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Former Scottish First Minister Alex Salmond has died at 69, according to statements from Scotland’s main political parties and UK media reports.

Salmond was taken ill while in North Macedonia, collapsing after delivering a speech on Saturday, according to British media reports.

“I will never be able to thank Alex for all his lessons, advice, guidance, mentorship, love and friendship and for everything he did for Scotland. For many years he was the father of the nation and for several years he has been a father-like figure to me. All of our thoughts are with all of the family and everyone across Scotland who are in mourning,” the General Secretary of Alex Salmond’s Alba Party Chris McEleny said Saturday.

British Prime Minister Keir Starmer said: “For more than 30 years, Alex Salmond was a monumental figure of Scottish and UK politics. He leaves behind a lasting legacy. As First Minister of Scotland he cared deeply about Scotland’s heritage, history, and culture, as well as the communities he represented as MP (member of parliament) and MSP (member of the Scottish parliament) over many years of service. My thoughts are with those who knew him, his family, and his loved ones. On behalf of the UK government, I offer them our condolences today.”

Salmond stood down as first minister and SNP leader following defeat in the September 2014 referendum on Scottish independence, which he had long championed. He was replaced by First Minister Nicola Sturgeon. He later campaigned for Scotland’s independence under the newly formed Alba Party, which he founded in 2021.

After losing his seat in parliament, Salmond remained a major figure in both Scottish and British politics, working as a commentator and hosting the Alex Salmond Show on Russian state broadcaster RT.

In 2018, he took the country’s government to court over accusations of sexual misconduct made against him. Salmond said the Scottish government denied him the opportunity to properly defend himself against the claims, which related to his alleged behavior toward a member of staff at the official Bute House residence, according to the Daily Record of Scotland.  Salmond was eventually cleared of all charges by a jury in a March 2020 trial.

“The sad news of Alex Salmond’s passing today will come as a shock to all who knew him in Scotland, across the UK and beyond. Our thoughts are with his family and friends at this difficult time and on behalf of Scottish Labour I offer our sincere condolences to all who will be mourning his loss,” said the leader of the Scottish Labour Party Anas Sarwar. “Alex was a central figure in politics for over three decades and his contribution to the Scottish political landscape cannot be overstated.”

The Scottish National Party (SNP) also reposted multiple Scottish media reports of Salmond’s death on social media.

This is a developing story and will be updated.

This post appeared first on cnn.com

Police in Toronto, Canada, are opening a hate crime investigation after shots were fired overnight into the window of a Jewish girls’ elementary school – the second time this year the school was targeted by gunfire, officials said.

The incident occurred around 4 a.m. Saturday at the Bais Chaya Mushka Girls Elementary School on Yom Kippur, the Jewish Day of Atonement and the holiest day of the year in Judaism, Toronto Police Service Inspector Paul Krawczyk said at a news conference.

No arrests have been made and police are not releasing information about suspects at this time, Krawczyk said. The investigation into the incident will be led by the agency’s Gun and Gang Task Force with assistance from its hate crime unit, he added.

There were no injuries or reports of gunshots heard, and the building was empty because the school is currently closed for the Jewish High Holidays, Krawczyk said. In a news release, police said the suspect or suspects were in a motor vehicle when they discharged a firearm at the school. Evidence of gunfire was located at the scene, the release said.

The same school was also hit with gunfire in a similar incident in May, Krawczyk said.

“I appreciate the significant trauma that this can cause those in the Jewish community,” he said. “While we can’t say whether these incidents are connected at this time, it’s certainly a key aspect of our investigation.”

Krawczyk said officials would consider releasing video camera footage from the incident, which will be examined as part of the investigation. The agency has increased police presence in Jewish neighborhoods in recent weeks and will also do so at the school as the investigation unfolds, Krawczyk said.

“We’re asking anyone who is in the area or who could have dash cam footage or other CCTV footage to please step forward and provide us with that evidence. Your help is vital to the work we do and to find those responsible,” he said.

Canadian Prime Minister Justin Trudeau released a statement on the shooting, saying: “I’m very disturbed to hear that last night, as families marked Yom Kippur, there were shots fired at a Jewish school in Toronto.”

“As we wait for more details, my heart goes out to the students, staff, and parents who must be terrified and hurting today,” Trudeau said on X. “Antisemitism is a disgusting and dangerous form of hate — and we won’t let it stand.”

This post appeared first on cnn.com

It seemed like an unlikely stage for Kanye West to unveil his new music.

But last month the American rapper – now known as Ye – held not just one but two sold-out “listening parties” in China, a country that imposes some of the toughest censorship in the world.

