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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Liquid Alternatives: DIPC, A Liquid Alt Offering From FundFront And DipSea Capital
Investors can hope to generate steady income and as well participate in outsized equity market moves with DIPC, a product that is an alternative to the traditional but currently underperforming 60:40 portfolio. FundFront last month launched DIPC in partnership with Dipsea Capital to offer the latter’s tactical relative value strategy by trading a basket of short-dated U.S. equity options and momentum stocks.
Alternative Investments/ESG: Hypatia Announces New ETF Focusing On Companies Led By Women
Hypatia Capital Management LLC has launched an ETF that invests in women-led, publicly traded companies. The Hypatia Women CEO ETF (NYSE: WCEO) will seek out companies led by a female CEO or Board Chair. Hypatia is an asset management group focused on female CEOs and balanced management teams, with a CEO-level female executive network that includes over 1000 business leaders.
Digital Assets: It Gets Worse – Coinbase Announces A Third Round Of 950 Layoffs
In a blog post this morning, Coinbase (NASDAQ: COIN) CEO and Co-Founder Brian Armstrong said he still expected further contagion from the crypto market’s downturn, but the events represented an opportunity for the company and validated its long-term strategy. He said the company had to be operationally efficient enough to take advantage and therefore needed to reduce operating expense by about 25% quarter-on-quarter, which included letting go of about 950 people.
Artificial Intelligence: Microsoft Mulling $10B Investment in ChatGPT Creator OpenAI
OpenAI launched ChatGPT on November 30, and the program went viral soon thereafter. Sources having knowledge of the matter have revealed to Bloomberg that Microsoft Corp (NASDAQ: MSFT) is negotiating to invest as much as $10 billion in OpenAI, the startup that created the wildly popular AI bot named ChatGPT. The sources also disclosed that…
Digital Assets: Galaxy Digital Bails Out Bitcoin Miner Argo In $100M Deal Including Purchase Of Mining Facility
Argo Blockchain (NASDAQ: ARBK) and Galaxy Digital Holdings Ltd (TSX: GLXY) have agreed a $100 million deal that covers the sale of a bitcoin facility to Galaxy for $65 million and a $35 million restructuring loan to Argo.
Digital Assets: Transparency And Risk Management At Crypto Firms Still Fall Short Despite FTX (WSJ)
In the absence of a regulatory mechanism in the US, and particularly after the collapse of so many crypto industry players (including FTX – the latest and most high profile) there is all around concern regarding the procedures for risk management, fair accounting, and internal controls that must be implemented within the industry. According to the WSJ, though crypto firms have started to disclose more information about their affairs, investors are still not comfortable with the levels of transparency and accountability in the industry.
Digital Assets: The DOJ Seized 55.27M Shares Of Robinhood And $20.75M Currency In Broking Account Linked To SBF
The seizure followed the December 9 indictment of SBF for charges including wire fraud, money laundering, securities fraud, commodities fraud and campaign finance violations.
Venture Capital: Cyber Security Firm Netskope Raises $401M From Top Notch Investors
Security firm Netskope announced an oversubscribed round of $401 million that saw participation from Morgan Stanley Tactical Value, Goldman Sachs Asset Management, Ontario Teachers’ Pension Plan, and Canada Pension Plan Investment Board (CPP Investments)
Venture Capital: Tennis Star Serena Williams Leads $12M Round In Juno Medical
Juno Medical operates a tech-enabled healthcare model designed to meet the everyday healthcare needs of “the 99%”, focusing on revitalizing neighborhoods alongside delivery of a beautiful environment, transparent pricing, and exceptional care. The company last month raised a $12 million Series A co-led by Julian Eison, Managing Partner at NEXT VENTURES, and Serena Williams, Managing Partner at Serena Ventures.
Venture Capital: Energy-As-A-Service Provider Redaptive Raised $200M
Redaptive offers energy-efficiency upgrades as a service to commercial buildings including fully-funded, end-to-end sustainability solutions that save money, build resiliency and meet ESG goals. The company raised about $200 million from the Canada Pension Plan Investment Board. Certain existing investors, including Linse Capital and CBRE, will also be participating in the investment. Redaptive is expecting to announce a second close in early 2023.
Venture Capital: Solar Power Producer Silicon Ranch Amidst $600M Raise
Silicon Ranch, one of the largest independent solar power producers in the US, announced a $600 million equity fundraising out of which it closed on $375 million in December 2022. The company is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for partners across North America.
Venture Capital: ChatGPT Creator OpenAI May Value At $29B In Share Sale
In a Thursday report the Wall Street Journal revealed that OpenAI, the creator of the highly successful ChatGBT AI bot, was in talks to sell existing shares amounting $300 million to VC firms Thrive Capital and Founders Fund. The transaction (known as a tender offer) would value OpenAI at around $29 billion, WSJ said, with the sellers being existing shareholders including employees.
