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 Preps Entry Into Canadian Weed POS Through Tie-Up With Jane Technologies
Square has entered the Canadian cannabis market through a strategic partnership with Jane Technologies, a prominent online ordering platform for cannabis dispensaries. This collaboration aims to address the needs of cannabis sellers in Canada, particularly by providing reliable and integrated commerce solutions.
Digital Assets: Stablecoin Issuer Tether Said To Invest $420M For 10K Of The Coveted H100 AI Chips
Tether, the company known for the world’s leading stablecoin, has made a strategic investment in Northern Data Group (ETR: NB2) through its subsidiary, Damoon. With an $83 billion market capitalization, Tether is diversifying its investments beyond fintech, including energy production, bitcoin mining, and communications technology.
Venture Capital: GGV Capital To Split In Two Amidst Simmering Sino-US Tensions
Venture investment firm GGV Capital is undergoing a restructuring into two independent entities, one focusing on Asia and the other on the US, a move similar to Sequoia Capital’s recent three-way split. This realignment of the firm’s business aims to address the challenges posed by mounting geopolitical tensions between the US and China.
Artificial Intelligence: Authors Guild, The Writers’ Trade Body, Sues OpenAI
In a recent legal development, the Authors Guild, representing 17 prominent authors including Douglas Preston, George R.R. Martin, and Jodi Picoult, has initiated a proposed class-action lawsuit against OpenAI, the entity behind ChatGPT. The crux of their complaint is that OpenAI unlawfully used their literary works to train ChatGPT without consent or compensation.
Artificial Intelligence: OpenAI Announces DALL-E 3, Integrated With ChatGPT
OpenAI’s latest creation, DALL-E 3, is making waves in the world of AI image synthesis. This cutting-edge model, unveiled on September 21, 2023, is a significant leap forward in terms of its ability to generate images that closely adhere to complex descriptions and handle in-image text generation, such as labels and signs. What sets DALL-E 3 apart is its remarkable fidelity to prompts, making prompt engineering largely obsolete.
FinTech: Brazilian Agro-Focused Fintech Nagro Raises $49M
Brazil’s agro fintech company Nagro has secured $49 million in funding from equity and debt sources, including Kinea Ventures and Revolution. The funding will be used to expand Nagro’s credit solutions for rural producers, focusing on credit analysis, risk monitoring, and digital credit allocations.
Digital Assets: Nomura’s Arm, Laser Digital, Launches Bitcoin Fund For Institutional Clientele
Nomura’s (TYO: 8604) digital assets subsidiary, Laser Digital, has unveiled its Bitcoin Adoption Fund, marking a significant move in the realm of institutional investment in digital assets. This fund represents the inaugural offering in Laser Digital Asset Management’s series of digital adoption investment solutions. It is designed to provide institutional investors with a streamlined avenue to tap into the digital asset class.
Venture Capital: HSBC Readies $1B Warchest For Funding ClimateTech Startups
HSBC (LON: HSBA) has made a significant commitment in the fight against climate change by pledging to provide $1 billion in financing to early-stage climate tech startups worldwide. This initiative aims to accelerate the development of innovative solutions in areas such as electric vehicle charging, battery storage, sustainable agriculture, and carbon removal technologies.
Fintech: As Meta Looks For Revenue, Whatsapp Launches An In-chat Payment Service For Indian Businesses
WhatsApp, under its parent company Meta (NASDAQ: META), is launching an in-chat payments service for businesses in India. This move aims to tap into the immense market potential of India and boost revenue for the messaging service. Users in India will now have the ability to make payments for products and services directly through WhatsApp.
Artificial Intelligence: SambaNova Launches The SN40L Into A Red-Hot AI Chip Market
SambaNova Systems, an AI chip startup, has introduced the SN40L chip, which enables customers to utilize more extensive AI models at a reduced cost. This chip is designed for running large language models in enterprise applications, accommodating models over twice the size of OpenAI’s ChatGPT.
Venture Capital: Trailhead Capital Concludes Its First $50 Million Fund Focused On Companies In The Regenerative Food And Agriculture Sector
Trailhead Capital, a mission-driven venture capital firm based in Boulder, Colorado, has successfully closed its inaugural fund, the Trailhead Capital Regeneration Fund I, with commitments totaling approximately $50 million. This achievement highlights the strong investor confidence in Trailhead’s team and its focus on expanding regenerative agriculture practices and products through tech-enabled solutions.
Digital Assets: Grayscale Applies For Ethereum Futures ETF
Grayscale has filed for a new Ethereum futures exchange-traded fund (ETF) under the Securities Act of 1933, diverging from its previous attempts under the Investment Company Act of 1940, according to a Wall Street Journal report.
FinTech: Swift And Wise Partner To Broaden International Payment Choices On A Global Scale
Swift and Wise (LON: WISE) have joined forces to expand cross-border payment options globally, benefiting financial institutions and their customers. This collaboration allows payments sent securely via Swift to seamlessly complete over Wise with end-to-end transparency.
