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: An Advanced AI-Enabled Virtual Assistant Referee Will Detect Offsides At The World Cup 2022
At the FIFA World Cup 2022™ in Qatar starting on 21 November, FIFA will use a semi-automated offside technology to assist video match and on-field officials in making more accurate and quicker offside decisions.
Venture Capital: Volvo’s Venture Arm Invests In Optibus, Which Optimizes Public Transportation
Volvo Group Venture Capital AB, the corporate venture arm of the Volvo Group (STO: VOLV-B), has invested an undisclosed amount in Optibus Ltd, a software platform for making transportation more efficient and sustainable. The investment is expected to accelerate the digitalization and electrification of the global public transportation sector, given that the Optibus platform is used in 1,000 cities in 26 countries globally.
Digital Assets: Atlantic Equities Downgrades Coinbase Citing “Misinformation” Around the Company
Simon Cinch, an analyst at Atlantic Equities, has downgraded Coinbase (NASDAQ: COIN) to Neutral from Overweight, and flagged a potential downside of another 37% to the stock price, or $35 per share. Coinbase is currently trading at $52.62 per share. The analyst cited a slew of concerns for the downgrade, chiefly market developments that would possibly severely impact Coinbase’s revenue.
Liquid Alternatives: “A Diverse Range Of Strategies That Can Zig When The Market Zags”
Lukas Strobl, editorial manager for EMEA at Morningstar, interviews Francesco Paganelli. The topic: Liquid alternatives as a “hedge fund-lite” kind of strategy.
Artificial Intelligence: Diabetes Can Be Identified By AI Through Analysis Of Retinal Images
An eye doctor is likely to be the first person to detect diabetes, if only coincidentally, when they find evidence of diabetic retinopathy, a common complication arising from diabetes. However, by the time this is detected, it means the patient has suffered the disease for a long time, and is likely to have other complications such as periodontal disease and foot-and-ankle disease. AI technology goes a step ahead, however. It is even able to detect diabetes from retinas that appear healthy.
Digital Assets: After Liquidation Order In The British Virgin Islands, Three Arrows Files For US Bankruptcy
On Friday, according to a CNBC report, troubled crypto hedge fund Three Arrows Capital (3AC) applied for protection from creditors by filing for bankruptcy in the US under Chapter 15 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the Southern District of New York on Friday.
Alternative Investments/ESG: Franklin Templeton Launches ETF Focused On Emerging Market Debt, Catholic Principles, And Sustainability
Franklin Templeton has launched the Catholic Principles Emerging Markets Sovereign Debt Ucits ETF. It will invest in both euro and dollar denominated sovereign debt issued by emerging market countries, but with an emphasis on Catholic principles and values. The ETF listed on the Deutsche Boerse, the Borsa Italiana, and the London Stock Exchange.
Artificial Intelligence/ESG: Invesco Launches Corporate Bond ESG Multi-Factor ETFs In Europe
Two new ETFs from Invesco that allow investors exposure to corporate bonds across a range of maturities have been listed on the Deutsche Börse Xetra. The actively managed ETFs will invest in bonds that pass ESG criteria and selected using a multi-factor approach.
Artificial Intelligence: Siemens And NVIDIA To Jointly Create “Industrial Metaverse” Using AI
Siemens (ETR: SIE) launched its Xcelerator business platform in Munich last month. The platform includes internet-of-things -enabled hardware, software and digital services from across Siemens that offer a comprehensive digital twin that can bring together the mechanical, electrical and software domains. At the launch, Siemens CEO Roland Busch and NVIDIA (NASDAQ: NVDA) Founder and CEO Jensen Huang proposed the creation of an “industrial metaverse” by combining the Siemens Xcelerator and NVIDIA Omniverse platforms.
FinTech: Klarna’s Valuation Plunges To $6.5B In Talks To Raise $650M (WSJ)
Klarna, the Swedish fintech known for its buy-now-pay-later (BNPL) financial product, is negotiating to raise $650 million at a valuation of $6.5 billion, which is a very sharp comedown from the $45.6 billion tag in a June 2021 funding round led by SoftBank Group.
Venture Capital: OppZo, Which Funds Small Businesses Having Government Contracts, Raises $260M
Fintech OppZo brings together investors and small businesses that need working capital loans for their government-facing businesses. Typically located in economically stressed areas of the country, these businesses represent an opportunity for investors to also earn a tax benefit by investing in such Opportunity Zones. OppZo raised $260 million in a round led by Arcadia Funds.
Alternative Investments/Digital: Jacobi To Launch Europe’s First Bitcoin ETF This Month
The Jacobi Bitcoin ETF, from Jacobi Asset Management, will have a number of firsts to its credit when it starts trading this month. It will be the first exchange-traded equity instrument for institutional investors to access Bitcoin in Europe, and it will trade on Euronext Amsterdam, the largest exchange to list a bitcoin spot ETF globally. Trading under the ticker symbol BCOIN, the ETF charges an annual management fee of 1.5%.