Playing on the southern Chinese island of Hainan, his first concerts in the country in 16 years, Ye astounded fans by announcing his new album “Bully” and left some wondering why the country’s ruling Communist Party would allow such a controversial artist to perform.

Just six years ago, Chinese authorities clamped down on hip-hop, blacklisting songs and dropping rappers from shows. Its media regulator banned Chinese television from featuring “actors with tattoos (or depict) hip-hop culture, subculture and immoral culture.” One Chinese rapper, PG One, even apologized for lyrics that came under fire for glorifying drugs and sex.

As well as his own frequent lyrical references to sex and drugs, along with cutting social and political commentary, Ye has made a number of controversial statements in his personal life. He wore a “White Lives Matter” T-shirt in public, and an antisemitic outburst he made lost him an extremely lucrative sneakers deal with German brand Adidas.

Yet, he managed to stage his “Vulture Listening Experience” at the Wuyuan River Sports Stadium in Hainan’s provincial capital Haikou, an arena with more than 41,000 seats, on September 15 and September 28.

He is among a growing number of Western artists returning to the world’s second-biggest economy since the lifting of Covid restrictions.

The Chinese Communist Party, which views popular culture as a key ideological battleground, has long kept the entertainment sector on a tight leash with stringent censorship. But it has also encouraged its growth, especially its domestic industries like film and music, often using them to instill patriotism.

Under Chinese leader Xi Jinping, the party has grown ever more focused on ideological and cultural control. The dazzle of stardom and the frenzy of fandom are increasingly viewed as a dangerous, pernicious influence – especially on the country’s youth.

In 2021, the party cracked down on China’s entertainment industry and what it called “toxic” celebrity culture, accusing it of “advocating wrong values” to Chinese youth.

Experts say Ye’s shows could mark a turning point. Allowing him to play shows in China “sends a signal that Western artists are welcome to play in China if they comply with local restrictions,” said Chen Dan, an associate professor at the University of Richmond’s political science department.

Several other American megastars have also recently set their eyes on performing in China.

Mariah Carey performed two shows in Beijing in September, sharing photos on X of her visiting the Great Wall of China with her children. John Legend also played gigs in Beijing and Shanghai in October.

American singer Charlie Puth is also set to perform in China in early December.

Boosting China’s economy

Letting in these Western stars could be a way for Beijing to boost consumer spending, Chen says, as it tries to revive a flailing economy plagued by high youth unemployment, a protracted property crisis and lukewarm consumer confidence.

In recent weeks, the country has unveiled a raft of stimulus measures, including freeing commercial banks to lend more money and making borrowing cheaper. The government also announced rare cash handouts to disadvantaged citizens while pledging subsidies for recent graduates struggling to find a job.

“The primary motivation for approving Kanye West’s performance may be commercial, that is, to revive the cultural and tourism industry,” Chen said. “China needs commercial revival and more cultural exchange.”

Chinese state media has boasted about the economic benefits Ye’s concerts brought to the tropical island, praising the rapper for “not only firing up his fans, but also sparking a surge in the local holiday tourism economy.”

Almost all fans at his first performance came from outside the province, with the highest ticket sales recorded in major cities such as Shanghai and Beijing, according to state-run China Daily.

Ye’s first show coincided with the first day of the Mid-Autumn festival holiday, and the average hotel occupancy rate in Haikou jumped by about a half to 83%, year on year, on the same holiday a year earlier. Travelers generated an estimated 373 million yuan ($52.6 million) in tourism revenue for the port city, according to state-run news agency Xinhua.

China’s growing music market also represents a massive opportunity for artists and labels looking to expand their audiences and generate revenue, and for domestic companies looking to capitalize off the growth.

One of the fastest-growing in the world, China’s music market became the fifth-largest market globally in 2022, according to IFPI, a trade body for the recorded music industry. China’s recorded music revenues grew 28.4% in 2022 from the year prior, compared with the global market rise of 9%, IFPI said.

But the embracing of foreign acts also poses a conundrum for Beijing.

“Local governments always want more concerts and activities to boost [the] local economy, while the higher authorities allegedly require more and more vetting of lyrics and contents,” said Hung Ho-fung, sociology professor at Johns Hopkins University.

Top stars blacklisted

But while there is a strong financial incentive to crack China’s market, the country’s tough censorship and stringent oversight of performances, including the unpredictability of having shows canceled at the last minute, have presented challenges for artists in the past.

In 2015, two fairly uncontroversial American rock bands – Bon Jovi and Maroon 5 – both had planned shows in Beijing and Shanghai abruptly canceled.

