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/ESG: FlexShares Launches EM Equities ETF With ESG Focus
Northern Trust’s FlexShares Exchange Traded Funds has introduced a new sustainable and low carbon ETF investing in emerging market (EM) equities. The new ETF, the FlexShares ESG & Climate Emerging Markets Core Index Fund (FEEM), is an expansion of FlexShares’ bouquet of climate-friendly ETFs launched in September and including U.S. large cap equities, developed markets ex-U.S. equities, and two fixed-income ETFs.
Venture Capital/ESG: Upside Foods Scores $400M For Producing Cultivated Meat At Scale
Upside Foods, the first cultivated meat company in the world founded in 2015 and now approaching commercialization, has raised $400 million in a Series C round co-led by Temasek and the Abu Dhabi Growth Fund (ADG) and joined by major food and ingredient companies Cargill, Givaudan, and Tyson Foods, individual investors Bill Gates, John Doerr, Kimbal and Christiana Musk, and a range of other reputable financial and institutional investors.
Artificial Intelligence: Philips And Sembly AI Offer High-Tech Instant Meeting Transcripts
Speech Processing Solutions, a Philips (AMS: PHIA) brand, and Sembly AI have joined up to launch a technology solution that enables instant searchable meeting transcripts, highlights key discussion moments, and creates summaries. The solution utilizes powerful microphones and smart meeting technology that together guarantee 360° recording, whilst capturing each speaker in the room and ensuring crisp, clear audio. One variant includes an intelligent camera that can be set to automatically recognize meeting participants individually and focus accordingly.
Venture Capital/ESG: XPRIZE And Musk Foundation Hand Out $15M To Carbon Removal Teams
In celebration of Earth Day, XPRIZE and Musk Foundation awarded $1 million each as a milestone prize to 15 teams in the $100M XPRIZE Carbon Removal competition in recognition of their efforts to date and support their continued work to scale solutions.
FinTech: Mastercard And Microsoft Partner To Make Online Shopping Safer
Mastercard (NYSE: MA) is taking aim at digital fraud in online shopping by enhancing its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities. Microsoft’s (NASDAQ: MSFT) Dynamics 365 Fraud Protection’s proprietary risk assessment, which leverages adaptive AI to assist in real-time fraud detection by identifying risky behaviors across purchase, account and in-store activities, has been integrated with Mastercard’s Digital Transaction Insights.
Digital Assets: Grayscale’s New Missive To The SEC
Grayscale Investment’s lawyers have shot off another letter to the SEC making their case for approval to convert GBTC to a spot bitcoin ETF. Grayscale Investments, the world’s largest manager of digital assets, has made yet another effort to get the SEC to approve its application to convert the Grayscale Bitcoin Trust (GBTC) into a…
Artificial Intelligence: Autonomous Driving Company Pony.ai Nabs Chinese Taxi License
Pony.ai becomes the first and only autonomous driving company to be awarded a taxi license in China. According to the announcement, Pony.ai can now operate 100 self-driving taxis within the entire 800 sq Kms of the city of Nansha, Guangzhou, with standard taxi pricing, and within designated operating hours.
Venture Capital: The Boring Company, Elon Musk’s Tunnelling Startup, Raises $675M
The Boring Company (TBC), founded by Elon Musk to revolutionize traffic by taking it underground through a network of tunnels, has raised a $675 million Series C round at a valuation of $5.675 billion. The massive round was led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. Also chipping in were real estate stalwarts including Brookfield, Lennar, Tishman Speyer, and Dacra.
Digital Assets: Algorand Launches Self-Sustaining Smart Contract To Automate Carbon Offsets
Algorand, the blockchain network that was designed from the ground up to be energy-efficient, will implement the first smart contract to automate the offsetting of carbon emissions. The smart contract automatically allocates a portion of every transaction fee to offset its carbon emissions.
FinTech: Stripe And Twitter To Test Crypto Payouts
Stripe said in a blog post today that it had been exploring crypto-currency based platforms to facilitate payouts to creators, freelancers, sellers, and solopreneurs across the world. The “open-access global financial rails” offered by cryptocurrencies was highly attractive to Stripe given that the Connect service could not still reach many countries due to hetereogenous local payment systems. In a pilot, Stripe is testing crypto payouts for Connect via a select group of creators on Twitter (NYSE: TWTR), its first partner.
Alternative Investments/Digital: Fractional Investment In $500M Hedge Fund Through NFTs
Blockchain startup IO Investment Academy is giving investors the opportunity to invest small amounts in a $500 million, blockchain-focused hedge fund that delivered a 300% return rate in 2021 and had an investment minimium starting at $100,000. This first DeFi NFT project is introducing fractional investment into the blockchain world to completely rewrite the traditional investing process.
