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: New Active Global Carbon Transformation ETF From KraneShares
Global asset management firm Krane Funds Advisors launched the KraneShares Global Carbon Transformation ETF (Ticker: KGHG) on the NYSE on March 16. To be managed by award-winning portfolio manager Roger Mortimer, the ETF will address the theme of decarbonization amidst climate targets.
Artificial Intelligence: AI Could Simulate 40,000 Hypothetical Bioweapons In A Mere Six Hours
A team of researchers from Collaborations Pharmaceuticals Inc received an invitation to an international security conference that reviews developments in chemistry, biology and enabling technologies that may have implications for chemical and bioweapons. Their brief: To play devil’s advocate to the impression that AI technology for drug discovery could only be used benevolently. Their finding: AI designed 40,000 molecules that had toxic and chemical warfare implications in just six hours.
Venture Capital: Yuga Labs, Which Created The Bored Ape Yacht Club, Reels In $450M Seed Funding
Yuga Labs raised $450 million in a monster seed round led by led by a16z crypto, with participation from Animoca Brands and its subsidiary The Sandbox, LionTree, Sound Ventures, Thrive Capital, and crypto leaders like FTX and MoonPay, and other partners and collaborators. Yuga is the owner of the Bored Ape Yacht Club, a collection of NFTs that has grabbed the internet’s attention and could well become a big brand.
Digital Assets: Stronghold Digital Uses Energy From Coal Waste To Mine Bitcoin
Millions of tons of coal waste litter across Pennsylvania at coal mining sites that were abandoned after their useful coal was mined and sold to steel mills and power plants. Stronghold Digital Mining (NASDAQ: SDIG) has devised a method to turn these waste mountains into energy that can be used to mine bitcoin.
Alternative Investments/ESG: The CICC Carbon Futures ETF Launches Today In Hong Kong
The China International Capital Corporation Hong Kong Asset Management Limited, a wholly owned subsidiary of China International Capital Corporation Limited, launches today the CICC Carbon Futures ETF on the Hong Kong Stock Exchange. Investors will therefore get access to one of the largest carbon markets in the world.
Artificial Intelligence: Nvidia Unveils H100 GPU For AI Applications
NVIDIA (NASDAQ: NVDA) founder and CEO Jensen Huang announced the H100 GPU, an AI chip described as the “new engine of the world’s infrastructure.” This massive 80 billion transistor chip uses TSMC’s 4N process and is three times faster than its previous-generation A100 at FP16, FP32, and FP64 compute, and six times faster at 8-bit floating point math.
Digital Assets/Alternative Investments: Grayscale Launches Smart Contract Platform Fund
Grayscale Investments has launched the Grayscale Smart Contract Platform Ex-Ethereum Fund in response to a perceived demand for diversified exposure to crypto protocols leveraging decentralized smart contract technology.
FinTech: Robinhood Launches Cash Card
Robinhood (NASDAQ: HOOD) announced today its Robinhood Cash Card that promises debit card customers the same benefits and rewards once reserved for credit card holders. “We’re introducing the Robinhood Cash Card to help a new generation start their investing journey—and get rewarded—while spending on the things they need and love,” the company said.
Venture Capital: Corporate Card And Expense Management Platform Jeeves Raises $180M
Jeeves, the company operating a global expense management platform and an issuer of corporate cards, raised $180 million in a Series C round led by Tencent (HKG: 0700) with participation from GIC, Stanford University, Andreessen Horowitz (a16z), CRV, Silicon Valley Bank, FT Partners, Clocktower Ventures, Urban Innovation Fund, Haven Ventures, Gaingels, Spike Ventures, the family offices of two FAANG founders, and Carlo Enrico, president of Latin America and the Caribbean for Mastercard.
Alternative Investments/ESG: BNP Paribas Launches ETFs Targeting Hydrogen And Sustainable Real Estate
BNP Paribas Asset Management has launched ESG-filtered thematic ETFs targeting real estate and the hydrogen economy. The BNP Paribas Easy ECPI Global ESG Hydrogen Economy UCITS ETF (HYDRO FP) provides thematic equity exposure to companies involved in hydrogen economy. Meanwhile, the BNP Paribas Easy FTSE EPRA/NAREIT Global Developed Green CTB UCITS ETF (GRCTB FP) offers exposure to developed market REITS and real estate companies while tilting towards the most environmentally friendly securities.
Artificial Intelligence: Yokogawa And JSR Use AI To Autonomously Run A Chemical Plant For 35 Days
Yokogawa Electric Corporation (TYO: 6841) and JSR Corporation (TYO: 4185) have successfully run a chemical plant autonomously for 35 days using AI. In fact, the production output of the plant, since shipped, met rigorous quality parameters. As a result, because off-spec products were not produced, losses of fuel, labor, and time were also avoided.
