Good morning, tech fam; here are some quick tech updates for you to catch on to!
What’s New Today: Nvidia Hit by $5.5B Loss Amid US-China Chip Curbs
Fast-Track Insights: Karnataka Tech Funding Falls 23% in Q1 2025
Here’s a quick rundown of the biggest tech headlines making waves today. From the Nvidia Hit by $5.5B to PIA Launches Hiring, let’s dive into the top tech stories of the day.
Nvidia expects a $5.5 billion revenue hit this quarter after the U.S. imposed new licensing rules on exports of its H20 AI chips to China and other regions. The H20, designed for the Chinese market under prior export limits, had earned billions despite restrictions. With sales in China already halved and growing pressure from Huawei, the new rules present a major setback. Nvidia shares fell over 6% following the announcement. The chip giant, whose stock surged 1,400% since 2020, now faces renewed volatility amid intensifying U.S.-China trade tensions. Q1 earnings are scheduled for May 28.
Karnataka’s tech startups raised $633 million in Q1 2025, a 23% drop from Q4 2024 and 46% lower than Q1 2024, according to Tracxn. No new unicorns or mega funding rounds were recorded. While seed and late-stage funding declined, early-stage funding rose 34% to $294 million. Enterprise applications led with $298.6 million, followed by fintech and retail. Bengaluru accounted for over 99% of total funding. M&A activity surged with 21 deals, including Amazon’s $150 million acquisition of Axio. Top investors included Accel, Blume Ventures, and Sequoia Capital. The report highlights a broader pullback in Karnataka’s tech investment landscape.
Pakistan International Airlines (PIA) has launched a recruitment drive to hire 20 pilots and 40 cabin crew members to address staff shortages. Captains must be under 50 and First Officers under 40, while flight attendants must be under 25 (or 30 for experienced women). A graduate degree is required for cabin crew applicants. The initiative aims to enhance operational efficiency and service quality on domestic and international routes. PIA also clarified that the UK Department for Transport has not made any decision about resuming flights from Pakistan, urging the public to avoid spreading misinformation.
China is grappling with how to handle a growing cache of cryptocurrencies seized from criminal cases, amid a national ban on crypto trading. Local authorities currently use private firms to convert tokens into cash, but the practice lacks clear legal guidance and raises concerns over corruption. Legal experts, judges, and police are urging regulatory reform to treat seized digital assets uniformly. As crypto-related crimes surge—reaching 430.7 billion yuan in 2023—calls are mounting for judicial recognition of crypto and potential central bank oversight or reserve creation.
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