Artificial Intelligence: Pentagon Applying AI To Analyze Ukraine Warfare
Satellite imagery combined with AI is helping the Pentagon to get a ringside view of the Russia-Ukraine war through the analysis of vast amounts of data to generate valuable battlefield intelligence. The system also enables the DoD to glean useful insights into Russian warfare strategy and tactics.
FinTech: Card Issuing Platform Marqeta Launches End-to-End RiskControl Solution
Global card issuing platform Marqeta (NASDAQ: MQ) has announced RiskControl, a suite of products designed to provide comprehensive, end-to-end risk management to the company’s card issuing customers. Klarna, Yonder and Branch are Marqeta customers that have already commenced using RiskControl and its components – KYC, Real-Time Decisioning, 3D Secure, and Disputes.
Digital Assets: In Maryland, You Can Now Pay For Your Porsche With Crypto
Bitpay, the US provider of bitcoin payment services, tweeted its announcement that Porsche Towson, a Porsche dealer serving the Baltimore area in Maryland, US, has started accepting payments for their cars using cryptocurrencies, including Bitcoin and Ethereum.
Alternative Investments/ESG: New Japanese ESG Equity ETF Gets EUR 300M From Varma
Finnish pension insurance company Varma has invested EUR 300 million in the NEXT FUNDS Solactive Japan ESG Core Index ETF that was listed on the Tokyo Stock Exchange on April 8. The ETF, custom-designed for Varma, is the largest ever environmentally responsible ETF to be listed in Japan.
Venture Capital: AWS Launches $30M Accelerator Fund For Underrepresented Entrepreneurs
Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), has earmarked a spend of $30 million over three years to support early-stage startups led by Black, Latino, LGBTQIA+, and women founders. The AWS Impact Accelerator will invest up to $225,000 in the form of combined cash and credits, and provide training, mentoring, and technical guidance, as well as introductions to Amazon leaders and teams, networking opportunities with investors, and advisory support.
Artificial Intelligence: Investment And Acquisition In AI
In AI deal-making news, Gupshup, India’s San Francisco -headquartered conversational AI platform made yet another acquisition. It acquired AskSid, a conversational artificial intelligence (AI) provider for eCommerce and retail brands, for an undisclosed amount. Separately, space solutions provider Maxar Technologies made a strategic investment in Blackshark.ai, an AI-powered geospatial analytics services specialist.
Digital Assets: Bitcoin Mining And ‘Cryptoization’ Pose Risks To Sanctions And Global Finance (IMF)
In its Global Financial Stability Report for April 2022 the IMF has warned of the threats that ‘cryptoization’ could pose to the global financial system if crypto trading surged in emerging markets and countries such as Russia and Iran used their trapped energy to mine cryptos and undermine sanctions.
FinTech: Brex Acquires Pry Financials For $90M
Brex, a startup focusing on startups, has acquired Pry Financials, a financial planning platform that replaces Excel for founders, helping them plan and manage budgets, create hiring plans, build financial models, predict cash runway, and more, for $90 million.
Venture Capital: Air Company, Which Makes Carbon-Negative Vodka From Air, Scores $30M Raise
In 2019, carbon technology startup Air Company launched Air Vodka, the world’s first alcoholic beverage made directly from carbon dioxide. The company announced Tuesday its Series A funding of $30 million led by Carbon Direct Capital Management with participation from Toyota Ventures, JetBlue Technology Ventures, and Parley for the Oceans.
Artificial Intelligence: Deals In Video Analytics, Tactical Decisionmaking
Here are two interesting deals in AI – one, in tactical decisionmaking, the other in AI-assisted video surveillance. Booz Allen invests in Reveal Technology; Motorola acquires Calipsa
Digital Assets/Alternative Investments: Australia’s First Bitcoin ETF May Debut Next Week
A bitcoin ETF could debut Down Under following its approval by ASX Clear, the country’s primary clearing house for capital markets. Four market participants (one retail, four institutional) agreed to stump up the hefty 42% margin required for settlement risks. A seven-day notice period now kicks in, and at the end of that, the bitcoin ETF from Cosmos Asset Management could begin trading as early as April 27 on Cboe’s Australian trading venue.
FinTech: Robinhood Acquires UK-Based Crypto Assets Firm Ziglu
Ziglu, a U.K.-based electronic money institution and cryptoasset firm, allows customers to buy and sell eleven cryptocurrencies, pay using a debit card, and remit money abroad without fees. Robinhood (NASDAQ: HOOD), itself a major cryptocurrency-friendly stock trading app, has acquired Ziglu for an undisclosed sum with the objective of expanding its crypto business internationally, particularly UK and Europe.