Alternative Investments/ESG: DWS Launches Two ESG S&P500 ETFs In Europe
DWS launched in December two new ESG-focused UCITS ETFs based on the S&P500 titled the Xtrackers S&P 500 ESG UCITS ETF and Xtrackers S&P 500 Equal Weight ESG UCITS ETF.
Alternative Investments/ESG: Element Launches ETF Focused On Future Energy Metals
RBB Fund Complex, a turnkey ETF and mutual fund solution that permits an investment adviser to focus on its core competency of asset management, has launched the Element EV, Solar & Battery Materials (Lithium, Nickel, Copper, Cobalt) Futures Strategy ETF (NYSE: CHRG). Element ETFs, LLC is a newly launched investment adviser to CHRG, which seeks to provide actively-managed exposure to the core commodities essential to the production of electric vehicles, battery energy storage systems, and other renewable infrastructure.
Artificial Intelligence: Apple Makes A Foray Into Audiobooks In Swipe At Amazon Kindle
Apple (NASDAQ: AAPL) is seeking to reduce the cost and complexity of creating audiobooks by using AI-powered narration instead of a human voice. These digitally read audiobooks are now available on Apple Books and the facility could be a boon for smaller publishers and lesser-known authors that previously had to use a human narrator. Plus, the manual process was expensive and time consuming.
Artificial Intelligence: DeepMind Uses Reinforcement Learning (AI) To Boost HVAC Efficiency
Another fact: Space cooling itself accounts for around 10% of global electricity demand. HVAC efficiency gains can therefore make a dent in the efforts needed to control climate change and global warming. These gains can be boosted by employing AI technology and data analysis that can make fine tuning adjustments to the HVAC equipment in real time.
Artificial Intelligence: ChatGPT Causes A Furore In The Academic World
“It’s a new world. Goodbye homework!” That was Elon Musk’s tweeted response to news that some New York-based colleges are planning to ban the use of ChatGPT to complete homework and are concerned about “negative impacts on student learning and concerns regarding the safety and accuracy of content.” As a part of the measure, systems linked to university servers will not open the ChatGPT website.
Alternative Investments/ESG: Subversive Launches Decarbonization ETF
Subversive Capital Advisor launched the Subversive Decarbonization ETF (BATS: DKRB), an actively managed thematic focused exchange traded fund offering access to stocks that are involved in decarbonizing the energy sector. That includes investments in nuclear, wind, solar, and more efficient uses of oil and gas. Additionally, it also includes supporting the underlying decarbonization infrastructure, the technology, and tools necessary to decarbonize the global energy supply chain.
Alternative Investments/ESG: Global X ETFs Australia Launches Low Cost Carbon ETF
Australia’s lowest cost carbon ETF made its debut last month courtesy of Global X ETFs Australia, the Australia-based ETF provider that is a member of Mirae Asset Financial Group. The Global X Global Carbon ETF (GCO2) provides exposure to the price of carbon as driven by the world’s biggest and most developed emission trading schemes. (ESG CLARITY)
Alternative Investments/ESG: Franklin Templeton Launches Sustainable Infra ETF
The ClearBridge Sustainable Infrastructure Exchange-Traded Fund launched by Franklin Templeton seeks to invest in income-generating infrastructure assets with strong environmental, social and governance attributes and stable cash flows. The fund may invest in the physical assets necessary for communities and economies to function and grow, including transportation, electricity, energy infrastructure, water, sewage, communications and renewables.
Artificial Intelligence: New AI Method Predicts “Black Swan” Disasters Without Extensive Data For Training
According to a new study, “Black Swan” disasters including earthquakes, pandemics, and hurricanes may be predicted more easily by using conventional artificial intelligence along with a statistical method known as Bayesian reasoning. This approach does not require extensive historical data to train AI algorithms particularly when such events are very rare.
Artificial Intelligence: Microsoft To Integrate ChatGPT’s Tech Into Bing For “Conversational” Search
Microsoft (NASDAQ: MSFT) is considering the integration of OpenAI’s ChatGPT3 technology into its Bing search engine, a nod to the latter’s rising popularity and potential use for answers to queries in conversational language. That would be a huge change from the Google search engine’s link-based responses to search questions.
Artificial Intelligence: The Lensa AI “Magic Avatars” Are Viral. But Did You Check The Fine Print?
Lensa AI is an image editing app that is four years old but has shot to the top of the download charts after Prisma Labs (the owner of the app) introduced a “magic avatar” feature in November. It is claimed that more than 17 million people have downloaded the app since, and images generated using this feature have repeatedly gone viral. Yet, concerns are already rife about the appropriateness of the images, as well as the terms and conditions that users must agree to.
Alternative Investments/ESG: TrueMark And Eagle Global Launch ETF Focused On Renewable Energy Infrastructure
TrueMark Investments and Eagle Global Advisors have launched the TrueShares Eagle Global Renewable Energy Income ETF (NYSEARCA: RNWZ), an actively managed ETF designed to offer investors core renewables exposure and stable income by investing in renewables infrastructure companies.