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: Apple Wants A Bigger Slice Of The Fintech Pie
Bloomberg reported Wednesday on Apple’s (NASDAQ: AAPL) plans to bring more financial services in-house including developing their technology and infrastructure. An ambitious, multi-year plan would bring a number of future, fintech-like functionalities under Apple’s own roof such as payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer-service functions such as the handling of disputes.
Digital Assets: Bitcoin Could Hit $4.8M, Gold $31K, If Central Banks Diversify Reserves Out of Hard Currencies (VanEck)
The US/Eurozone/Japan have gone “nuclear” in their economic war against Russia for its Ukraine aggression. Concerted and global sanctions on the Russian central bank have essentially wiped Russia’s dollar, euro, and yen reserves, and that’s the new money paradigm, according to an analysis by VanEck.
Venture Capital: Blockchain.com Raises Unspecified Amount, Clocks Massive $14B Valuation
A Bloomberg report Thursday said Blockchain.com, a cryptocurrency exchange and financial services firm, had raised new finance at a valuation north of $14 billion, more than double its previous worth, in a round led by Lightspeed Venture Partners with major participation from Baillie Gifford & Co.
Artificial Intelligence: Venture Funding News In AI
Three different funding rounds that made recent AI news. Venture capitalists continue to pour money into AI startups, from enterprise-grade machine learning from Black Crow to dental diagnostics at VideaHealth.
Digital Assets: Bengal Energy Will Mine Crypto From Stranded Gas Using Rigs Installed In Portable ‘Dongas’
“Stranded” gas, or gas that cannot reach a distribution pipeline, must necessarily be flared off by energy companies. This is a huge waste of energy that is extremely harmful for the environment. Bengal Energy (TSX: BNG) plans to use the gas to generate energy that will drive crypto mining rigs housed inside makeshift, portable housing located close to the gas source. A win-win situation, because it generates revenue from the sale of the crypto, and avoids wastage of gas and pollution.
Venture Capital: Chief, A Private Network For Women Executives, Raises $100M
Chief, a membership network focused on connecting and supporting women executive leaders, has raised a $100 million Series B round led by CapitalG, the independent growth fund of Google parent company Alphabet (NASDAQ: GOOGL). Previous investors General Catalyst, GGV Capital, Inspired Capital, Primary Venture Partners, Flybridge Capital Partners, and BoxGroup also participated.
Alternative Investments/ESG: Avantis Debuts A Trio Of Sustainable ETFs
Avantis Investors, an American Century offering that combines the latest financial science with common sense investing principles and cost-effective implementation, has launched its first three environmental, social and governance (ESG) ETFs: Avantis Responsible U.S. Equity ETF (NYSEARCA: AVSU); Avantis Responsible International Equity ETF (NYSEARCA: AVSD); and Avantis Responsible Emerging Markets Equity ETF (NYSEARCA: AVSE).
Alternative Investments/ESG: Mirae Launches Three New Global X ETFs In Hong Kong
Seoul-headquartered Mirae Asset Global Investments has launched three new ETFs in Hong Kong under its Global X banner. The Global X Hang Seng ESG ETF (HKG: 3029), Global X Metaverse Theme Active ETF (HKG: 3006), and Global X Electric Vehicle and Battery Active ETF (HKG: 3139) are listed on the Hong Kong stock exchange.
Artificial Intelligence: South Korean Company KT Launches AI Quarantine Robot
South Korean company KT (NYSE: KT) announced at a media event on March 30 the launch of its new AI-powered, innovative disinfection robot designed for hotels, restaurants, hospitals, welfare facilities and government buildings. The AI Quarantine robot, as it is named, is supported by AI software that operates on a 4G or above network.
Venture Capital: Cross River Bank Raises $620M Financing
Cross River Bank announced today the raise of a $620 million financing led by Eldridge and Andreessen Horowitz, with participation from funds and accounts advised by T. Rowe Price Investment Management, Inc., Whale Rock and Hanaco Ventures. Cross River currently powers lending and payments for over 80 leading technology partners including Affirm, Best Egg, Checkout.com, Coinbase, Divvy, Freedom Financial, Pay.com, Rocket Loans, Stripe, Trustly, Upgrade and Upstart.
Digital Assets: Deep-Pocketed Buyers Including Terra And MicroStrategy Circle Bitcoin
A wallet said to belong to Do Kwon-led Terraform Labs received 2943.00002511 bitcoin ($139 million) on Wednesday, says a report in CoinTelegraph. With the latest purchase, the Terra wallet now has, hold your breath, about 31,000 bitcoin valued approximately $1.417 billion. Meanwhile, MicroStrategy has raised $205 million for buying bitcoin.
