Good morning, tech fam; here are some quick tech updates for you to catch on to!
What’s New Today: The U.S. government has placed restrictions on selling chips for use in supercomputers in China
Fast-Track Insights: Irish tech startup Assiduous has raised a €1 million funding round for its Corporate Finance Autopilot.
Here’s a quick rundown of the biggest tech headlines making waves today. Let's dive into the day's top tech stories, from Nvidia’s sales restrictions in China to Cognizant Recruitment 2025.
Nvidia announced a $5.5 billion charge following new US government restrictions on exporting its H20 AI chips to China. The H20, designed to comply with earlier export controls, is now restricted due to concerns over its potential use in Chinese supercomputers. Major Chinese tech firms like Tencent, Alibaba, and ByteDance had increased orders for the H20, making it central to Nvidia's China strategy. The restrictions led to a 6% drop in Nvidia's shares in after-hours trading.
Irish fintech startup Assiduous has secured €1 million in funding to advance its AI-driven "corporate finance autopilot" platform, designed to assist small and medium-sized enterprises (SMEs) in accessing capital markets. The investment, sourced from EIT Digital and Enterprise Ireland's Pre-Seed Start Fund, will support the platform's development and its collaboration with Euronext to facilitate SME listings. Founded by investment bankers Fergal Meegan and Barry Murphy, Assiduous aims to democratize financial tools for SMEs.
Cognizant has announced its internship and graduate hiring program for the 2025 batch, targeting engineering students from the 2024 cohort. The initiative includes roles under GenC, GenC Pro, and GenC Next, with salaries ranging from ₹4 LPA to ₹6.75 LPA. Eligible candidates must have a consistent academic record with a minimum of 60% in X, XII, Diploma, UG & PG, and no standing arrears. The application deadline is March 7, 2025. Interested applicants can apply through the Superset platform.
Nvidia is investing up to $500 billion to manufacture AI supercomputers and Blackwell chips within the United States. This initiative includes establishing over a million square feet of production and testing facilities in Arizona and Texas. By partnering with companies like Foxconn and Wistron, Nvidia aims to strengthen supply chains, meet growing AI demand, and enhance economic resilience. This move also aligns with the Trump administration's focus on revitalizing U.S. manufacturing and technological dominance.
Zak Coyne, a British national, was sentenced to over eight years in prison for orchestrating a large-scale phishing scam. He was apprehended at an airport while attempting to flee the country. Coyne's operation involved sending fraudulent emails to unsuspecting victims, leading to significant financial losses. Authorities highlighted this case as a significant step in combating cybercrime and emphasized the evolving nature of phishing scams.