Artificial Intelligence: John Deere’s Advances in AI Powered Agriculture Machinery
John Deere (NYSE: DE) has achieved leadership in automated machinery powered by Artificial Intelligence (AI). The self-driving tractor pictured above was revealed in CES 2022 and has six pairs of stereo cameras. Images captured by the cameras are passed through a deep neural network that monitors the path ahead and stops the tractor if it senses an obstacle. The autonomous tractor also functions within an inch of its preset working boundary.
Digital Assets: Grayscale Protests SEC Rejection Of Spot Bitcoin ETF, Files Suit Against Regulator
Grayscale Investments, the largest digital asset manager globally, has filed a suit against the SEC for rejecting its application to convert the Grayscale Bitcoin Trust into a spot bitcoin ETF. Donald B Verrilli Jr., former U.S. Solicitor General, and a top lawyer for the Obama administration, whom Grayscale hired early this month, filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit.
Venture Capital/ESG: Twelve Raises $130M For World’s First Carbon Transformation Platform
Twelve has raised a $130 million Series B round to scale up its carbon transformation technology that converts captured CO2 into products traditionally made from fossil fuels. The firm’s technology has already been demonstrated successfully in the commercial production of a line of CO2Made sunglasses with sustainable fashion brand PANGAIA and carbon-neutral sustainable aviation fuel (SAF), E-Jet.
FinTech: Sam Bankman-Fried Of FTX Rejects Rumors He Is Acquiring Robinhood
FTX, the crypto platform owned by billionaire Sam Bankman-Fried, has scotched media reports that it was pursuing a deal to acquire commission-free trading app Robinhood (NASDAQ: HOOD). Bloomberg said Monday that FTX was exploring whether it might be able to acquire Robinhood, quoting people with knowledge of the matter.
Alternative Investments/Digital: Amidst A Crypto Winter, 21Shares Launches The World’s Cheapest Physically Backed Bitcoin ETP
21Shares AG has launched a bitcoin ETP tailor-made for today’s crypto market, one that has been mauled by rampaging bears and gripped by a “crypto winter.” The 21Shares Bitcoin Core ETP (CBTC), which started trading on the SIX Swiss Exchange effective Wednesday, is claimed to be the lowest cost physically-backed Bitcoin ETP in the world.
Artificial Intelligence: Merck Launches Biotech Accelerator Focused On AI/ML Startups
Pharma giant Merck (NYSE: MRK) has launched the Merck Digital Sciences Studio (MDSS), a biotech accelerator that will back AI and ML-focused startups developing innovative technologies for drug discovery and development. The 10-month program has been designed in collaboration with the New Jersey Innovation Institute.
Venture Capital: Entrepreneur First Raises $158M From Crème de la Crème Of Tech, Including Stripe Founders
Entrepreneur First, the UK-based VC firm run like a startup, has raised a $158 million Series C round at a valuation of $560 million. Known for its unorthodox (but highly successful) approach to selecting founders to back, Entrepreneur First’s portfolio covering over 500 companies has already generated over $10 billion in value.
FinTech: PayPal Launches A Cashback Credit Card For Small Businesses
PayPal (NASDAQ: PYPL) has added yet another credit product geared towards making small businesses’ financial lives easier. The company has launched the PayPal Business Cashback Mastercard, its very first business credit card, said to be a simple way for businesses to pay for both everyday business expenses and those that may unexpectedly arise, while also earning cashback rewards on all purchases.
Alternative Investments/ESG: Chimera Capital Launches Shariah Compliant, US Equity ETFs On Abu Dhabi Exchange
Investors looking for an exposure to US equities that is also compliant with Shariah laws can now invest in two ETFs to be listed on the Abu Dhabi Exchange with a focus on value and growth respectively. These new funds, which are physical, in-kind, liquid and fully fungible, will offer investors direct access to the US stock markets.
Digital Assets: High Profile Casualty Of The Crypto Meltdown – Hedge Fund Three Arrows In Liquidation
A report by Sky News claims that crypto hedge fund Three Arrows Capital (3AC) has been forced into liquidation as a result of a court order in the British Virgin Islands. The report said that global consulting firm Teneo has been entrusted with the insolvency process of 3AC.
Alternative Investments/ESG: A New ETF From Xtrackers Combines US Stocks With The Global Transition To Net Zero
Asset manager DWS has launched a new ETF that puts US equity investors on the Net Zero Pathway. The Xtrackers Net Zero Pathway Paris Aligned U.S. Equity ETF (NYSE Ticker: USNZ) listed on Tuesday and provides investors with twin exposures – US stocks as well as to a unique Paris Aligned Benchmark (PAB) index that uses a transparent set of rules that aim to be at the cutting edge of sustainable investment practices.
Artificial Intelligence: AI Detects Distress Calls From Chickens
Artificial intelligence (AI) can now distinguish between the squawks of healthy chickens and the distress calls of a bird that is unwell or injured. With thousands of fowl present on a poultry farm, this technology enables quicker attention to one or more troubled birds. In the future, the technology could be extended to other animals being reared on farms.