Good morning, tech family, here are some tech updates you should be keeping an eye on.
What's new today: TCS to hire 40,000 new graduates this year
Fast Track Insights: Mt Gox moves $9 billion worth of BTC, markets prepare
The new AI chip released by Etched, named Sohu, is said to be 20 times faster than the state-of-the-art Nvidia H100 GPU in running AI models like ChatGPT. The chip design is primarily targeted at the transformer models required to run large language models like ChatGPT. Feeding data exclusively to these models allows Sohu to provide more computing power to these models, which is expected to lead to significant advances in specialization-based AI capabilities. Such specialization is expected to open new vistas for AI applications and greatly streamline the process of displaying real-time, multi-modal, and multi-lingual AI interactions.
India continues to be a major talent hub amid a seismic shift taking place in the global information technology sector. Tata Consultancy Services added 5,452 employees in the June quarter, taking its total headcount to 606,998. The company continues to be on an aggressive hiring drive and is expected to hire around 40,000 fresh graduates this quarter.
Generative AI – systems that can generate text, images, and other media in response to user input – has transformed a variety of industries by automating tasks, increasing creativity, and providing new capabilities. As adoption of generative AI technologies grows, so does the need for robust regulatory frameworks to ensure ethical use, data privacy, and security. Read more
Mt. Gox cold wallet has made a big move by transferring over 140,000 BTC after a two-week hiatus, raising concerns about the impact on the market. Bitcoin transactions on Mt. Gox reached a total of approximately 190,000 BTC as of July 16, moving over $12 billion in value in less than three hours. The destination address ended with “BHDct9b,” which transferred 42,587 BTC, or $2.69 billion. The remaining 4,641.24 BTC, or $293.94 million, was transferred to “Mt. Gox: Cold Wallet (1Jbez).” In response, the “BHDct9b” address had not transferred 42,587 BTC, causing market sentiment towards BTC to shift from fear and drop in value. Shortly thereafter, another 48,641 BTC was transferred to another unknown address, moving another $3.07 billion worth of assets from Mt. Gox's main wallet.