Bon Jovi’s management did not address media queries at the time but social media users speculated the decision may have stemmed from the band’s 2009 video for “We Weren’t Born to Follow,” which featured imagery of the 1989 Tiananmen Square pro-democracy protests in Beijing – a taboo topic for the Chinese government. Others pointed to a 2010 Bon Jovi gig in Tokyo that featured images of the Dalai Lama – a staunch enemy of Beijing – on the stage background.

In the case of Maroon 5, no official reason was given but many speculated that permits had been pulled over a band member wishing the Dalai Lama happy birthday on social media.

Similarly, promoters for Oasis said they were forced to cancel mainland China shows in 2009 after authorities reportedly discovered a member of the British rock band had played at a Tibetan Freedom gig two years earlier. The rest of the band’s Asia tour, including a concert in Hong Kong, went ahead as planned.

Other US musicians such as Justin Bieber, Jay-Z and Lady Gaga have been barred from even entering China.

Bieber “engaged in a series of bad behaviors, both in his social life and during a previous performance in China,” China’s Ministry of Culture announced in 2015, without going into details.

American rapper Jay-Z’s debut concerts in the country were canceled in 2006 because the Ministry of Culture “decided to protect the city’s hip-hop fans from nasty lyrics about pimps, guns and drugs,” according to state-run newspaper China Daily.

Some analysts and Chinese fans have speculated whether Ye may have gotten a pass to perform in Hainan because of his brief time living in China as a child. The rapper lived in the eastern Chinese city of Nanjing for a year while his mother was teaching at Nanjing University, according to China Daily.

“Kanye West’s childhood experience in Nanjing may have made him an artist to welcome in China,” Chen, from the University of Richmond, said.

Ho, from Johns Hopkins, said it’s too early to tell whether Ye and others’ progress in China will inspire more artists to play there.

Logistical challenges like securing visas, obtaining permits and official approval, play a major role in the decision-making process for bands and their management, which are also concerned about the backlash of having to self-censor and staging up a show deprived of spontaneity.

“This tightening scrutiny, on top of the sluggish economy, makes many foreign performers simply decide not to bother and skip China,” he said.

But he added: “If the recent stimulus works, and leads to a genuine and sustained rebound of consumption, Western entertainers’ calculation may change and (they may) become more willing to take the trouble and the risk.”

This post appeared first on cnn.com

S&P 500 and Nasdaq: Targets and Prices for Friday

  • On Wednesday, a new all-time high for the S&P 500 was formed at the 5797.8 level
  • On Thursday, we saw the Nasdaq index jump to 20325.5, a new October high

S&P 500 chart analysis

On Wednesday, a new all-time high for the S&P 500 was formed at the 5797.8 level. After that, the index goes into lateral consolidation in the 5765.0-5795.0 range. Today’s picture is slightly bearish because we are retreating to the upper zones. We are currently at 5775.0 and testing the EMA 50 moving average along with the lower level of this sideways range. If support is not enough, the S&P 500 will be forced to retreat to a new daily low.

Potential lower targets are $5760.0 and $5750.0 levels. If we get support from the EMA 50 moving average, we expect to see the initiation of a bullish consolidation and return to the daily open level. The S&P 500 will have enough momentum to move above. A new support would be ideal for a continuation to a new all-time high. Potential higher targets are 5800.0 and 5810.0.

 

Nasdaq chart analysis

On Thursday, we saw the Nasdaq index jump to 20325.5, a new October high. The index loses momentum at that level and moves to the 20200.0 support level. During this morning’s Asian trading session, pressure on the index intensified in the 20300.0 zone, and we saw a drop from the 20180.0 level. We have fallen below the EMA 50 moving average, and it is now an additional pressure that could strengthen the bearish momentum.

Potential lower targets are 20100.0 and 20000.0 levels. The Nasdaq needs to stay above the weekly open level until the end of the day because that would leave it on the bullish side. If we manage to get the support of the EMA 50 moving average at 20200.0, the index could start a bullish consolidation. After that, we will see a return above the daily open level and a test of the weekly high. Potential higher targets are 20400.0 and 20500.0 levels.

 

The post S&P 500 and Nasdaq: Targets and Prices for Friday appeared first on FinanceBrokerage.

Yesterday, we posted a short video about the lack of participation within the mid-and small-cap universes. Here, we had a rally to new all-time highs, yet we weren’t seeing much of anything out of the broad market. Today was a reversal of fortune for these indexes, which rallied more strongly than the large-cap indexes. Check out today’s less-than-three-minute video on the new participation numbers.


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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin


(c) Copyright 2024 DecisionPoint.com


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.


