Singapore-based DBS Bank has revealed impressive growth at its DBS Digital Exchange (DDEx) during 2022. It reported an 80% increase in the number of Bitcoin (BTC) traded on DDEx in 2022 compared to the previous year, and a doubling in the number of BTC custodized with the bank. The number of Ether (ETH) traded on DDEx was also up by around 65%.
Venture Capital/Real Estate: Dreamscape Lands $850M For Gaming And Entertainment Platforms, Revamp Of Rio
Dreamscape Companies, a real estate development and investment firm founded by Eric Birnbaum, has completed an $850 million capital raise. Wells Fargo (NYSE: WFC) and Raymond James led the debt syndicate and equity private placement, respectively.
FinTech: Revolut May Report A Profit In Audited 2021 Accounts
Revolut, a UK-based fintech, is expected to finalize its 2021 financial accounts next week after months of delay, according to people familiar with the matter. The company’s audit committee will meet on Thursday to approve the accounts, which are then expected to be signed off by auditor BDO on Friday.
Artificial Intelligence: Woolworths Australia Expands AI-Powered Self-Checkouts
Woolworths (ASX: WOW) is expanding the use of its self-checkouts with cameras and artificial intelligence in over 250 stores in New South Wales, Queensland, and Victoria, Australia. The system uses camera vision and AI to detect when items are not scanned correctly, and if an item is missed, a short video is replayed for the customer to rescan it.
Alternative Investments/ESG: Four New ETFs From DWS Themed On UN Sustainable Development Goals
DWS, the German asset manager, has launched four new exchange-traded funds (ETFs) on the London Stock Exchange, the Xetra market and the Borsa Italiana, as part of its suite of products that support the United Nations Sustainable Development Goals (SDGs). Three of the new ETFs target Goals three, six and seven and one delivers diversified exposure across multiple SDGs.
Digital Assets: Abu Dhabi Creates $2B Warchest For Web3, Blockchain, And Metaverse Startups
Abu Dhabi is committing over $2 billion to a new program, “Hub71+ Digital Assets,” aimed at financing startups in the Web3, blockchain, and metaverse application fields. This ecosystem will be located at Hub71 in Abu Dhabi Global Market (ADGM).
FinTech: Visa, Froda, And Lunar Tie-Up For Global SME Lending Solution
Fintech company Froda has partnered with Visa (NYSE: V) and Nordic digital bank Lunar to create a new, global loan solution for small and medium-sized enterprises (SMEs). The solution will utilize push-payment technology to reduce transaction times to a few seconds (instead of months, as now), aiming to offer easy access to financing and instant payouts for entrepreneurs.
Venture Capital/AI: MDI Health Nabs $20M Series A For Its Medication Management Platform
MDI Health has raised $20 million in Series A funding led by Intel Capital to further develop their AI-powered platform that automates personalized medication treatment at scale. Maverick Ventures Israel and existing investors Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures, and former SVP of Optum Richard Montwill also participated. The round brings MDI Health’s cumulative financing to $26 million.
Alternative Investments/ESG: Calamos Launches ETF For Global Sustainable Stocks
Calamos Investments LLC, in partnership with NBA player Giannis Antetokounmpo, has listed the Calamos Antetokounmpo Global Sustainable Equities ETF (NYSEARCA: SROI) on NYSE ARCA.
Artificial Intelligence: After Users Flag Creepy Interactions With The New Bing, Microsoft Mulling Tweaks
Microsoft’s (NASDAQ: MSFT) release of a new version of Bing search engine that includes the artificial intelligence (AI) of a chatbot has led to the company considering tweaks and guardrails. The tech giant is looking at adding tools for users to restart conversations and limit conversation lengths before they veer into strange territory.
Digital Assets: Berkshire Hathaway’s Charlie Munger Delivers Fresh Diatribe Against Crypto
Charlie Munger, the Vice Chairman of Berkshire Hathaway (NYSE: BRK.A), has referred to people who oppose banning cryptocurrencies as “idiots” and said that anyone buying crypto is “ridiculous.” He was speaking during a live-streamed interview with CNBC at the Daily Journal’s annual shareholders meeting.
