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: Square Inc, The Company, Renames Itself Block
Square Inc (NYSE: SQ) announced Wednesday its change of name to Block. The renaming applies to the corporate holding entity, distinguishing it from its different businesses (“building blocks”), who will all continue to maintain their respective brands. There will also be no organizational change.
Digital Assets: Bank Of America Strategist Views The Metaverse As a Massive Opportunity
Haim Israel, strategist at Bank of America (NYSE: BAC), said to Markets Insider that the metaverse represented a huge opportunity for the crypto ecosystem, blockchain and cryptocurrencies because there would be a huge rush to set up the platforms that underpin the new virtual world.
Alternative Investments/Digital: Crypto ETPs From WisdomTree And Bitcoin Capital List in Europe
Asset manager WisdomTree listed on December 2 the Crypto Mega Cap Equal Weight ETP on Euronext exchanges in Paris and Amsterdam under the symbol MEGA. Meanwhile, Bitcoin Capital AG launched the FiCAS Active Bitcoin ETP (BTCB) and FiCAS Active Ethereum ETP (ETHB) on the SIX Swiss Exchange.
Artificial Intelligence: Ex-Google Researcher Gebru Launches Non-Profit To “Bring AI Back Down To Earth”
In a bid to free AI research “from Big Tech’s pervasive influence,” prominent AI research scientist Dr Timit Gebru has launched an independent research institute on the first anniversary of her tumultous ouster from Google (NASDAQ: GOOGL). The Distributed Artificial Intelligence Research Institute (DAIR) seeks to be an independent space where researchers can undo the harm done by AI to minority groups such as through biased technology.
Venture Capital: Commonwealth Fusion Systems Raises $1.8B To Build The SPARC Net Energy Fusion Machine
Commonwealth Fusion Systems (CFS), the Cambridge-based startup developing fusion power plants to meet global decarbonization goals, has closed a $1.8 billion Series B round led by Tiger Global Management and included new investors such as Bill Gates, John Doerr, Google, and Marc Benioff’s TIME Ventures.
Alternative Investments/Digital: Two Canadian Fund Managers Launch Metaverse Themed ETFs
Canadian fund managers Horizons ETFs and Evolve Funds have launched the Horizons Global Metaverse Index ETF (“MTAV”) and the Evolve Metaverse ETF (“MESH”) respectively, on the Toronto Stock Exchange.
Digital Assets: Grayscale Launches Solana Trust, Protests SEC Rejection Of VanEck Spot Bitcoin ETF
Grayscale Investments announced Tuesday the launch of the Grayscale Solana Trust to provide investors with exposure to Solana (SOL), the native token of the Solana network, a smart contract platform based on a decentralized blockchain that is claimed to be the fastest in the world. The firm has also written to the SEC protesting the regulator’s rejection of spot bitcoin ETFs.
Venture Capital: Digital Temp Staffing Startup Jobandtalent Snags $500M Series E
Madrid-based temp staffing marketplace Jobandtalent announced the closure of its Series E raise of $500 million at a valuation of $2.35 billion from Kinnevik and SoftBank Vision Fund 2. Existing investors including Atomico, DN, Infravia, Kibo and Quadrille also participated in the round. The company uses technology to match workers with temporary openings at employers in industries including logistics, e-commerce, warehousing, and manufacturing. Workers can apply for and manage roles, submit paperwork, sign contracts, and get paid, all inside the Jobandtalent app.
FinTech: BNPL Was “One Of The Stars” Of The Holiday Season For PayPal
PayPal (NASDAQ: PYPL) enjoyed solid volumes for its buy-now-pay-later (BNPL) offering on Black Friday, continuing a trend the giant payments fintech observed all through November. In that month, for the first time, the company achieved the high water mark of $1 billion in BNPL transactions.
Artificial Intelligence: Insilico Medicine Initiates First-In-Human Trial Of AI-Discovered Drug For Pulmonary Fibrosis
Insilico Medicine, an end-to-end artificial intelligence (AI)-driven drug discovery company, has dosed a volunteer in Australia with ISM001-055, a potentially first-in-class small molecule inhibitor of a novel biological target discovered by its Pharma.AI platform for the treatment of Idiopathic Pulmonary Fibrosis (IPF). It represents the first trial in humans of this drug candidate.
Digital Assets: MicroStrategy’s Saylor, El Salvador’s Bukele Both Buy The Bitcoin Dip
Path-breaking corporate bitcoin investor MicroStrategy (NASDAQ: MSTR) said in a filing Monday that it purchased approximately 7,002 bitcoins for about $414.4 million in cash, or $59,187 per coin, between October 1 and November 29 – a classic ‘buy-the-dip’ operation as financial markets reel from the implications of a new, highly mutated virus.
FinTech: London-Listed, Global Fintech Wise To Expand Its North America Business
Wise (LON: WISE), the global payments processor previously known as TransferWise, announced a 2022 expansion plan for its operations in North America given its solid growth in the half year concluded on September 30, 2021.
