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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Artificial Intelligence: AI To Help Assess Damage To The Great Barrier Reef
Artificial intelligence will help to determine the health of more than 300 reefs from more than 52,000 photographs taken by “citizen scientists” recruited by the conservation group Citizens of the Great Barrier Reef. Snorkellers and recreational divers joined in a movement to capture a snapshot of the health of the Great Barrier Reef. These citizen scientists were then requested to help identify in the pictures problem areas of the Reef such as bleaching that needed restoration effort.
Venture Capital: Celonis, Which Makes Software To Fix Processes, Raises $1B
Celonis, a software startup located in Munich and New York, raised an additional $1 billion in funding. A raise of $400 million, which was an extension of the Series D round, was led by the Qatar Investment Authority (QIA) and includes new blue-chip investors Activant Capital, a fund advised by Neuberger Berman, Alta Park Capital and Commonfund Capital.
Alternative Investments/ESG: Mirae Asset Debuts Green Bond ETF In Hong Kong
The Global X Bloomberg MSCI Asia Ex Japan Green Bond ETF, launched by Mirae Asset Global Investments, provides investors an opportunity to invest in investment grade, USD denominated green bonds from issuers located in Asia, but excluding Japan. The fund commenced trading on the Hong Kong Exchange on Friday. The fund has the distinction of being the world’s first ETF to provide access to green bonds of the Asia (Ex Japan) region. It is also Mirae’s first fixed income ETF.
Alternative Investments/ESG: Inspire Advances The Biblically Responsible Investing (BRI) Movement With New ETF
Inspire Investing, which is the world’s largest provider of biblically responsible ETFs, has launched the Inspire Fidelis Multi-Factor ETF, a faith-based fund comprised of 100 high-quality, biblically aligned companies seeking growth and momentum purchased at a reasonable price.
Alternative Investments/ESG: Strive, Which Scooped $250M On The DRLL Anti-ESG ETF, To Launch Four New ETFs
Strive Asset Management, which is backed by investors including Peter Thiel and Bill Ackman, has filed for four new ETFs on Tuesday. The firm has likely been encouraged by the success of its flagship US Energy ETF (NYSEARCA: DRLL) which has exceeded $238 million in assets under management and over $320 million in traded volume in its first two full weeks of launch.
Artificial Intelligence: The Lund AI Algorithm Can Analyze DNA From Human Remains To Establish Their Age
Researchers led by Lund University in Sweden have developed an AI algorithm that analyzes the DNA in human remains to date their age. The method is far superior to radiocarbon dating, which is widely used to estimate the age of carbon-based stuff up to 50,000 years old. The latter method is not always accurate, and also depends upon the quality and quantity of the material available for age testing.
Digital Assets: Metro Stations In China’s Ningbo City Now Accept The Digital Yuan
An official release from Ningbo Rail Transit announced that all 125 of its metro stations will accept the country’s digital yuan in payment via the subway systems dedicated app. The move is in furtherance of the stated objective of the Chinese central bank to expand adoption of the Chinese digital currency.
Venture Capital: Indian Venture Debt Firm Alteria Capital To Raise $438M For Third Debt Fund
Internal documents reviewed by Reuters have revealed that Alteria Capital Advisors is in discussions with investors to raise up to 35 billion rupees ($438 million) for its third debt fund. The funding, according to a pitch deck, will have a dual structure comprising a primary debt fund and a secondary pool that will be deployed as working capital finance for startups.
Artificial Intelligence: Capitol Records Dumps AI Rapper FN Meka, Apologizes To Black Community
Famed record label Capitol Records, which signed AI-generated, virtual rapper artist FN Meka earlier this month, has walked away from the contract citing unintended and overlooked racial overtones and the AI character’s “gross stereotypes” of the Black community.
FinTech: Square Eyes UK BNPL Market With Clearpay Integration
Square has leveraged its acquisition of fintech Clearpay by integrating the latter’s BNPL functionality in all its platforms at the same time, including in-store, online, and integration by Square’s developers and partners. Square sellers in the UK can now offer a pay-later solution that allows their customers to pay for their purchases in four interest-free instalments over six weeks. Merchants, however, get paid right away.
Alternative Investments/Digital: Invesco Launches Metaverse Fund
Invesco, the global asset management firm, is launching the Invesco Metaverse Fund, to be registered in Luxembourg, and having a size of about $ 30 million. It will invest in large, medium, and small cap companies across the Metaverse Value Chain which includes many distinct and interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds.
