Good morning, tech fam; here are some quick tech updates for you to catch on to!
What’s New Today: India’s first semiconductor chip, built by Tata Electronics, is set to launch in late 2025, pushing the country closer to self-reliance in chipmaking.
Fast-Track Insights: New-age tech stocks have suffered a major blow, losing nearly $4 billion in market cap, with Ola Electric seeing a steep 10% drop.
Here’s a quick rundown of the biggest tech headlines making waves today. Let's dive into the day's top tech stories, from India’s semiconductor ambitions to the massive losses in tech stocks.
Union Minister Ashwini Vaishnaw announced that India's first indigenous semiconductor chip, developed by Tata Electronics in collaboration with Powerchip Semiconductor Manufacturing Corporation, is slated for launch by September or October 2025. This initiative is part of the Semicon India program, which aims to establish a comprehensive semiconductor and display manufacturing ecosystem in the country.
This week, new-age tech stocks saw a significant decline, losing nearly $4 billion in market capitalization. Ola Electric experienced a notable drop of over 10%, reaching an all-time low. Other companies such as RateGain, Tracxn, Yudiz, Delhivery, and MobiKwik, also hit fresh lows. In contrast, Fino Payments Bank emerged as the top gainer, with shares rising 3.56% to INR 222.60.
This hiring season, top business schools experienced a significant increase in job offers from startups and e-commerce companies such as Zomato, Flipkart, and Amazon. This surge is attributed to business expansions and digital transformation initiatives. Compensation packages ranged from ₹20 to ₹54 lakh per annum, with high demand for roles in technology, product management, and operations.
To protect yourself from AI-driven fraud, it's crucial to stay vigilant and informed. Always verify the authenticity of communications, especially unsolicited ones, by cross-checking with known contacts or official channels. Be cautious of deepfake technologies that can convincingly mimic voices or images of trusted individuals. Regularly update your knowledge about emerging AI threats and employ security measures like multi-factor authentication to enhance digital safety.
European Central Bank (ECB) official François Villeroy de Galhau cautioned that the U.S. administration's promotion of crypto-assets and non-bank finance could lead to future financial upheavals. He expressed concerns that such policies might undermine traditional banking systems, potentially triggering the next financial crisis.