Alternative Investments/Digital Assets: Huobi Tech To Launch Crypto ETFs In Hong Kong
Huobi Tech has proposed to launch a crypto-based financial product aimed at retail investors. The ETF plan, placed before Hong Kong regulator Securities and Futures Commission, would be Hong Kong regulated and open to retail investors with less than HK$8 million (US$1 million) in assets.
Artificial Intelligence: Mitsubishi Develops AI Technology That Re-Identifies A Subject On The Move
Mitsubishi Electric Corporation (TYO: 6503) has developed an artificial intelligence (AI) technology that identifies individuals captured with multiple surveillance cameras in one-tenth the time taken by conventional AI by applying a special compression technology that eliminates superfluous data. It therefore is able to deliver very efficient and accurate re-identification, tracking and searching of the subject.
FinTech: New Co-Branded Mastercard From Victoria’s Secret And Bread Financial
Financial services company Bread Financial (NYSE: ADS) flagged off today a co-branded credit card program with Victoria’s Secret, the world’s largest retailer of intimate garments. The two organizations also renewed their three-decade long brand partnership.
Venture Capital: Austin-Based Next Coast Ventures Raises $310M
Next Coast Ventures, the Austin-based venture capital firm, announced the closure of a $310 million raise across three different funds to invest in founders in the “Next Coast” technology hubs. The raise brings the firm’s assets under management to more than $520 million.
Alternative Investments/ESG: BNY Mellon Launches Active ESG Corporate Bond ETF
NY Mellon Investment Management launched the BNY Mellon Responsible Horizons Corporate Bond ETF (RHCB) last week. The actively managed ETF will focus on corporate debt securities issued by companies that demonstrate attractive investment attributes and business practices, based on Prime, a proprietary ESG rating methodology developed by Insight Investment, the sub-advisor to the new ETF. Insight Investment is a BNY Mellon investment firm with AUM of $1.2 trillion.
Digital Assets: Grayscale’s Sonnenshein Prepared To Take Legal Recourse If SEC Nixes GBTC’s ETF Conversion
Grayscale Investments CEO Michael Sonnenshein could escalate his ongoing struggle to get SEC approval for converting the firm’s flagship Bitcoin Trust (GBTC) into an ETF by taking recourse to the courts. In a Bloomberg interview the reporter asked whether Grayscale would consider an APA lawsuit if the SEC rejected its October 2021 application. “I think all options are on the table come July,” Sonnenshein replied.
Artificial Intelligence: World Champions In Bridge Are No Match For AI
Bridge is a game that has most similarities with real-life; the information is incomplete, there are partners and opponents and the rules impose some explainability. In short, it is a game most likely to really challenge the abilities of an AI in a match against humans. It’s therefore significant that NooK, an AI model developed by French startup NukkAI, managed to beat eight human world champions in a two-day bridge tournament in Paris.
Digital Assets: Bitcoin Takes Out $48K, Now In Green For 2022
Bitcoin has shaken off its bearish blues and surged higher since Friday. On Monday, it touched a 24-hour high of $48,080.62, building on a sharp rally late on Sunday evening. The bullish trend in bitcoin is in the face of the continuing war in Ukraine, as well as hawkish pronouncements by Fed chair Jerome Powell meant to counter inflation.
FinTech: In The UK, Digital Chase Offers 1.5% On New Saver Account
Customers of digital bank Chase in the UK can now open the Chase Saver Account via the Chase app. Linked to the Chase Current Account, the new savings option offers savers a rate of 1.5% AER. Multiple such accounts, each uniquely numbered, may be opened, in accordance with specific savings goals, and named accordingly. It is available to both existing and new Chase customers.
Alternative Investments/ESG: The World’s First “Return On Character” ETF Makes Its Debut
ROC Investments, a California-based investment company that aims to be the market leader in measuring the character habits of public company senior leadership, has launched the ROC (Return On Character) ETF (BATS: ROCI).
Artificial Intelligence: AI Automates Strawberries Cultivation On Canadian Vertical Farm
A team from the University of Montreal’s Department of Computer Science and Operations Research is devising an AI-based system to automate control decisions in Winter Farm’s controlled-environment vertical strawberry farm in Vaudreuil.
Digital Assets: Cowen Launches Digital Asset Services For Institutions
Cowen Inc (NASDAQ: COWN), the New York-headquartered investment banking firm has launched Cowen Digital LLC, its digital asset division focussed on institutional clients. The new division offers full-service trade execution and custody solutions on a platform that provides these clients with secure and compliant access to the digital asset ecosystem.
Venture Capital: Katie Haun Raises $1.5B, Sets New Record For Initial Fund By Female Founder
Haun Ventures, a venture firm established by Katie Haun, who previously was at Andreessen Horowitz, has raised a $1.5 billion war chest to deploy in web3-facing startups. Haun announced the fund will invest through two platforms: a $500 million early stage fund and a $1 billion acceleration fund.