FinTech: Aspire, The All-In-One Finance OS, Snags $100M
Aspire, a Singpaore-based financial services provider founded in 2018, has closed an oversubscribed Series C round at $100 million. The round included investments from Lightspeed, Sequoia Capital SEA, Paypal Ventures, LGT Capital Partners, Picus Capital, and Mass Mutual Ventures. (Aspire)
Venture Capital: AI+Quantum Computing Focused Startup SandboxAQ Lands $500M
Sandbox AQ, a company that develops software for post-quantum cryptography, quantum sensing, and quantum simulations, raised $500 million in a funding round. Breyer Capital, T. Rowe Price funds, and TIME Ventures, as well as former CEO of Google and current Sandbox AQ Chairman Eric Schmidt, all participated in the round.
Artificial Intelligence: The US Military Tests AI-Powered Target Acquisition And Attack On Its M1 Abrams Tank
The US military has mounted an experimental AI-driven target recognition system on an M1 Abrams tank, as part of the Advanced Targeting and Lethality Aided System (ATLAS) program. The system is designed to help detect and neutralize threats, by automating human tasks during passive target acquisition using machine learning algorithms.
Alternative Investments/ESG: Timothy Plan Unveils Biblical High Dividend ETF
Timothy Plan, an investment company based in Florida, has launched a new ETF that is suitable for investors who abide by biblical principles. The Timothy Plan Market Neutral ETF (NYSEARCA: TPMN) is a market-neutral strategy that aims to provide high dividends. It invests in dividend-paying stocks of companies across various market capitalizations in developed markets.
Artificial Intelligence: AI Flies A Fighter Jet For Over 17 Hours
Lockheed Martin’s (NYSE: LMT) VISTA X-62A, a unique training aircraft, was flown by an AI agent for over 17 hours in December, marking the first time AI was used on a tactical aircraft.
Digital Assets: Hong Kong The New Mecca For Crypto Providers?
Interactive Brokers and DBS to unveil crypto trading in Hong Kong. Meanwhile, Bakkt is sunsetting its consumer app.
FinTech: Across The Pond, Tie-ups In Fintech On Cashbacks And Insurance
France: BNP partners with Lemonade on renters’ insurance; Belgium: ING ties with Amazon on cashbacks.
Venture Capital/FinTech: Indian Payments Giant PhonePe Lands $100M
PhonePe, one of India’s largest fintech platforms, has raised an additional $100 million in funding from investors Ribbit Capital, Tiger Global, and TVS Capital Funds (TCF), bringing the total amount raised in six weeks to $450 million.
Alternative Investments: First Trust Unveils ETF Focused On Alternative Assets
First Trust has launched an actively managed ETF called the First Trust Multi-Strategy Alternative ETF (NYSEARCA: LALT). The fund aims to provide long-term total return by investing in alternative asset categories and strategies using exchange-traded products, such as ETFs, ETNs, and trusts backed by physical commodities or currencies.
Venture Capital: TransitTech Startup Via Nabs $110M Funding
Via, a TransitTech leader, has closed a $110 million financing round led by 83North and other investors, valuing the company at $3.5 billion. The company previously raised a $130 million Series G in November 2021 at a $3.3 billion valuation, according to Bloomberg. Cumulatively, it has raised about $900 million.
FinTech: NatWest Group Acquires Cushon, A UK Savings FinTech
NatWest Group (LON: NWG) plans to acquire a majority shareholding of 85% in Cushon, a workplace savings and pensions fintech, for £144 million (US$175 million), with the remaining 15% retained by Cushon management.
Digital Assets: SEC Takes Aim At The BUSD Stablecoin, Sparks Redemptions
The US Securities and Exchange Commission (SEC) has issued a Wells notice to Paxos Trust Company, stating its intention to sue the firm for allegedly issuing unregistered securities in the form of the Binance USD (BUSD) stablecoin. Paxos issues several popular stablecoins and is regulated by the New York State Department of Financial Services.
Artificial Intelligence: Palantir Reports Profitable Quarter, Forecasts Its First Year In The Black
Data analytics software maker, Palantir Technologies (NYSE: PLTR), has forecast its first profitable year and announced cost-cutting measures, including slowed hiring and reduced investments in cloud computing, due to lower spending from cautious businesses.