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Singapore has granted bail to individuals involved in an alleged $390 million fraud related to the smuggling of Nvidia chips. The case highlights significant concerns over the integrity of supply chains and the enforcement of regulations in the tech industry.
Nvidia's GTC 2025 is set to unveil significant advancements in AI, GPUs, quantum computing, and more this week. Industry experts and enthusiasts are eagerly anticipating the announcements that could shape the future of technology. Stay tuned for updates on these groundbreaking developments.
Taiwan Semiconductor Manufacturing Company (TSMC) has proposed a joint venture with US chip manufacturers Nvidia, AMD, and Broadcom to manage Intel's foundry division, aiming for a maximum 50% stake to maintain US majority ownership. This initiative, which requires US government approval, follows requests for TSMC's assistance in enhancing Intel's manufacturing capabilities and marks TSMC's first specific outreach to major semiconductor players.
Meta is testing its first in-house AI training chip, aiming to reduce reliance on external suppliers like Nvidia and cut infrastructure costs. The dedicated accelerator chip, produced in collaboration with TSMC, is part of a long-term strategy to enhance AI capabilities, with plans for broader deployment if initial tests succeed. Meta's goal is to utilize these chips for training AI systems by 2026, starting with recommendation systems and expanding to generative AI products.
CoreWeave has signed a five-year, $11.9 billion deal with OpenAI to provide cloud computing services, with OpenAI set to receive $350 million in CoreWeave shares during its upcoming IPO. Despite reporting a significant revenue increase from $228.9 million in 2023 to $1.92 billion in 2024, CoreWeave also faced an $863.4 million net loss. The IPO, led by Morgan Stanley, JPMorgan Chase, and Goldman Sachs, is contingent on market conditions.
The Nasdaq Composite hit a six-month low on March 10, declining over 4% last week, marking its worst day since 2022. The seven most valuable tech companies collectively lost over $750 billion, with Tesla dropping more than 9% and Nvidia losing nearly $140 billion in value. Apple, Alphabet, and Meta Platforms also saw declines exceeding 5%, while Amazon and Microsoft fell about 3%, amid heightened scrutiny of the tech sector.
The US stock market has plummeted over $4 trillion since its peak on February 19, primarily due to economic uncertainty stemming from ongoing tariff policies. The S&P 500 fell 8.6% from its record high, while major tech stocks like Tesla and Apple experienced significant losses.Defensive assets gained, and demand for US government debt increased as hedge funds reduced stock exposure at the highest rates in over two years. Analysts caution that trade tensions and mixed economic signals may continue to fuel market volatility in the weeks ahead.
Wayve Technologies, a London-based self-driving firm backed by SoftBank and others, is approaching a commercial launch of its driver-assistance system in the US and Germany. The AI-driven software adapts to road conditions without relying on detailed maps, having shown promising results in trials with various vehicles. Unlike competitors, Wayve plans to license its technology to automakers and is collaborating with Uber for future autonomous vehicle integration.
Warren Buffett's Berkshire Hathaway has amassed a record $325 billion in cash, surpassing the combined reserves of major tech companies, as stock valuations soar. The S&P 500's price-to-earnings ratio is 67% above historical norms, prompting Buffett to adopt a cautious investment strategy, selling over $100 billion in stocks in 2024. This cash reserve serves as a safeguard against potential economic downturns, reflecting Buffett's commitment to fiscal conservatism.
UBS has maintained a "Buy" rating for NVIDIA, setting a target price of $185, despite market concerns regarding supply chains and the Blackwell launch. Analyst Timothy Arcuri expressed optimism for strong results in the fourth fiscal quarter and positive signals for the first quarter. NVIDIA shares rose 0.43% to $138.30 on NASDAQ.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Singapore grants bail to Nvidia chip smugglers in 390 million dollar fraud
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nvidia gtc 2025 to unveil key advancements in ai and quantum computing
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