Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO: 4506) resulted in the creation of the molecule DSP-0038, a dual-targeted 5-HT1A agonist and 5-HT2A antagonist to be assessed for treatment of Alzheimer’s disease psychosis. Sumitomo will now initiate a Phase 1 clinical study of DSP-0038 in the United States.
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Elon Musk has suddenly got religion on bitcoin. He announced in a tweet on Wednesday that Tesla (NASDAQ: TSLA) will no longer sell its cars for bitcoin due to the leading cryptocurrency’s carbon footprint and consequently adverse effect on the environment.
The craft pictured above looks remarkably fragile but a team of researchers from the marine research non-profit organization ProMare in technology collaboration with IBM will attempt to sail the Mayflower 400 across the Atlantic on May 15, 2021.
An internal memo at Goldman Sachs (NYSE: GS) issued Thursday announced that its all-new crypto trading team had successfully traded certain bitcoin derivatives. According to CNBC, which saw the memo issued by Goldman partner Rajesh Venkataramani, the team is a part of the bank’s global currencies and emerging markets trading division and reports to him, though it is also a constituent of the digital assets unit led by Mathew McDermott.
Square Inc (NYSE: SQ) left analysts’ estimates in the dust with its numbers for the first quarter. The payments giant clocked quarterly revenues of $5.1 billion, well above analysts’ consensus of $3.34 billion and last year’s tally of $1.38 billion. It reported adjusted earnings of 41 cents per share, compared to expectations of 17 cents and last year’s loss of 2 cents a share.
Galaxy Digital Holdings Ltd (TSE: GLXY), founded by Michael Novogratz has inked a deal to acquire BitGo Inc for $1.2 billion in cash and stock.
Porsche owners in Melbourne can now look forward to super-easy off-street parking in Melbourne, Australia, thanks to the all-new Porsche Park app. Advantages: Zero contact parking – just search, navigate, access, and pay.
AI stalwart Samy Bengio has joined Apple after quitting Google. Apple (NASDAQ: AAPL) has snapped up acclaimed scientist Samy Bengio after he left Google (NASDAQ: GOOGL) following a highly visible fracas in the search behemoth’s AI department. (Yahoo News) Samy Bengio quit Google last week amid rising discord within Google’s AI ranks, following the firings…
FinTech: “Speculative, Casino-Like” (Buffett On Robinhood); “Insulting Old Guard” (Robinhood On Buffett)
At the Berkshire Hathaway (NYSE: BRK.A) annual meeting on Saturday Warren Buffett and Charlie Munger criticized commission-free brokerage Robinhood for fanning gambling behavior by people “who have money in their pockets for the first time.” Their charges drew an equally acidic response from Robinhood, which is likely to go public this year.
Spray drift refers to the damage to nearby crops and fauna due to pesticide spraying. Unwanted movement of sprayed pesticides due to factors such as wind often result in the chemicals being deposited on unintended targets such as proximate crops or wildlife. However, this problem, referred to as spray drift, is now being tackled in…
The distinction for the purchase of Asia’s first Lamborghini using bitcoin goes to car buyer Jo Chirawat, exchange Zipmex, and Bangkok-based Lambo dealer Renazzo Motors. Zipmex announced it had facilitated the transaction for a bitcoin-paid Lamborghini 2021 Huracán EVO RWD through its ZipSpend crypto-payment network.
To create the third annual AI 50, Forbes partnered with Sequoia Capital and Meritech Capital. The list consists of private, North American companies that are using AI in ways fundamental to their operations. (Forbes)
The list in alphabetical order:
Greenlight announced today its close of $260 million in Series D funding led by Andreessen Horowitz. Existing investors TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital, as well as new investors Wellington Management, Owl Ventures, and LionTree Partners also participated.
Liquid alternatives, also known as liquid alts, are mutual funds and ETFs that aim to provide investors with diversification and portfolio stability through alternative investment strategies. Alternatives include assets such as infrastructure, real estate, and commodities; alternative strategies, which use tools like short-selling or leverage to amplify returns and manage volatility; and private markets, which include equity, credit, infrastructure, or other categories. According to Mackenzie Investments, traditional portfolios should include a component of alternatives for diversification, protection, and steadier returns in today’s volatile markets.
Online and D2C grocery platform Misfits Market announced its Series C round of $200 million co-led by Accel and D1 Capital. Other participants in the round included existing investors Valor Equity Partners, Greenoaks Capital, Sound Ventures, and Third Kind Ventures. The startup confirmed it had achieved unicorn status with this oversubscribed funding round.
Global fintech and challenger bank Revolut is planning to set up shop in India and has appointed Paroma Chatterjee, previously of Lendingkart, Via.com, Flipkart, and Airtel Money, as its CEO for the Indian venture. Chatterjee was named as one of the Top 25 Women Leaders in Financial Technology of Asia for 2020.
Alternative Investments/Digital: Its Raining Crypto ETF Approvals In Canada, But Fee Wars Erupt In Ether
Canadian regulators cleared three Ethereum ETFs last week. These were funds from Purpose Investments, CI Global Asset Management, and Evolve ETFs that are expected to commence trading today. Meanwhile, the fourth bitcoin ETF to be approved by Canada, the 3iQ CoinShares Bitcoin ETF, commenced trading on the TSX effective Monday. Unsurprisingly, the (surfeit?) of new ETFs has resulted in a chase for investors’ dollars, and fee cuts have been announced.
With three months of its Series B fundraise, audio-based social app Clubhouse announced Sunday its Series C raise (amount not disclosed) from investors including DST Global, Tiger Global, and Elad Gil. Andrew Chen at a16z led the round at a valuation of $4 billion, according to Reuters.
Horizons ETFs Management (Canada) Inc announced the launch of the BetaPro Inverse Bitcoin ETF (TSE: BITI) on the Toronto Stock Exchange effective Thursday. The ETF will allow investors to make bearish bets against bitcoin, the leading cryptocurrency. It will provide up to 100% of the inverse daily performance of an index, the Horizons Bitcoin Front Month Rolling Futures Index.
Artificial Intelligence : “We Must Not Allow AI To Determine The Outcome Of A Case” – Chief Justice Of India
Hon’ble the Chief Justice of India, Mr. Justice Sharad Arvind Bobde, says that while AI can provide assistance and information for the evaluation of the merits of a case, it cannot replace the element of human decision-making in a judicial system.
Global X has launched the Global X Clean Water ETF (NASDAQ: AQWA). The new ETF adds to Global X’s Thematic Growth family of 27 ETFs with AUM of more than $16 billion. Thematic Growth ETFs target companies across the globe driving long-term, paradigm-shifting themes.
The much-awaited day of Coinbase’s listing is finally upon us. Trading in COIN, the ticker symbol assigned to Coinbase, is yet to commence. However, CNBC reported that the shares in the crypto exchange, which are to be directly listed, are likely to open at about $360 per share, though Nasdaq provided a reference price of $250 on Tuesday.
Grab, the Southeast Asian giant that straddles ride-hailing, online food delivery, and digital wallet payments in the region through a super app, has agreed to go public in the U.S. through a SPAC transaction. The SoftBank-backed startup will merge with Altimeter Growth Corp. (NASDAQ: AGC) and thereafter trade on the NASDAQ with the ticker GRAB.
Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The price represents a premium of 23% over the Friday closing of Nuance of $45.58.