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Elon Musk’s artificial intelligence startup, xAI, aims to secure $1 billion in equity financing to compete with industry leaders such as OpenAI, Microsoft, and Google. The company, co-founded by Musk, has already garnered $135 million from investors, as revealed in a filing with the US Securities and Exchange Commission.
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FinTech: Amazon Customers To Get Affirm’s BNPL Solution At Checkout; Affirm Shares Spike 43%
Affirm (NASDAQ: AFRM) announced it is partnering with Amazon (NASDAQ: AMZN) on a buy-now-pay-later (BNPL) solution, also known as a flexible payment facility, to be made available by Affirm to Amazon.com customers. BNPL has become highly popular across the globe, particularly after the pandemic, as customers sought payment solutions that were less expensive than credit cards.
Alternative Investments/Digital: Bloomberg Analysts Believe A Bitcoin Futures ETF Could Arrive October
Bloomberg analysts James Seyffart and Eric Balchunas have homed in on the sudden withdrawal of applications for futures-based Ethereum ETFs by VanEck and ProShares last week. Reading the tea leaves, the analysts say the withdrawals augur well for the SEC’s approval of a futures-based bitcoin ETF.
Digital Assets: Perma-Bull Michael Saylor-Led MicroStrategy Adds $177M To Bitcoin Bet
MicroStrategy (NASDAQ: MSTR), the business data company that pioneered parking corporate treasury reserves in bitcoin, has added another tranche of the cryptocurrency to its already massive hoard, according to a filing today (August 24, 2021).
FinTech: Fractional Trading Provider DriveWealth Snags $450M At $2.85B Valuation
DriveWealth last week raised $450 million in a Series D round co-led by New York-based global private equity and venture capital investors Insight Partners and Accel, with significant participation by Greyhound Capital, Softbank Vision Fund, and Series C lead Point72 Ventures. New investors including Base 10, FTX, and FlightDeck also participated. The round valued the fintech at a sizable $2.85 billion.
FinTech: Opay Nabs $400M; Turns Africa’s Fastest Unicorn
Opay, a mobile payments platform and POS device maker based in Africa, raised $400 million in a round led by Softbank Vision Fund 2 with participation by Sequoia Capital China and Redpoint China. Opay became a unicorn after the funding, the fastest startup in Africa to do so, after snagging a valuation of $2 billion.
Artificial Intelligence: At Its First AI Day, Tesla Unveils A Humanoid Robot
At Tesla’s (NASDAQ: TSLA) first AI Day held on Thursday, showman Elon Musk gave the world a glimpse of the Tesla Bot, a humanoid bot that could ultimately perform those tasks that human least like to do. You’re forgiven to imagine that an actual humanoid came on stage – no, it was just an actor in a body suit resembling the robot.
Artificial Intelligence: Chinese Internet Giant Baidu Launches Robocar and AI Chip
Baidu Inc (NASDAQ: BIDU), the Chinese tech company known for its internet search service and AI focus, presented a concept two-seater “Robocar” at its annual Baidu World 2021 conference on Wednesday. The futuristic, AI-packed car does not have a steering wheel, nor gas or brake pedals, but is big enough for a passenger to stretch out for a nap.
Venture Capital: Apeel Sciences Raises $250M For Its Longer Lasting Produce
Apeel Sciences, which applies an edible, plant-based coating to fresh produce to extend its life, announced today its Series E raise of $250 million led by returning investor Temasek. “Since 2019, Apeel has prevented 42 million pieces of fruit from going to waste at retail, which has helped avoid 10,000 metric tons carbon dioxide equivalent of greenhouse gas emissions and conserve nearly 4.7 billion liters of water,” the company claimed in a statement.
Liquid Alternatives: CI Global Launches Liquid Alt ETF And Mutual Fund
CI Global Asset Management announced on Monday the launch of six ETFs, one of which is an alternative fund that is also offered as a mutual fund. The CI Alternative Diversified Opportunities Fund is a liquid alternatives mutual fund sub-advised by Marret Asset Management Inc., a fund management team with deep experience in alternative fixed-income strategies.
Digital Assets: Crypto Broker Bitpanda Triples Valuation To $4.1B In Five Months
Austrian cryptocurrency broker Bitpanda announced today (August 17, 2021) its raise of $263 million in a Series C round led by Valar Ventures, with the participation of Alan Howard and REDO Ventures, as well as existing investors LeadBlock Partners and Jump Capital. Valar Ventures is the venture capital firm co-founded by U.S. tech billionaire Peter Thiel. The round valued Bitpanda at $4.1 billion, up from $1.2 billion in March, when the startup raised $170 million.
Venture Capital: Craft Ventures Raises $1.12 Billion Across Two Funds
Craft Ventures, an early-stage VC firm of “founders backing founders,” closed earlier this month two funds for a combined $1.12 billion fundraising – Craft Ventures III ($612 million) and Craft Ventures Growth I ($510 million). The new growth fund will round off the firm’s investment strategies, covering startups in both early and growth stages.
Venture Capital: Venture Capitalist Chris Sacca Raises $800M For Climate Funds
Chris Sacca’s Lowercarbon Capital announced Thursday (August 12, 2021) that it raised $800 million “in fiat, to keep unf**king the planet.” “There has never been a better time to start a company focused on emissions reduction or actively removing carbon already in the atmosphere,” Sacca wrote in Cash Cools Everything Around Me, a blog announcing the raise. “The total addressable markets are literally the biggest in history and we have no doubt that multitrillion-dollar market caps are just up ahead.”
