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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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Alternative Investments/AI: Tidal Files For ETF (CHAT) To Capture The Conversational AI Theme
A new exchange-traded fund (ETF) called the Conversational AI, AI and Innovation ETF has been filed with the Securities and Exchange Commission, seeking to invest in global stocks connected with artificial intelligence, specifically in “conversational” AI and innovation. Appropriately, the new ETF would trade under the ticker CHAT.
Venture Capital: Two New Venture Funds Focus On Africa And Climate Investing
Partech closed on €245 million (~$263 million), while Planet A raised €160M (~$171 million).
FinTech: Fintech Collaborations In The News
Mastercard (NYSE: MA) and Xsolla have announced a partnership to improve the digital payment experiences for gamers. The collaboration aims to provide secure, frictionless and rewarding payments for gamers, from in-game currency gifting to improved creator payout processes.
Digital Assets: Financial Doom And Gloom Warnings From Kiyosaki, Schiff
Robert Kiyosaki and Peter Schiff have both issued dire warnings about the precarious status of the financial markets. While Kiyosaki is the acclaimed author of “Rich Dad Poor Dad”, Schiff is an economist and inveterate gold bug.
Alternative Investments/ESG: Sprott Unveils ETFs For Clean Energy Metals
The four new ETFs focus on providing investors pure-play exposure to critical minerals essential to the generation, transmission, and storage of cleaner energy.
Artificial Intelligence: China Said To Deploy AI-Powered Spy Balloons
The use of spy balloons by China has raised alarm in the US, as they have been reportedly used for surveillance missions over US military facilities. These highly advanced balloons, powered by Artificial Intelligence (AI), are capable of conducting high-altitude reconnaissance operations.
Alternative Investments/ESG: Six New Responsible Funds Flag Off Morgan Stanley’s ETF Platform
Morgan Stanley Investment Management (MSIM) has launched its ETF platform with six Calvert ETFs listed on NYSE Arca. The ETFs feature Calvert’s responsible investing approach and offer access to four indexed and two active ESG strategies across asset classes.
Artificial Intelligence: MusicLM, A New Generative AI Tool From Google, Creates Music From Text
Google (NASDAQ: GOOGL) recently published a research paper on its new AI tool, MusicLM, designed to create music. The tool is based on machine learning and is trained on vast amounts of data to learn how to recreate different forms of content, including music.
Artificial Intelligence: Snap Mulling AR Glasses Powered By Generative AI
Snap (NYSE: SNAP), the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology. CEO Evan Spiegel stated that AI will be critical to the growth of AR, including AR glasses, and that the company is thinking about integrating AI into its Lens Studio technology. (daijiworld.com)
Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and BNB at over 90 million Mastercard merchants globally. However, the user must have a valid national ID.
Artificial Intelligence: Instagram Co-Founders Are Back With Artifact, A Personalized Newsfeed App
Instagram co-founders, Kevin Systrom and Mike Krieger, are launching Artifact, a news reading app that uses machine learning to understand users’ interests and offers a personalized newsfeed of articles from a curated list of publishers.
Alternative Investments: BlackRock In Move To Attract Younger Savers To Its ETFs
BlackRock is teaming up with neobroker Bux to offer low-cost ETF savings plans in Europe. The savings plan, which will cost just €1 per month on the Bux platform, will allow investors to build portfolios of up to 10 BlackRock iShares ETFs, with a €1 commission fee for portfolio trades.
Venture Capital: Generative AI Startup Anthropic May Nab $300M Funding
Anthropic, a San Francisco-based AI start-up specializing in generative AI, is close to securing $300 million in funding, according to sources. The deal could value the company at $5 billion, said the New York Times.
Artificial Intelligence: AI-Powered Study Finds Earth Will Reach 1.5C Warming In The Next Decade
A new study warns that the world is close to exceeding a critical climate threshold, signaling that time is rapidly running out to avoid the most disastrous effects of global warming.
Artificial Intelligence: AI Detects Eight “Technosignatures” From Vast Trove Of Radio Telescope Data
Scientists say a new machine learning technique has discovered eight previously unknown “signals of interest” in the search for alien life. The signals, detected in five nearby stars, could indicate alien intelligence on other planets.
FinTech: UK Digital Bank Monzo Eyes Potential Profitability In 2023
UK neobank Monzo achieved revenue growth of 250% during 2022, raising hopes that 2023 would be the first year it makes into the black. Revenues surged 250% to £440m in the year ending December 2022, compared to the 92% growth to £154.2m reported for the year ending February 2022. Monzo now aims to break even this year, a singular achievement among Europe’s neobanks. The bank has been cash flow positive since October 2022.
FinTech: Stripe Could Raise $2.5B At A $55B-$60B Valuation
Thrive Capital, founded by Joshua Kushner, is leading an investment in Stripe, a payments provider, at a $55 billion to $60 billion valuation, down from two years ago, according to sources. Stripe aims to raise $2.5 billion and Thrive has committed $1 billion, another source said.
FinTech: Stripe Becomes Primary Payments Infrastructure For BMW Of North America
Stripe, the fintech firm, has been chosen by BMW of North America to handle its US ecommerce, including preorders and online sales of BMW warranties, maintenance, digital services, and more. The move comes as automakers seek digital solutions to meet rising customer expectations.
Venture Capital: Steel Decarbonizing Company Boston Metal Raises $120M
Boston Metal, a decarbonization tech firm for steel production, announced the close of its $120M Series C funding led by ArcelorMittal. Microsoft’s Climate Innovation Fund and SiteGround Capital also joined as new investors, along with existing ones.
Venture Capital: Digital Health Insurer Angle Nabs $58M Series A
Angle Health, a digital-first health insurance provider, announced $58 million in Series A funding led by Portage. The funding round also included participation from PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher, and support from existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator.
Venture Capital: French Startup Renaissance Fusion Lands €15M ($16.3M) Seed Round
French nuclear fusion startup Renaissance Fusion has raised €15 million ($16.4 million) in a seed round led by US climate tech venture capital firm Lowercarbon Capital. European investors including HCVC, Positron Ventures and Norrsken also participated in the round.
Venture Capital: VC Giant NEA Raises $6.2B For Two Funds Focused On Tech And Healthcare
New Enterprise Associates (NEA), a 45-year-old venture capital firm, announced that it has closed on $6.2 billion across two funds, bringing its assets under management to over $25 billion as of December 31, 2022.
FinTech: Kroger Health To Use Its Vast Network To Facilitate Clinical Trials
Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), announced the creation of its clinical trial site network in partnership with pharmaceutical companies, contract research organizations, and health systems. The company’s first trial, in collaboration with Persephone Biosciences, is currently recruiting participants for a study on colorectal cancer gut and immune health. Initial enrollment for the study will take place at select Kroger pharmacies and The Little Clinic LLC locations in Toledo, Ohio, with plans to expand locations and participants over the next year.