Helpful DecisionPoint Links:

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Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

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SCTR Ranking

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In this StockCharts TV video, Mary Ellen highlights what’s driving these markets higher despite a rise in interest rates. She also focuses on the leadership area in Technology and shares several stocks from this group. Last up, she reviews how to quickly uncover top stock candidates when a new sector turns bullish.

This video originally premiered October 11, 2024. You can watch it on our dedicated page for Mary Ellen on StockCharts TV.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

I was asked recently about volume, specifically why I don’t feature volume often on my daily market recap show, CHART THIS with David Keller, CMT.  I replied that when I was learning the technical analysis toolkit earlier in my career, I very much paid attention to volume indicators.

But in the years to follow, I developed a process that focused more on trend and momentum, and I felt the approach worked quite well despite the lack of volume inputs.  But there is one indicator that has been fairly successful at recognizing market turns over the last year, and it’s a chart I will be following closely in the weeks to come.

Volume to Chaikin Money Flow

First, let’s talk about how we measure volume over time.  The easiest way to represent volume is with the daily volume bars, helping us determine if today’s volume is above or below average.  And while that can be helpful for navigating the short-term environment, it doesn’t help us assess how volume is evolving over time.

Famous strategist Joe Granville developed the concept of “On Balance Volume” where he created a cumulative total of volume by adding up days’ volume and subtracting down days’ volume.  Similar to an advance-decline line, it does help to indicate the general directional trend in volume.

The issue here is that we’re taking an entire day’s volume and considering it all bullish or all bearish, depending on whether the close was higher than yesterday.  What about if we finished at the high or the low of the day.  Shouldn’t that matter in some way?

An Advance-Decline Line for Volume

Another legendary technician, Marc Chaikin, improved on Granville’s work by looking at every day’s price bar.  If the close was closer to the high, then that day’s volume should be worth more in the running total.  And if the close was near the middle of the range, that day’s volume should be worth less in the calculation.

Now we can see the running total of daily volume, but with more value given to the days with highs near the high or low for the day.  So big up days and down days become much more important when we consider the overall trend in volume.

When the indicator is above zero it’s shaded green, and long-term uptrends often feature extended periods of green.  When the indicator is below zero, represented with the red shading, this suggests a period of distribution as the down volume appears heavier.

Watching for Volume Divergences

While crossing below the zero line would represent a general rotation in volume from more accumulation to distribution, the real benefit of this indicator is in the early warning sign based on divergence.

As the market was moving higher in July 2023 into the eventual August high, we saw a decline in the Chaikin Money Flow.  We observed a similar pattern in March 2024, as the SPY pushed higher even as the CMF was trending lower, as well as in July 2024.

Notice how the current reading shows the Chaikin Money Flow reading as still quite strong for the S&P 500?  This suggests that the market is still in a position of strength, given the stronger bullish volume in recent weeks.  But this chart also tells us to keep a wary eye on the CMF in the coming weeks.  Because a bearish divergence here could provide an early warning sign to mindful investors staying attuned to the rhythm of the markets.

Heads up!  We just launched our new podcast, Market Misbehavior with David Keller, CMT, in October!  Check out our recent interviews with Mark Newton, Joe Rabil, Mish Schneider, and Mike Livingston.  Lots more great conversations coming your way very soon!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

The Cybersecurity ETF (CIBR) is resuming the lead as it surged to new highs this past week. It is important to note that CIBR began its leadership role a lot earlier because it hit a new high in late August. Today’s report will analyze the recent breakout and suggest some possibilities in the future. 

First notice that the Technology SPDR (XLK) and five tech-related ETFs are leading in October (semis, cybersecurity, software, fintech and cloud). They are up 2% or more and easily outperforming the major index ETFs (SPY,QQQ,IWM). The tech ETFs underperformed in July-August and are now getting their mojo back.

 

I featured CIBR in Art’s Charts on September 14th, demonstrating how to use the Percent above MA (5, 200) to define the trend and reduce whipsaws. In an long-term uptrend, stocks and ETFs experience both trending and non-trending periods, with the latter often lasting longer.

The chart below shows CIBR trending higher from late October 2023 to mid-February 2024, less than four months. A non-trending period followed and lasted over six months. Most recently, the ETF broke out of this range and entered a new trending period. I expect this trending period to last a few months and prices to extend higher.

The breakout zone around 59 (red line) turns into the first support area to watch in case of a throwback. Throwbacks occur when prices fall back to the resistance zone after a breakout. Overall, support is marked in the 59-60 area, and a pullback to this zone would provide a second chance to participate in the breakout.

TrendInvestorPro is focused CIBR, tech-related ETFs and tech stocks as they move from corrective non-trending periods to trending periods. We think the market is looking past the elections and toward seasonal patterns, which soon turn bullish. Opportunity awaits! Click here to learn more.

