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Good morning, tech fam; here are some quick tech updates for you to catch up to!
What’s New Today: US Tech Stocks Hold Firm After DeepSeek AI App Shock
Fast-Track Insights: Whizzo Lands $4.2M in Seed Funding for Innovation
Here’s a quick rundown of the biggest tech headlines making waves today. From the US Tech Stocks to Google Graduate Hiring, let’s dive into the top tech stories of the day.
US tech stocks stabilized after a sharp decline triggered by the rise of the Chinese AI app DeepSeek, which claimed to offer models at a fraction of competitors' costs. Nvidia's shares rebounded by 8.8%, following a 17% drop, as experts suggested the AI selloff might have been an overreaction. DeepSeek's emergence has raised concerns over US AI dominance and the scale of future investments. US President Trump called it a "wake-up call" but remained optimistic, seeing potential benefits. The app, launched in 2023 by Liang Wenfeng, became the most downloaded free app in the US within a week.
Whizzo, a Bengaluru-based materials science manufacturing start-up specializing in fashion-engineered and technical textiles, raised US $4.2 million in seed funding led by Lightspeed. The funds will support R&D, the establishment of a textile design lab, and the enhancement of supply chain infrastructure across multiple countries. Founded in 2024 by Shrestha Kukreja, Whizzo focuses on innovative, sustainable textiles for industries like Medtech, Packtech, and Clothtech. The company aims to expand its customer base to over 100 clients globally, including in South America, West Asia, Africa, Europe, and Japan. Investors see India as a key player in textile innovation.
Google is hiring an Account Executive for Mid-Market Sales in Mumbai, Maharashtra. The role involves understanding customers' business needs, managing a portfolio, and driving growth through advertising strategies. Key responsibilities include building relationships with C-level executives, creating sustainable growth plans, and collaborating with account managers. The ideal candidate should have a Bachelor's degree, 5 years of experience in sales, advertising, or marketing, and strong knowledge of digital marketing. Preferred qualifications include expertise in marketing strategies, local market insights, and project management skills. The role also involves coaching peers to enhance customer growth and long-term partnerships.
Bitcoin prices have taken a hit as a major shakeup in the AI sector disrupts the cryptocurrency market. The sudden rise of DeepSeek, a Chinese-made AI app, has raised concerns over the future of US AI dominance, fueling uncertainty among investors. This has led to volatility in tech stocks and, by extension, a ripple effect on the cryptocurrency market. Analysts suggest the drop in Bitcoin prices could be tied to market overreaction to AI developments. As AI costs decrease, the market's focus shifts, creating a turbulent environment for Bitcoin and other cryptocurrencies as investors adjust their strategies.
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