Venture Capital: Finance Automation Platform Ramp Raises $750M In Equity And Debt Funding
Ramp is a finance automation platform and the first corporate card designed to help businesses control spending. The company announced today $750 million in new financing, bringing its valuation to $8.1 billion.
FinTech: RippleNet Noted In Arab Monetary Fund’s Guide On CBDCs
The Arab Monetary Fund (AMF) recently issued an exhaustive guide to Central Bank Digital currencies (CBDCs) with a view to inform Arab central banks on various aspects relating to CBDCs. Interestingly, a page of the publication analyzes payment modernization methods that could serve as an alternative to CBDCs, with Ripplenet and Ripple’s XRP listed as an example.
Digital Assets: Malaysian Ministry Recommends Crypto As Legal Tender To Drive Financial Inclusion
Malaysia’s Communications and Multimedia Ministry has suggested that the country should adopt cryptocurrencies as legal tender as digital assets are the future of finance. The Deputy Communications and Multimedia Minister, Datuk Zahidi Zainul Abidin said the move would help the youth of the country, who actively use cryptos, especially on NFT sites.
Alternative Investments/ESG: Global X Launches Four China ETFS, Including Clean Energy And EVs, In Europe
Global X has launched in Europe four new thematic, China-focused ETFs that address the clean energy, electric vehicles and batteries, cloud computing , and biotech megatrends. The new ETFs follow Global X’s recent thematic launches focusing on solar, agtech and food innovation, hydrogen and wind energy. The firm also introduced bitcoin and ether ETPs earlier this month.
Artificial Intelligence: An Australian Made Boeing Drone Is Named “Ghost Bat”
Boeing’s military combat drone that was being developed under the Loyal Wingman program name, has now been assigned ‘MQ-28A Ghost Bat’ as the military designator and name by the Australian Government and Royal Australian Air Force (RAAF). The first military combat aircraft to be produced in Australia in over 50 years, it was developed in a timetable of just three years from ideation to first flight.
FinTech: Jack Dorsey’s Block Flags Off Asian Foray, Invests In Japanese Fintech Kyash
Jack Dorsey’s Block Inc (NYSE: SQ), formerly Square, has participated in a $41.2 million Series D round raised by Japanese fintech and challenger bank Kyash. The transaction marks the first investment by Block in an Asian company. The funding valued the startup at about $107.7 million.
Venture Capital: Job Search Platform Talent.com Raises $120M
Talent.com, which is building a next-generation job search site, announced Wednesday its successful US$120 million Series B funding round led by Inovia Capital, with the participation of existing investor Caisse de dépôt et placement du Québec (CDPQ), and new investors Investissement Québec, Climb Ventures, BDC Capital, Fondaction, and HarbourVest Partners. The company also raised US$30 million in new debt financing from the Technology & Innovation Banking Group at BMO Financial Group.
Alternative Investments/Digital: ETC Group Launches Metaverse ETF On London Stock Exchange
This is claimed to the Europe’s first metaverse-themed ETF. The ETC Group Global Metaverse UCITS ETF made its debut on the London Stock Exchange on March 17. It will be passported for sale across Europe, making it Europe’s first Metaverse ETF, and giving investors the opportunity to get exposure to a new, wide-scale, and long-term…
Artificial Intelligence: US Spending On AI To Double by 2025 (IDC Report)
International Data Corporation (IDC), a global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets, released their new Worldwide IDC Spending Guide for Artificial Intelligence. The Guide estimates that US spending on AI could double to $120 billion by 2025.
Digital Assets: Mike Novogratz Sees Bitcoin At $500K In Five Years
Speaking on a Bloomberg interview on Tuesday, bitcoin permabull and founder of Galaxy Digital (TSE: GLXY) Mike Novogratz said though bitcoin was likely to touch $500,000 five years out, the current outlook is that the leading crypto will remain rangebound. Factors like the Ukraine war and a hawkish Fed are likely to keep a lid on rallies in bitcoin.
FinTech: Robinhood Would Allow Users To Loan Stocks, Earn Passive Income
Robinhood (NASDAQ: HOOD), the pioneer in commission-free mobile stock trading, is likely to roll out a stock lending feature in the coming months, Bloomberg reported. Dubbed the Stock Loan Income Program (SLIP), the new feature would compete with other legacy brokers when it rolls out in coming months.
Alternative Investments/Digital: A New ETF Combines Exposure To Bitcoin And The S&P500
Digital Funds LLC, a new digital asset manager helmed by founder Michael Willis, has filed for the Digital Funds S&P 500 Bitcoin 75/25 Index ETF which will provide investors with exposure to both the S&P500 as well as bitcoin in a 75:25 ratio.
Venture Capital: Crypto Software Company ConsenSys Raises $450M
Ethereum and Web3 focused software developer ConsenSys has raised $450 million in a Series D round led by ParaFi Capital with participation by Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. Investors from Series C — Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund — also participated.