Alternative Investments/Real Estate: UOB Launches APAC-Focused, Green REIT ETF
Singapore’s United Overseas Bank ( UOB ) Asset Management has launched the UOB APAC Green REIT ETF (GRE SP), which has been listed on Singapore Exchange and provides ESG-tilted exposure to high-yielding real estate investment trusts (REITs) listed in Asia Pacific and Oceania. The fund is said to be the first of its kind in the world that brings investors access to sustainable investments in real estate in the region.
Venture Capital: European VC Fund Partech Closes $750M Second Growth Fund
Partech, which invests its venture capital in tech and digital companies at all stages in Europe, North America, Africa and Asia, announced today the close of its second fund at $750 million, well above its target size. The VC firm plans to invest the money in 12 -15 European scale-ups with an average check size of between €20 to €70 million ($23 million to $80 million).
Artificial Intelligence: Chinese Autonomous Driving Company Pony Gets Paid Robotaxi License For Beijing
Pony’s passenger car business now moves from testing to commercialization. Autonomous driving technology company Pony.ai has been authorized to run paid autonomous robotaxi services in the Beijing Intelligent Networked Vehicle Policy Pilot Zone in southeastern Beijing, the company announced Monday. Significantly, Beijing, China’s capital, is the first Tier-1 city in China to permit chargeable autonomous…
FinTech: New Players In BNPL, And Down Under, Stocks Are Hammered
Afterpay enters subscriptions market, Monzo’s Pay Later, Suncorp hops onto the BNPL bandwagon, and BNPL stocks get clobbered in Australia
Digital Assets: Grayscale’s Report Paints The Metaverse As The Next Emerging Market Investment Frontier
A report issued by Grayscale Research, a unit of Grayscale Investments, the largest digital asset manager in the world, describes the Metaverse as a potential market opportunity worth over $1 trillion in annual revenue.
Artificial Intelligence: UNESCO Member States Adopt The First Ever Global Agreement On The Ethics Of Artificial Intelligence
The first ever global standard on the ethics of artificial intelligence (AI) was adopted by the member states of UNESCO at its General Conference on Tuesday. Audrey Azoulay, director-general of the United Nations Educational, Scientific and Cultural Organization (UNESCO), presented the historic agreement on Thursday, nearly twenty months after she constituted an international group of 24 leading AI experts to draft recommendations on the ethical issues of AI.
Venture Capital: Indian Fantasy Gaming Group Dream Sports Raises $840M
Dream Sports announced last week its raise of $840 million from investors led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global, with the transaction valuing the startup at $8 billion. Existing investors including TPG and Footpath Ventures also participated in the funding.
Digital Assets: India To Clamp Down On Cryptocurrencies Via Legislation By Year-End
The legislative agenda for the upcoming winter session of the Lok Sabha, the lower house of India’s parliament, shows that a bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” would be introduced for consideration of the house. The Winter session of the Lok Sabha is scheduled to run from November 29 through December 23.
FinTech: Klarna Launches “Pay Now” In The US, Klarna Card Soon To Follow
Klarna, the Stockholm-headquartered fintech powerhouse last valued at $45.6 billion, has brought a “Pay Now” offering to consumers at retailers wherever Klarna is accepted. The company also announced a Klarna Card to “very soon” hit the US market and which would be loaded with the company’s highly popular Pay in 4 product for interest-free instalment payments.
Venture Capital: Agtech And Farmer-To-Farmer Platform FBN Raises $300M
Farmers Business Network (FBN) is a farmer-to-farmer network launched in 2014 as an information source and for sharing of agronomic precision data. It now has thousands of farmer-members managing millions of acres of land across the world. FBN announced last week its $300 million Series G funding led by Fidelity Management & Research Company LLC with participation from LN Mittal Family Office, ADM Ventures Investment Corp., Colle Capital Partners, Walleye Capital, and Tudor Investment Corporation.
Venture Capital: Arc, Which Makes $300K Electric Boats, Snags $30M
Arc, a startup led by former SpaceX engineers and developing electric boats, announced its $30 million Series A raise led by Greg Reichow, a former Tesla VP of Production, now at Eclipse Ventures. Existing investors including Andreessen Horowitz, Chris Sacca’s Lowercarbon Capital and Ramtin Naimi’s Abstract Ventures also participated in the funding. Will Smith’s Dreamers VC, Kevin Durant and Rich Kleiman’s Thirty Five Ventures and Sean “Diddy” Combs’ Combs Enterprises, all previous investors, also chipped in.
Alternative Investments/ESG: RBC Unit BlueBay Asset Management Launches Multi-Asset ESG Strategy
Specialist fixed income manager BlueBay Asset Management, which is owned by the Royal Bank of Canada, announced the launch of the BlueBay Total Return Diversified Credit ESG Fund. It is a multi-asset strategy suitable for ESG-oriented investors in fixed income assets. The fund will provide exposure to its ESG-focused ‘best ideas,’ across global high yield, bank loans, financial capital bonds, structured credit, convertible bonds, emerging markets and developed market investment grade categories.