.png){kind=logo}
What’s New Today: US Tightens Investment in Chinese AI, Chip Tech Under Biden’s Order
Fast-Track Insights: OpenAI Chair’s Startup Sierra Valued at $4.5B in Latest Funding
Here’s a quick rundown of the biggest tech headlines making waves today. From the US Tightens Investment in Chinese AI to NCERT Recruitment, let’s dive into the top tech stories of the day.
The Biden administration has completed regulations limiting the investments made by American people and businesses in cutting-edge technology in China, such as semiconductors, quantum computing, and artificial intelligence.
These regulations, which were decided after over a year of discussion, prohibit certain investments in these sectors and mandate that the US government be informed about other investments. The aim is to stop American funds and expertise from aiding China in the creation of essential technologies that could give China an advantage in military matters.
Sierra, a company specializing in artificial intelligence that was co-created by Bret Taylor, who was once the co-CEO of Salesforce, and Clay Bavor, a former executive at Google, has secured $175 million in investment, with Greenoaks Capital leading the pack. This investment has pushed Sierra's value to an impressive $4.5 billion, marking a significant milestone for the company, which was launched just over a year ago.
Sierra's main focus is on developing AI-driven customer service chatbots for its clients, including WeightWatchers and Sirius XM. This round of funding underscores the growing interest among investors in AI solutions for businesses, moving the emphasis from basic models to those that can generate income.
Taylor, who also chairs the board at OpenAI, points out Sierra's distinctive strategy in minimizing the "hallucinations" that often occur with AI, highlighting a critical issue in the field and setting Sierra apart as a leading AI startup.
NCERT is seeking 23 Junior Project Fellow roles on a temporary basis until March 31, 2025, with the potential for an extension. Applicants need to possess a Master's degree in Commerce, Accountancy, Business Studies, Computer Science, or Science. The monthly pay for Non-NET positions is Rs. 35,000, while it's Rs. 37,000 for those with NET qualifications.
The maximum age for applicants is 40 years. The selection process will involve an interview, set for November 7, 2024, in Room 242, Chacha Nehru Bhawan, NCERT, New Delhi. Applicants are required to submit original documents, copies of necessary paperwork, and the application form for verification at the interview.
Nvidia has taken a significant step in strengthening its position in India’s artificial intelligence (AI) market. During a recent AI summit in Mumbai, Nvidia’s CEO, Jensen Huang, introduced a new Hindi-focused AI model called Nemotron-4-Mini-Hindi-4B. This language-specific model is part of Nvidia's broader strategy to tap into India’s rapidly expanding AI ecosystem. By focusing on localization, Nvidia aims to support Indian businesses in developing advanced AI solutions tailored to the local language and market needs.
Ripple's XRP remained stable above $0.5100 on Monday, trading within a range of $0.5136 with little change. The token has varied between $0.6342 and $0.4860 this month. Ladan Stewart, a former lawyer with the SEC, criticized the agency's tight stance, pointing out that it obstructs cooperation with cryptocurrency companies. Richard Levin, another lawyer, called on the SEC to adhere to the Administrative Procedure Act for more transparent rules. The legal dispute between Ripple and the SEC persists as both parties submit appeals. Technical analysis indicates a possible 7% drop for XRP, with potential support at $0.4780, as MACD signals a negative trend in XRP's price movement.