Venture Capital: Indonesian Sustainable Farming Startup Koltiva Raises Seven-Figure Series A Funding Round
Koltiva, an Indonesia-based sustainable farming and supply chain traceability startup, has successfully secured a significant series A funding round, led by the reputable AC Ventures. This funding round also saw participation from Silverstrand Capital, Planet Rise, Development Finance Asia, Blue 7, and existing investor The Meloy Fund. Koltiva’s unique approach blends online and offline solutions to assist multinational companies and their suppliers in achieving traceability within their supply chains.
Artificial Intelligence: Morgan Stanley Empowers Financial Advisors With AI Assistants Running On GPT-4
Morgan Stanley (NYSE: MS) has ushered in the generative AI era on Wall Street with the launch of its AI @ Morgan Stanley Assistant, powered by OpenAI’s GPT-4. This move makes Morgan Stanley the first major Wall Street firm to deploy a bespoke solution based on GPT-4 for its employees, marking a significant development in the financial sector.
Digital Assets: Blockchain Capital Raises $580M For Two New Crypto Funds
Blockchain Capital, a prominent crypto-focused investment firm, has achieved a remarkable feat by raising $580 million for two new investment funds dedicated to various sectors including infrastructure, gaming, DeFi (Decentralized Finance), and consumer technologies.
Digital Assets: Robert Kiyosaki (Of Rich Dad Poor Dad Fame), Trashes Fiat Money
In a recent statement, renowned author Robert Kiyosaki, famous for his book “Rich Dad Poor Dad,” boldly declared that cryptocurrency is the future while fiat money, including the U.S. dollar, is on the brink of obsolescence. Kiyosaki’s perspective stems from his belief that fiat currencies are essentially “fake money,” contrasting them with what he calls “God’s money,” represented by gold and silver, and “people’s money,” represented by Bitcoin.
FinTech: Swift Makes New Services Available Via Broadridge Connectivity
Broadridge Financial Solutions, Inc. (NYSE: BR) is expanding its offerings by providing access to Swift’s API for Transaction Screening Service and Swift’s new Securities View service. This strategic move aims to offer financial institutions and corporate treasuries enhanced sanctions screening capabilities and improved control over securities settlement processes.
Artificial Intelligence: AI Detection System To Help Humans And Tigers Co-Exist
In a groundbreaking development for wildlife conservation, the Global Tiger Forum, National Tiger Conservation Authority, the NGO RESOLVE, and Clemson University have introduced a cutting-edge AI-powered camera-alert system known as TrailGuard AI. This innovative technology is designed to enhance coexistence between tigers and humans, addressing the increasing challenge of human-wildlife conflict in India’s tiger habitats.
Alternative Investments/ESG: BlackRock Launches Climate ETF In Singapore
BlackRock (NYSE: BLK) has made a significant move in the world of exchange-traded funds (ETFs) with the listing of the iShares MSCI Asia ex-Japan Climate Action ETF on the Singapore Exchange (SGX). This marks a milestone as the largest equity ETF launch in Singapore’s history, boasting an impressive US$426 million ($579.45 million) in assets. The fund’s foundation is bolstered by Prudential and a group of investors that includes Temasek and Singlife.
FinTech: Optera Raises $12M For Its Carbon Management Services
Optera, a leader in ESG and carbon management software, has secured $12 million in Series A funding. Next Frontier Capital led the funding round, with participation from Blackhorn Ventures, Mucker Capital, Overture, Engage, Massive, SaaS Ventures, Valo Ventures, AngelList, and Stout Street Capital.
Venture Capital: Chimera Floats Lunate, An Alternative Assets Arm With AUM Of Over $50B
Chimera Investment, an Abu Dhabi-based private organization, has established an independent alternative investment company called Lunate, boasting over $50 billion in assets under management. Lunate will operate from the Abu Dhabi Global Market and will focus on various investment opportunities globally, including private equity, venture capital, private credit, real assets, public equities, and public credit markets.
Artificial Intelligence: India’s Infosys Wins $1.5B Contract Including AI Solutions
Infosys (NSE: INFY), India’s second-largest software services exporter, recently announced a substantial $1.5 billion contract spanning 15 years with a prominent “global company.” In this partnership, Infosys will deliver advanced digital experiences and business operational services, capitalizing on their platforms and cutting-edge artificial intelligence (AI) solutions. However, Infosys has not disclosed the identity of this global company or whether it is an existing client.
Artificial Intelligence: Amazon Deploys Generative AI To Help Sellers Write Effective Product Listings
Amazon (NASDAQ: AMZN) is harnessing the power of generative artificial intelligence (generative AI) to revolutionize the way sellers create and manage product listings. These new AI capabilities aim to simplify the listing creation process, making it more efficient and engaging for both sellers and shoppers.