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This week, Chinese AI lab DeepSeek disrupted the tech industry with its R1 and V3 models, offering open-source AI at a fraction of traditional training costs. This innovation triggered a global tech stock decline: Nvidia's market cap plummeted by $589 billion, while Broadcom, SK Hynix, ASML, Microsoft, Apple, Alphabet, and Meta also saw significant drops. The Nasdaq Composite fell by 3%. Following the upheaval, DeepSeek faced a cyberattack and European scrutiny over data privacy concerns. Meanwhile, rival Alibaba launched its own AI model, claiming superior benchmarks.
On the domestic front, Assam Chief Minister Biswas aims to transform the state into a semiconductor hub. The Economic Survey 2025 highlighted emerging threats in the IT sector and risks associated with AI. An IESA report projected India's semiconductor industry to reach a valuation of $103 billion by 2030. In a surprising turn, Indian media firms filed a lawsuit against OpenAI over copyright infringement.
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Emerging Risks Threaten Future Growth India’s IT Services: Economic Survey 2025
The Economic Survey 2024-25, tabled in Parliament today, presented a overview of India's economic trajectory, with notable observations on the Information Technology (IT) sector. While the report mentioned India's resilience in tech services and its expanding global influence, it also flagged emerging challenges tied to global policy shifts and regulatory concerns
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Meta's Q4 Revenue Beats Estimates, But Cautious Q1 Outlook Raises Concerns
Meta exceeded Wall Street's expectations with its fourth-quarter revenue, reporting USD 48.4 billion compared to the forecasted USD 47 billion. However, its guidance for the first quarter of 2025, projecting revenue between USD 39.5 billion and USD 41.8 billion, fell slightly short of analysts’ average estimate, sending mixed signals about its financial trajectory.
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