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: SAP-Owned Taulia And Standard Chartered To Collaborate On Working Capital Finance Solutions
Taulia, a provider of working capital solutions, and Standard Chartered announced a Memorandum of Understanding to jointly advance working capital management solutions and strengthen financial supply chains. Taulia was acquired in January this year by SAP (NYSE: SAP) in a move aimed at giving companies better access to liquidity and improving their cash flows.
FinTech: Klarna Trims Workforce…Again
Klarna’s chief operating officer, Camilla Giesecke, sent a live video message to employees on Monday afternoon, announcing that the company would be implementing additional layoffs. The message went out to about 500 employees in three departments, and justified the action on “the more focused nature of today’s Klarna.”
FinTech: Metoda Finance And Mambu Join To Offer Banking Solutions That Are Regulation Compliant In Italy
Global cloud banking and SaaS platform Mambu and Metoda Finance, an Italian provider of compliance and financial services have teamed to offer a suite of Italian regulation-driven banking technology solutions, integrated with Mambu’s SaaS banking platform.
Venture Capital: Rivus Pharma Lands $132M For Obesity and Cardio-Metabolic Drug
Rivus Pharmaceuticals Inc announced its $132 million Series B financing that would advance obesity drug HU6, its lead candidate, and a first-in-class Controlled Metabolic Accelerator (CMA) for cardio-metabolic disease, as well as obesity, the primary driver of the disease.
Digital Assets: Nasdaq Launches Institutions-Focused Digital Assets Business
With a view to driving broader institutional adoption of digital assets, NASDAQ has launched a new digital assets business titled Nasdaq Digital Assets to provide a proprietary custody solution with liquidity and execution services for financial institutions.
Alternative Investments/ESG: Sprott Files For An Energy Transition Materials ETF
Sprott Funds filed Tuesday to launch the Sprott Energy Transition Materials ETF, an ETF that would invest in securities of companies engaged in activities relating to energy transition materials.
Alternative Investments/ESG: A New ETF From iShares Targets Water Sustainability
The iShares MSCI Water Management Multisector ETF (NASDAQ: IWTR), a new ETF from iShares launched on Thursday, focuses on water sustainability and invests across the globe given that 41% of the world is in areas facing high or very high levels of water shortage.
Alternative Investments/ESG: Norwegian Sovereign Wealth Fund Norges Bank Places Nine More Companies on ESG Blacklist
Norges Bank is Norway’s central bank and also manages its $ 1.2 trillion Government Pension Fund Global. As a part of its governance procedures, the pension funds Council on Ethics periodically reviews the portfolio to identify companies that would qualify for exclusion under its strict climate guidelines. Based on recommendations from this council, Norges Bank has placed another nine companies on its exclusion list for investment.
Artificial Intelligence: Indian Engineer Duo Builds AI-Powered ‘Smart’ Jacket Made of Graphene
Khushboo Patel, an engineering graduate from Surat and Neel Panchal, co-founder of graphene manufacturing startup LHP Nanotechnologies have got together to develop a jacket made of graphene for the Indian Armed Forces that would keep soldiers warm and comfortable even in the harshest of climate.
Digital Assets: Japan’s Nomura Holdings Incorporates Digital Assets Subsidiary In Switzerland
Nomura Holdings (TYO: 8604), the Japanese investment banking behemoth, has incorporated Laser Digital Holdings AG in Switzerland for its new digital assets business, Laser Digital. Laser will focus on the three core businesses of Secondary Trading, Venture Capital and Investor Products.
Venture Capital: Pie, Which Specializes In Workers Compensation Insurance, Raises $315M
Pie Insurance, a small business-focused insurtech, raised a $ 315 million series D round led by Centerbridge Partners and Allianz X, the digital investments arm of Allianz Group. White Mountains Insurance Group participated as a new investor, while Gallatin Point Capital, Greycroft, Acrew Capital and others were repeat investors.
Alternative Investments/ESG: The New Carbon Collective Climate Solutions US Equity ETF
The Carbon Collective Climate Solutions U.S. Equity ETF (NASDAQ: CCSO) from Carbon Collective Investing invests in about 200 companies in sectors such as clean energy, electrified transportation, efficient buildings, circular economy, sustainable food, and industrial electrification. The companies maybe of any market capitalisation but must be dedicated to solving climate change.
