This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (22-26.04)
In Brief
Major investments in AI, Web3, and cryptocurrency have been made, with SoftBank investing nearly $1 billion in generative AI, Shiba Inu launching a new blockchain, and Fidelity’s Bitcoin ETF gaining $40 million.
This week saw notable deals in technology and finance, with major investments in AI, Web3, and cryptocurrency. SoftBank announced plans to invest nearly $1 billion in its generative AI infrastructure, with a focus on Nvidia’s chips, aiming to create a Japanese-language AI model by 2025. In the crypto realm, Shiba Inu secured a $12 million investment from leading venture capitalists to launch a new “layer three” blockchain, solidifying its position in decentralized finance (DeFi). Additionally, Fidelity’s Bitcoin ETF gained $40 million from two traditional U.S. financial advisers, marking the largest single investment in a Bitcoin fund. These developments illustrate the growing momentum and cross-industry interest in AI, crypto, and Web3.
SoftBank Invests Nearly $1 Billion in Cutting-Edge AI Push, Utilizing Nvidia’s Advanced Chips to Develop World-Class Generative AI Models by 2025 in Japan
SoftBank, the Japanese tech conglomerate, is set to invest nearly $1 billion to accelerate its push into the generative artificial intelligence (AI) space, with a significant focus on Nvidia’s advanced chips, according to sources. The company plans to spend 150 billion yen ($960 million) by 2025 to strengthen its computing infrastructure and kickstart the development of a world-class Japanese-language generative AI model. The investment is poised to make SoftBank a key domestic player in Japan’s burgeoning AI market, where the company aims to develop an advanced large language model (LLM) with 390 billion parameters by 2024. This ambitious move comes as international tech giants like OpenAI and Microsoft are also expanding their AI presence in Japan.
Crypto VCs Invest $12 Million in Shiba Inu’s New Blockchain, TREAT Token to Drive DeFi Expansion
Shiba Inu (SHIB), the popular memecoin, is making a significant leap into decentralized finance (DeFi) with a new “layer three” blockchain backed by a $12 million investment from leading crypto venture capitalists. This funding round, involving Animoca Brands, Big Brain Holdings, Mechanism Capital, DWF Ventures, and Spirit Dao, is set to propel SHIB’s ecosystem with the launch of TREAT, a utility and governance token designed to support the nascent blockchain network. The TREAT blockchain, built on Shibarium’s layer-2 platform, is positioned to enhance SHIB’s utility and provide innovative privacy features through “Fully Homomorphic Encryption” (FHE), allowing secure data processing without decryption.
Fidelity’s Bitcoin ETF Gains $40 Million from Traditional Financial Advisers
Legacy Wealth Management and United Capital Management of Kansas have contributed a record $40 million to Fidelity’s Bitcoin exchange-traded fund (ETF), the Wise Origin Bitcoin Fund (FBTC). It was the largest single investment in a Bitcoin fund, with each contributing $20 million. This large money inflow is indicative of conventional finance’s rising interest in bitcoin assets. Though Jim Bianco of Bianco Research points out low mainstream engagement, Bloomberg analyst Eric Balchunas interprets it as an indication of wider acceptance. With net withdrawals of $36.7 million on April 15, Bitcoin ETF interest is slowing down despite the $40 million commitment.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