Artificial Intelligence: AI-Powered Home Surveillance Imposed On Call Center Employees Working For US Corporations
An NBC News investigation has revealed that Colombia-based call center employees of Teleperformance (EPA: TEP), which has companies such as Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Uber (NYSE: UBER) on its client roster, are being asked to sign contracts allowing for the installation of AI-powered cameras at home. NBC News reviewed such a contract, first issued by Teleperformance in March.
Digital Assets: “Dear Hacker, Please Give Us Back The $600M You Stole.”
In what could be the biggest crypto heist ever, a criminal hacked $600 million worth of tokens from Poly Network. But there’s a twist in the tale. Though the hacker exploited a vulnerability in blockchain network Poly Network and made off with that huge amount, it seems they had a change of heart and have started returning the stolen assets.
FinTech: Millennials Driving Demand For Shariah (Islamic) Banking – Mambu
A survey by SaaS cloud banking platform Mambu found that over half (53%) of young Muslims said they would choose Islamic banking – if barriers to entry were removed, and it became more accessible.
Digital Assets: Melanion Capital Launches First Bitcoin UCITS ETF In The EU
Melanion Capital, a Paris-based asset manager specializing in derivatives and computer-driven strategies, has been greenlighted by French regulators to launch a bitcoin UCITS ETF. This is a major landmark for the adoption of cryptocurrencies because the EU would be a potentially large market and one that has lacked an investment vehicle with the coveted UCITS tag – which signifies higher regulatory protection.
Venture Capital: Refurbed, A Platform For Refurbished Electronics, Nabs $54M
Refurbed, a Vienna-based startup that sells refurbished electronics on its platform, has raised $54 million a Series B round led by Evli Growth Partners and Almaz Capital. Existing investors including Speedinvest, Bonsai Partners, and All Iron Ventures, all participated. New investors Hermes GPE, C4 Ventures, SevenVentures, Alpha Associates, Monkfish Equity, Kreos, Isomer Capital, and Creas Impact Fund also came on board.
Digital Assets: JPMorgan Launches In-House Bitcoin Fund For Private Banking Clients
JPMorgan Chase & Co. (NYSE: JPM), which is led by bitcoin-sceptic CEO Jamie Dimon, is now offering an in-house bitcoin fund to clients at its Private Banking unit, CoinDesk reported. The big-four US bank is said to have partnered with New York Digital Investment Group (NYDIG) for the fund.
Artificial Intelligence: The Pentagon Harnesses AI For “Days-Ahead” Outlook On World Events
NORTHCOM Commander Gen. Glen D. VanHerck revealed that the US Northern command recently completed the third in a series of tests of the Global Information Dominance Experiments (GIDE) with the objective to “leap forward our ability to maintain domain awareness, achieve information dominance and provide decision superiority in competition and crisis.” GIDE is an amalgam of machine learning, sensors around the globe, commercially available information and cloud computing.
Digital Assets: SEC Chairman Gary Gensler Is All For Regulating Cryptos
Speaking on a Bloomberg interview on Tuesday, Gary Gensler, chairman of the United States Securities and Exchange Commission, said he supported more regulatory protection of the crypto space. His comments had a negative effect on the price of bitcoin, the leading cryptocurrency, which at one stage fell below $38,000.
FinTech: Square Plonks Down $29B For Aussie BNPL Giant Afterpay
Jack Dorsey-led Square (NYSE: SQ) announced today (August 2, 2021) its acquisition of Australian fintech and buy-now-pay-later (BNPL) leader Afterpay (ASX: APT) for $29 billion in an all-stock deal. Square will acquire all the outstanding shares of Afterpay at this valuation based on the closing price of Square common stock on July 30, 2021.
Alternative Investments/ESG: Timothy Plan Launches Two ETFs For Biblical Investing
Faith-based investment company Timothy Plans announced Thursday the launch of two new ETFs, namely, the Timothy Plan High Dividend Stock ETF (TPHE) and the Timothy Plan US Large/Mid Cap Core Enhanced ETF (TPLE). In line with the principles of Biblically Responsible Investing (BRI), these ETFs would not invest in companies involved with alcohol, tobacco, gambling, or gambling equipment, or abortion, pornography, anti-family entertainment, or non-biblical lifestyles.
Venture Capital: Exo Raises $220M For Handheld Ultrasound Device
Exo, a company developing a handheld ultrasound imaging device, announced today its $220 million Series C round led by RA Capital Management and joined by BlackRock, Sands Capital, Avidity Partners and Pura Vida Investments. Existing investors also participated in the round.
Alternative Investments/ESG: A Shariah Compliant ETF Tracking China ‘A’ Shares Debuts In Malaysia
Value Partners Group Ltd listed today the VP-DJ Shariah China A-Shares 100 ETF, the world’s first Shariah-compliant A-share exchange traded fund (ETF), on Bursa Malaysia. The ETF provides investors exposure to Shariah-compliant stocks within the China A-Shares equity universe. The ETF tracks the performance of the Dow Jones Islamic Market China A-Shares 100 Index.