Discover the latest trends and developments in the world of technology with the roundup of key news stories. Latest developments include: NVIDIA’s AI architecture, Microsoft’s strategic hires, and Apple’s focus on artificial intelligence.
1. UAE crypto investors saw 5x more the total gains than the global community according to Chainalysis
In 2021, the crypto market’s explosion led to $159.7 billion in gains but saw a sharp downturn to losses of $127.1 billion the following year. UAE and Saudi Arabian investors experienced substantial profits, with UAE favoring bitcoin, making up 70% of their gains, followed by ethereum and XRP. (The Fintech Times)
2. ZachXBT: Solana meme coins raised $149m in a week
Driven by speculation on meme coins, Solana’s value rocketed towards an all-time high, with SOL presales surpassing $149.2 million. Influencer-driven hype played a significant role, propelling a 25% rise in its price within just a week. (Crypto.news)
3. Bybit’s latest leap: P2P crypto trading with zero transaction fees
Bybit launches a pioneering zero-fee model for peer-to-peer trading. This move eliminates transaction costs for all fiat trading pairs, enhancing savings and profit potential for traders worldwide. (Macau Business)
4. MicroStrategy owns about 1% of all bitcoin with latest purchase
MicroStrategy escalated its bitcoin holdings to surpass 1% of the cryptocurrency’s finite supply through two major purchases, spending $623 million recently and $821.7 million previously, mostly financed by selling convertible notes. (Bloomberg)
5. NVIDIA GTC roundup: Next-gen data centres and cloud provider partnerships
At the 2024 GTC event, NVIDIA unveiled the Blackwell GPU architecture for advanced generative AI and announced forward-thinking data centre designs for efficient AI infrastructure. Highlights included partnerships for cloud APIs for digital twin integration and a new AI supercomputer equipped with NVIDIA Grace CPUs and Blackwell GPUs. (Cloudtech)
6. MiTAC and TYAN Present Cutting-Edge Server Solutions for Cloud Computing at CloudFest 2024
MiTAC Computing Technology, a subsidiary of MiTAC, and TYAN unveil their latest cloud server platforms at CloudFest 2024, boasting the latest processors from AMD and Intel. (PR Newswire)
7. Nvidia shares close up after company unveils latest AI chips
Nvidia’s stock saw a 1% increase following CEO Jensen Huang’s remarks projecting the company’s expansion in the $250 billion data centre market. This came after Nvidia’s announcement of its latest AI chips, Blackwell, and a new AI software platform. (CNBC)
8. Nvidia expands ties with Chinese EV makers as auto AI race heats up
Nvidia announced collaborations with Chinese automakers like BYD to integrate its Drive Thor chips, enhancing autonomous driving and digital functionalities. BYD plans to implement Nvidia technology for factory optimisation, supply chain efficiency, and virtual showroom development. (Business Times)
9. Microsoft hires DeepMind co-founder Mustafa Suleyman as CEO of new AI unit
Microsoft hired Mustafa Suleyman, co-founder of DeepMind, as EVP and CEO of Microsoft AI. DeepMind, acquired by Google in 2014, made significant strides in AI research, attracting attention from Tesla CEO Elon Musk. (CNBC)
10. Apple’s AI focus could crimp profit margins, analyst says
According to Deepwater Asset Management’s managing partner Gene Munster, Apple’s efforts to catch up in artificial intelligence may strain profit margins. Munster noted Apple’s consistent margins despite revenue fluctuations, suggesting AI investment could impact short-term profits, possibly challenging the company’s historically strong margins. (Investor’s Business Daily)
11. Microsoft hires DeepMind Co-Founder Suleyman to run consumer AI
Microsoft appoints Mustafa Suleyman to lead its consumer artificial intelligence division, integrating talent from his Inflection AI startup. Suleyman, a co-founder of Google’s DeepMind, will report to CEO Satya Nadella, overseeing initiatives like integrating AI Copilot into Windows. (Bloomberg)