Artificial Intelligence: Developer AI Platform Inworld Raises $50M For AI Driven Virtual Characters
Inworld is a developer platform for creating AI-driven virtual characters for gaming, metaverse, and business applications. It was founded by conversational AI pioneers Ilya Gelfenbeyn, Michael Ermolenko, and Kylan Gibbs to enhance the social interactions in the immersive worlds of gaming, metaverses, entertainment, and brand experiences.
FinTech: Saudi-Based BNPL Firm Tamara Scores $100M Round
A report by Reuters says Tamara, a Saudi-based BNPL fintech, raised $100 million in a Series B round. Investors included Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF. “We believe the region has a different situation today than globally. The region is thriving with high oil prices,” Chief Executive Abdulmajeed Alsukhan told Reuters. “We want to make sure our customers find the right products that suit them and find amazing deals.”
Artificial Intelligence: Smart Cyber Lawnmower Is Crowdfunding
Kickstarter features a crowdfunding campaign for Lawna, a robotic lawn mower that uses visual AI to map out its virtual mowing territory, and does away with the perimeter wire. The futuristic lawn mower is every bit as smart as it looks, and is operable with a smartphone app.
Digital Assets: This Dangerous New Crypto Scam Is Called “Pig Butchering”
A new scam is making the rounds, and the criminals typically locate and home in on their victims using social media or dating portals such as Tinder and LinkedIn. After establishing contact, they develop an ongoing relationship with the victim, gradually leading to trust. This could easily be a romance-cum-investment scam unfurling over weeks, even months, a period that could be described as a grooming period.
FinTech: Indian Savings App Jar Lands $22.6M Series B At A $300M Valuation
Jar, an Indian fintech app that wants to “reintroduce this generation to the concept of piggy banks by helping them save in digital gold,” has raised $22.6 million in its Series B round, led by existing investor Tiger Global. Existing investors Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital and WEH Ventures also participated in the funding. New investors included 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures and others.
Digital Assets: Ethereum Merge Could Boost CoinBase’s Bottom Line By $80 – $100M (JPMorgan)
Coinbase (NASDAQ: COIN) is likely to benefit substantially from the Ethereum Merge, according to JPMorgan analyst Kenneth B Worthington. In a note to clients, Worthington estimated that Coinbase likely accounted for a 15% share of Ethereum assets, and that recent steps it took “to maximize the value of Eth staking for its clients” would help to bolster its own revenues.
Venture Capital/Digital: Shima Capital Launches $200M Fund For Early-Stage Blockchain Startups
The debut fund, Shima Capital Fund I , received funding from investors including Dragonfly Capital, Bill Ackman, Animoca, OKex, Mirana Ventures, Republic, and Andrew Yang, among others.
FinTech: eToro To Acquire Options Trading Platform Gatsby For $50M
Social investment network eToro has signed a definitive agreement to acquire options trading platform Gatsby for $50 million. Founded by Co-CEOs and Co-founders Jeff Myers and Ryan Belanger-Saleh in 2018, Gatsby aims for a clientele among younger US investors.
Artificial Intelligence: Virtual, AI-Powered Rapper Signs Record Deal With Capitol Records
FN Meka, a virtual rapper, much like a gaming character, has an Instagram page, millions of followers, and more than a billion views on TikTok. Meka now has the added distinction of having released a single after signing with the famous Capitol Records label.
Artificial Intelligence: AI Enables Dead UK Woman To Address Mourners At Her Own Funeral
Marina Smith MBE, a Holocaust survivor from Nottingham, England, expired in June 2022, appeared at her own funeral as a hologram, looking realistically alive. What’s more, she was even able to talk to her beloved mourners using the AI-powered ‘holographic’ video tool. (AnalyticsIndiaMag)
Alternative Investments/ESG: Vanguard Files For Global Environmental Opportunities Stock Fund
Vanguard has revealed its plans to launch the Vanguard Global Environmental Opportunities Stock Fund, to be actively managed by Ninety One, an experienced active investment manager with a proven track record in environmental, decarbonization, and global investing. Founded in 1991, Ninety One manages approximately $160 billion globally.
Alternative Investments/Fintech: BlackRock Launches Another ‘Megatrend’ ETF Focused On Disruptive Fintech
BlackRock (NYSE: BLK) announced the expansion of its Megatrends suite with the launch of the BlackRock Future Financial and Technology ETF (NYSEARCA: BPAY), an ETF that invests in companies delivering innovative and emerging technologies that are driving disruption within the financial services industry. The actively managed fund will be run by Lead Portfolio Manager Vasco Moreno of BlackRock’s Fundamental Equity (FE) franchise.
Digital Assets: Ether Options To Debut On CME September 12
Derivatives exchange CME Group (NASDAQ: CME) intends to launch options on its ether future contracts on September 12. The new option contracts are based on one ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether.