Tesla Motors, Inc. (NASDAQ:TSLA), (AMOM) – AI-Driven Asset Management Startup, Catapulted To Fame By Tesla Trades, Raises $146M From SoftBank

Fintech group focused on artificial intelligence Qraft Technologies Inc. It said it received an investment of $146 million from a Japanese conglomerate SoftBank Group Company. (Out of the cabin: SFTBY).

What happened: Qraft said the investment includes the growth of primary capital and secondary capital that will be used to fund stock purchases from investors.

The South Korean-based startup expects SoftBank’s investment to accelerate its ongoing expansions in the United States and China. The parties will also develop AI-powered public portfolio management systems for SoftBank.

Qraft CEO Marcus Kim He said his company’s partnership with SoftBank marked the beginning of an artificial intelligence technology that fundamentally changed the $100 trillion asset management industry.

SEE ALSO: Popular robot-powered ETF says that’s why it now has Tesla as its best contract

why does it matterQraft develops and operates deep learning-based algorithms that provide portfolio analysis to financial institutions.

The company sought to demonstrate the performance of its artificial intelligence engine in all of its exchange-traded funds (ETFs) listed on the New York Stock Exchange.

the Qraft Foundation for AI-Enhanced Momentum in the US (NYSE: AMOM) has become popular due to accurate prediction of electric car maker price movements Tesla Corporation (NASDAQ: TSLA) is involved in multiple cases.

The ETF revealed in December that Tesla was its biggest company during that month.

price movement: AMOM shares closed down nearly 3.6% in the regular trading session on Thursday at $32.07 and also lost 2.5% in the after-hours session to $31.49.

SoftBank shares closed down nearly 3.2% in the regular trading session at $24.05.

Now Read: Cathy Wood Sells Another $3 Million Shares In Tesla On Wednesday — Here’s What She Bought Instead

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