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Good morning tech fam, here are some quick tech updates for you to catch on to!
What's New Today: Karnataka aims to build six new 'high-tech' cities and a dedicated 'startup park'. The news comes as the state tries to demonstrate Bengaluru, as something beyond 'India's Silicon Valley'.
Fast-Track Insights: Nvidia partners up with Microsoft to build one of the most powerful AI supercomputers in the tech industry's history.
Elon Musk claims that he does not want to be the CEO of any company, be it Tesla or Twitter! This statement was actually a testimony that Musk presented at a trial that concerned his controversial pay compensation at Tesla. He says he only wishes to remain CEO of Twitter for a while and would find someone else to run Twitter eventually. Besides, investors have also expressed concerns over Musk's multi-tasking capabilities.
Nvidia has announced a multi-year partnership with Microsoft to build one of the most powerful AI supercomputers in the world. It will be powered by Microsoft Azure's advanced supercomputing infrastructure combined with Nvidia GPUs, networking, and a full stack of AI software to help enterprises train, deploy, and scale AI, which also involves large, state-of-the-art models.
Karnataka aims to build six new high-tech cities and a dedicated startup part in an attempt to convince global tech pioneers that Bengaluru is powering its future through technology. The six high-tech cities will be built near Kalaburagi, Mysuru, Mangaluru, Hubballi-Dharwad, and other Bengaluru regions. Besides this, the 'startup park' will also be a 'multi-modal' one which will cater to nascent enterprises across sectors and will also be set up near the Bengaluru airport.
Crypto exchange Gemini suffers a major rush of withdrawals as crypto firms wrestle with the reverberations of the FTX-Alameda bankruptcy and subsequent contagion within the crypto industry. Based on reports by blockchain intelligence platform Nansen, Gemini witnessed US$485 million in net outflows within a period of 24 hours, the largest outflows ever recorded among crypto exchanges.
Binance CEO, CZ, claims that he is establishing a recovery fund to help people in the industry while mentioning that the industry will be 'fine'! Zhao claims that cryptocurrencies have shown major resilience amid these unexpected turbulences that are causing long-term damage. Even though he did not mention an exact figure for the recovery fund, it is quite evident that CZ wishes to see the crypto industry stand on its own feet very soon.
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