Financial News
Focus on Metanomic's "Thunderstruck" player analysis platform - Actu IA
Metanomic, a game economics and player analytics company, announced in September the launch of its player analytics platform Thunderstruck, using AI based on Bayesian inference and aiming to revolutionize game developers' use of behavioral data to improve retention and monetization. Metanomic is a software company founded in November 2021 by Theo Priestley, Bronwyn Williams and Evan Pappas. A comprehensive real-time economy-as-a-service platform for developers, it uses patented algorithms to easily deploy plug-and-play, interoperable and scalable game and creator economies ready for web3, metavers and play-and-earn games. The company has secured $2.9 million in pre-seed funding. On May 18, it announced the acquisition of Intoolab AI, a company specializing in Bayesian network-based artificial intelligence, to develop and improve data analysis in video games and on the Web3.
Dabbsson raises $75M to power decentralized home energy ecosystem
Check out all the on-demand sessions from the Intelligent Security Summit here. Dabbsson has raised $75 million to power a decentralized home energy ecosystem using AI and EV-grade technology. The company will use the funding to bring smarter, safer, and greener home energy innovations to eco-minded consumers. This winter, with a cold front sweeping across the U.S., an estimated 25% of Americans are at risk for power blackouts and grid emergencies in the face of extreme cold and severe weather. Traditional centralized power grids remain highly fragile, unreliable, expensive, and wasteful -- with outdated infrastructures vulnerable to mere single points of failure and volatility in global gas, coal, and oil markets.
10 Machine Learning Stocks to Invest in to Become a Millionaire
Investors are in search of Machine Learning stocks to invest in, observing a rapid increase in the use of machine learning across various sectors, including technology, healthcare, automotive, retail, advertising, defense, and financial services, as it is one of the key factors driving growth in ML stocks to become a millionaire. According to a Business Insights industry analysis report, the global machine learning market was worth $15.4 billion in 2021 and is projected to grow to more than $21 billion in 2022. By the end of 2029, the machine learning stock market is projected to be worth $210 billion and growing at a compound annual growth rate of 38.8% between 2022 and 2029. So, it is important to know the top companies and Machine Learning stocks to invest in to become a millionaire. International Business Machines Corporation (NYSE: IBM) and the Saudi Data and Artificial Intelligence Authority established a strategic partnership on September 27 to deploy artificial intelligence for carbon capture throughout the Kingdom of Saudi Arabia.
Senior Connect Signs Letter of Intent for a Business Combination
Senior Connect Acquisition a publicly traded special purpose acquisition company, has announced that it has entered into a non-binding letter of intent ("LOI") for a business combination with Avellino Lab USA, Inc. ("Avellino"). Avellino, a leader in precision medicine, is making a global impact in genetics and bringing innovative diagnostics, therapies, and AI-driven data processing to patient care. Recommended AI: How is Artificial Intelligence (AI) Changing the Future of Architecture? Under the terms of the LOI, the Company and Avellino would become a combined entity, with Avellino's existing equityholders exchanging their shares in Avellino for equity in the combined public company. The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is executed, which is expected early in the first quarter of 2023.
Simfoni Announces the Acquisition of Xeeva, Leader in Indirect Spend Management Solutions
Simfoni, the next-generation digital solutions provider for procurement intelligence, eSourcing and tail spend management, announced that it has acquired Michigan-based Xeeva, a fellow leader in AI-powered spend management and procurement technology solutions. This will be Simfoni's second strategic acquisition in 2022, as the company continues to leverage synergistic opportunities to deepen its solution and support competencies, accelerate growth, and solidify market dominance in indirect (tail spend) management and AI-driven spend analytics and eSourcing solutions. This acquisition marks another significant milestone for Simfoni whose goal is to deliver best-in-class, composable, spend management solutions on a global scale. Over the last year, Simfoni has been the recipient of a litany of industry awards and acknowledgements which have further strengthened its global positioning as a recognized market leader in tail spend management. It is anticipated that this latest acquisition will fortify Simfoni's place as one of the top 10 procurement technology providers, globally. Simfoni's innovative Composable Procurement approach combined with its deep domain expertise has collectively provided the company with a competitive edge as procurement teams look outside traditional solutions to achieve superior spend visibility and automation.
NextGen Healthcare Announces Agreement to Acquire TSI Healthcare
NextGen Healthcare, a leading provider of innovative cloud-based healthcare technology solutions, announced it has signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition shall be deemed effective 11:59 p.m. on November 30, 2022. The consideration is comprised of an upfront amount of $68 million, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. The company plans to update guidance when it reports its fiscal 2023 third quarter results.
Cogent Growth Partners Assists rockITdata in Acquisition of Pharos Group
Cogent Growth Partners (CGP), the leading buy-side intermediary for IT Services mergers and acquisitions, announced that it advised rockITdata in their recent strategic acquisition of Pharos Group, Inc. "Alignment of cultures and fit of the opportunity are two of the most important factors needed to assure M&A success," said George Sierchio, Executive Vice President and Senior Partner, Cogent Growth Partners. "rockITdata and Pharos Group share vast federal government market expertise and a very similar cultural with both companies being designated as Service-Disabled Veteran-Owned Small Businesses, which, when combined with rockITdata's deep AI and ML-enabled technology, should position them well for their business objectives surrounding revolutionary changes in this technology landscape." Recommended AI: "Bitcoin Has No Intrinsic Value". Then What Gives Bitcoin Value? Founded in 2019, rockITdata has rapidly ascended the cloud integration market, becoming an AWS Advanced Tier Partner and Public Sector Service Provider.
Artificial intelligence stocks tumble as economic concerns complicate growth
Investors and analysts are starting to push beyond the hype about artificial intelligence and ask more questions about AI software companies' near-term growth prospects. Professional service and software providers including Palantir Technologies Inc., C3.ai Inc. and Veritone Inc. market themselves as AI companies with high growth potential, offering services to enhance enterprise analytical capabilities in sectors like cybersecurity and telecommunications. But amid a tech market downturn, these companies are struggling to convince Wall Street they can withstand the pressures of a weakened macroeconomic environment. "We believe chunky data analytics projects are more likely to be put on hold in a weaker growth environment," Goldman Sachs analysts said in a Nov. 8 note following Palantir's third-quarter 2022 earnings call. All three stocks have been hard-hit amid the broader sell-off in tech stocks in 2022, with Palantir and C3.ai both down about 59% year-to-date as of Nov. 23.