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“Using Breadth for Capitulation, Thrusts, Market Regime and Oversold Conditions”. This report covers four ways to utilize breadth indicators. Capitulation conditions often signal major lows, while thrust signals indicate the start of a bullish phase. Market regime helps distinguish between bull and bear markets, and oversold conditions identify tradable pullbacks within bull markets. We explain the indicators, settings, and signals for each scenario.

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Highlights from Recent Weekly Reports/Videos:

October 4th Report: We identified bullish breakouts in several tech-related ETFs (QQQ, XLK, MAGS). Additionally, we noted continued strong performance from software and cybersecurity (IGV, CIBR). The report also showcased bullish continuation patterns for three leading AI stocks and identified two bullish setups in the healthcare sector.

September 19th Report: We began with our breadth model, which has maintained a bullish stance since December 7th. Narrowing yield spreads continue to show confidence in the credit markets. The report featured bullish setups in ETFs related to copper, base metals, copper miners, and palladium (CPER, DBB, COPX, PALL).

Click here for immediate access!

/////////////////////////////////////////////////

(TheNewswire)


Vancouver, British Columbia The Newswire October 11, 2024 Hertz Energy Inc. (CSE: HZ; OTCQB: HZLIF; FSE: QE2) (the ‘ Company ‘) announced today the resignation of independent director Bala Pratap Reddy Udumala from the Company’s Board of Directors (the ‘ Board ‘).

Bala Pratap Reddy Udumala joined the Company in August of 2019 and has been a valuable member of the Board of Director.  ‘On behalf of the Board and management, we would like to thank Pratap for his valuable contribution as a director of the Company and throughout his subsequent tenure.  We wish him the best with his future endeavours,’ expressed Kal Malhi, CEO of the Company.

The Board will begin a search for a new Independent Director and will notify the market when a replacement has been interviewed and selected.

About the Company

The Company is a British Columbia-based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company’s lithium exploration projects include the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the district scale AC/DC Lithium Project and Snake Lithium Project, both located in James Bay, Quebec.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedar.com.

On Behalf Of the Board of Directors

Kal Malhi

Chief Executive Officer and Director
Phone: 604-805-4602

Email: kal@bullruncapital.ca

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. ‘ United States ‘ and ‘ U.S. Person ‘ are as defined in Regulation S under the U.S. Securities Act.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2024 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Suki AI, a healthcare-focused startup, has secured US$70 million in a Series D funding round aimed at further developing its artificial intelligence (AI) assistant tools for hospitals and medical providers.

Reuters reported that the latest round brings the company’s total funding to US$165 million and, according to sources familiar with the deal, valued Suki at around US$500 million.

Founded in 2017 by Punit Soni, a former Google (NASDAQ:GOOGL) and Flipkart executive, Suki specializes in developing AI-powered voice assistants designed to alleviate the administrative burden placed on healthcare professionals.

The company’s flagship product, Suki Assistant, is widely used to streamline clinical documentation tasks such as retrieving patient information from electronic health records, taking medical notes and assigning standardized medical codes.

These functions enable healthcare providers to focus more on patient care while reducing time spent on data entry. For instance, Suki Assistant’s speech recognition feature allows doctors to generate medical notes more quickly, helping them complete tasks like reviewing patient histories and summarizing visits with less manual input.

Additionally, the AI can automate the coding of diagnoses and procedures using the ICD-10 system, streamlining the process of documenting patient encounters.

Suki’s products have gained traction as healthcare systems increasingly explore AI solutions to optimize clinical workflows. Since its inception, the company has established partnerships with over 300 health systems and healthcare providers.

Suki’s AI tools also integrate with major electronic health record platforms, such as Epic, Oracle’s Cerner, Athena and MEDITECH, giving it one of the broadest EHR integration portfolios in the industry.

Through the funding, the company aims to enhance the company’s product offerings and accelerate product development.

Despite the momentum, Suki faces competition from several key players in the market, as the healthcare industry has been increasingly adopting AI technologies in recent years.

Microsoft-owned Nuance, which offers Dragon Medical One, is another major presence in the space of AI-based speech recognition and clinical documentation tools. Other startups, such as Abridge, which has raised US$150 million, are also vying for a share of the growing medical AI sector.

Suki has managed to accelerate its growth ahead of its competition. One recent development includes a partnership with Maryland-based MedStar Health, which is rolling out Suki AI to thousands of its clinicians.

According to the company, over a dozen other healthcare systems have either adopted the platform or expanded their use of it within the past two months.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com