FinTech: Cannabis Wholesale Platform Leaflink Clocks Over $1B In Payments Transactions
Leaflink, a wholesale platform for the cannabis industry that offers payment solutions, announced Wednesday that it had processed over $1 billion in transactions since the company’s inception to date across 1700 active operators and 22 markets.
Artificial Intelligence: Whale Safe, An AI-Enabled System, Warns Ships To Slow Down
The Marine Mammal Center and The Benioff Ocean Science Laboratory have announced a collaboration to bring Whale Safe, a technology-based mapping and analysis system to help prevent whale-ship collisions in the San Francisco Bay Area region.
Artificial Intelligence: Kroger Launches AI-Enabled Self Checkouts
The Kroger Co (NYSE: KR), America’s biggest grocery retailer, is implementing a self-checkout solution developed using Everseen’s Visual AI. This technology leverages high-resolution cameras and a combination of computer vision and AI capabilities developed on Nvidia’s (NASDAQ: NVDA) Accelerated Computing AI Platform.
Artificial Intelligence: AI To Prevent Endangered Eagle Species From Flying Into German Wind Turbines
Only about 130 breeding pairs of the lesser spotted eagle are known to be surviving. This species of eagle is known to ride thermal currents that prevail over past German flatlands that will soon see vast wind farms in the country’s rush to replace increasingly doubtful supplies of Russian gas, coal-based power and nuclear energy.
Liquid Alternatives: Purpose Launches Cash Management Fund
Canadian fund manager Purpose Investments Inc has launched the Purpose Cash Management Fund on the Toronto Stock Exchange. The yields on the fund investments are expected to rise in tandem with the rate hikes to be implemented by the Bank of Canada in its effort to tame inflation.
Alternative Investments/ESG: Strive Takes On US Corporate Boards Via New ETF
Strive Asset Management has launched the Strive ETF 500 (NYSE: STRV), a fund that provides diversified large-cap exposure to established U.S. corporations and mandates the fund manager to engage with corporates on behalf of investors.
Artificial Intelligence: BMW And Other Funding Rounds Of Note
Here are interesting funding rounds in the AI space, ranging from the BMW-led $10 million funding in an optical AI company, to the similar amount invested in a Slovenia-based insect monitoring, and forecasting platform.
Digital Assets: Lumos Digital Mining Flags Off Solar-Powered Mining Of Bitcoin Down Under
Lumos Digital Mining has inaugurated its solar powered 5 MW bitcoin data mining centre in the steel city of Whyalla, South Australia. It will be operated for the mining of bitcoins, a process which requires extensive competition of power to solve complex mathematics problems. Crypto mining has been roundly criticised in recent times for its rapacious use of energy, said to exceed annually the consumption of a medium-sized nation such as Argentina.
FinTech: U.S-based Kenyan Fintech WayaPay Launches Digital Bank And App In The US
WayaPay, which has been co-founded by Dr. David Wachira and Hempstone Maroria, both Kenyans living outside of their home country, secured all the necessary regulatory approval in the U.S. for the bank and app. The WayaPay app users can open digital accounts, send money go other Waya users without charges, spend on the cards linked to their Waya account, and make foreign remittances to more than 10 countries in Africa to recipients’ mobile wallets and bank accounts.
Artificial Intelligence: Rekor Debuts New Non-Intrusive AI-Driven Traffic Data Collection System
Rekor, (NASDAQ: REKR) which uses AI, machine learning and data to support roadway safety and smart mobility, unveiled its new edge-based, non-intrusive, AI-driven traffic data collection system designed and developed to collect and transform high-speed roadway data.
Artificial Intelligence: Japanese Companies Retail AI And Toshiba Partner To Revamp The Shopping Experience
Japanese companies Retail AI and Toshiba Tec (TYO: 6588) have partnered on a project to integrate Retail AI’s Smart Shopping Cart with Toshiba’s ELERA, a unified cloud commerce platform and suite of solutions that enables retailers to remove boundaries between physical and digital stores.
FinTech: Travel Technology Company Amadeus Joins With Uplift To Offer BNPL For Travel
Uplift, a provider of Buy Now Pay Later (BNPL) solutions to enterprises, is joining hands with Amadeus, a leading travel technology provider, for bringing BNPL services to customers in the US and Canada via the Amadeus Xchange Payment Platform (XPP). Amadeus XPP helps travel companies access the latest fintech innovations to improve the payment experience for travelers.