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What’s New Today: Speedata created an APU which is designed to accelerate big data analytic workloads, and gained US$44 million to launch the chip.
Fast-Track Insights: A San Francisco-based Neo-bank Chime is aiming for an US$11 billion valuation which is less than half of its 2021’s private valuation.
Here’s a quick rundown of the biggest tech headlines making waves today. Let's dive into the day's top tech stories, from Speedata APU launch to C.K. Legal recruiting freshers as associate and junior associate.
Speedata has secured US$44 million in Series B funding to launch its Analytics Processing Unit (APU), which is powered by a custom-designed Callisto chip. This innovation aims to eliminate bottlenecks in data pipelines, offering significant acceleration for complex analytics workloads. The APU can potentially replace multiple processor racks, enhancing efficiency and reducing costs. Tested across sectors like finance and healthcare, it promises scalable, real-time analytics crucial for AI advancements
Chime, a San Francisco-based neobank, is preparing for a significant IPO in June 2025, aiming for an US$11 billion valuation—less than half its 2021 private valuation. Despite this reduction, the IPO stands as one of the year's largest, second only to CoreWeave. Analysts view this move as indicative of broader market adjustments. The IPO, led by Goldman Sachs, Morgan Stanley, and JPMorgan, is scheduled for the week of June 9, with a 180-day lock-up period for insiders.
C.K. Legal, a Mumbai-based law firm specializing in civil and criminal litigation, is hiring two positions: Associate and Junior Associate. Applicants must be law graduates enrolled with the Bar Council, possessing 1–3 years (Junior Associate) or 3+ years (Associate) of litigation experience. Responsibilities include client interactions, court appearances, and legal drafting.
DeepSeek's latest AI model, R1-0528, has undergone significant improvements, reducing hallucinations by 45–50% and matching the Gemini 2.5 Pro in reasoning tasks. However, similarities in expressions and reasoning traces have led developers to suspect that DeepSeek may have utilized outputs from Google's Gemini, possibly through unauthorized data use. Past incidents, including data exfiltration from OpenAI accounts linked to DeepSeek, further fuel these concerns, raising questions about the originality of DeepSeek's advancements.
James Wynn, a pseudonymous crypto trader famed for turning a US$7,000 investment in the meme coin PEPE into over US$25 million, confessed to losing US$100 million within days due to overleveraged trades on Hyperliquid. Despite lacking experience in derivatives, Wynn ventured into perpetual futures trading in March. His rapid success attracted significant attention, which he admitted led to reckless trading behavior. Wynn described his actions as basically gambling, acknowledging that the pressure from newfound fame contributed to his downfall.
